Jurys Doyle Hotel Group plc (“Jurys Doyle”)
On 9 May, 2005 Jurys Doyle announced that it had received an approach which may or may not lead to an offer for the company. On 16 May Jurys Doyle announced that it had rejected the approach from Precinct Investments Limited (“Precinct”) at a proposed price of €15.25 per share. On 8 June Jurys Doyle announced that it had rejected a second approach from Precinct at a proposed price of €16.25 per share. On 9 June Precinct announced that in light of inter alia the announcement by Jurys Doyle the previous day, Precinct wished to confirm its continuing interest in making an offer to the shareholders of Jurys Doyle and accordingly, was considering its response.
Following representations made by Jurys Doyle and its advisers, and correspondence with the advisers to both Precinct and Jurys Doyle, the Panel has ruled that, except with the consent of the Panel, Precinct must by 5.00 p.m. on 15 July 2005 either announce an offer for Jurys Doyle under Rule 2.5 of the Takeover Rules or announce that it will not proceed with an offer for Jurys Doyle.
In the event that Precinct announces that it will not proceed with an offer for Jurys Doyle it will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the Takeover Rules for 12 months from the date of such announcement.
