Shanks Group Regulatory News Item    

TIDMSKS

RNS Number : 7911D
Shanks Group PLC
08 December 2009

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Shanks Group plc


8 December 2009




Statement re Possible Offer


Following the Statement re a Possible Offer for Shanks Group plc ('Shanks' or
'the Group') dated 7 December 2009, Shanks confirms that its two largest
shareholders agree with the Board that a cash offer of 150p per share or more
would deliver an appropriate value to shareholders and have indicated a
willingness to support an offer at this level.


This statement relates to Schroders Investment Management Limited which has a
beneficial holding of 64,282,332 ordinary shares (16.2%) and Legal & General
Investment Management Limited which has a beneficial holding of 63,469,016
ordinary shares (16.0%).


Enquiries:


Shanks Group plc    +44 (0)7854 942910
Tony McGarahan, Corporate Communications Adviser


Tulchan Communications+44 (0)207 353 4200
John Sunnucks
David Allchurch
Stephen Malthouse


In accordance with Rule 19.11 of  The City Code on Takeovers and Mergers (the
'Code'), a copy of this announcement will be published on the Shanks website:
http://www.shanksplc.co.uk/irol-rns


Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,
'interested' (directly or indirectly) in 1% or more of any class of 'relevant
securities' of Shanks, all 'dealings' in such 'relevant securities' (including
by means of an option in respect of, or a derivative referenced to, any such
'relevant securities') must be publicly disclosed by no later than 3.30 pm
(London time) on the London business day following the date of the relevant
transaction. This requirement will continue until the date on which the offer
becomes, or is declared, unconditional as to acceptances, lapses or is otherwise
withdrawn or on which the 'offer period' otherwise ends. If two or more persons
act together pursuant to an agreement or understanding, whether formal or
informal, to acquire an 'interest' in 'relevant securities' of Shanks, they will
be deemed to be a single person for the purpose of Rule 8.3.


Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of Shanks by Shanks or the potential offeror, or by any of their
respective 'associates', must be disclosed by no later than 12.00 noon (London
time) on the London business day following the date of the relevant transaction.


A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.


'Interests in securities' arise, in summary, when a person has long economic
exposure, whether absolute or conditional, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.


Terms in quotation marks are defined in the Code, which can also be found on the
Takeover Panel's website. If you are in any doubt as to whether or not you are
required to disclose a 'dealing' under Rule 8, you should consult the Panel.

This information is provided by RNS
            The company news service from the London Stock Exchange
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