Hidefield Gold plc ("the Company" or
"Hidefield") notes the recent rise in the
share price of the Company and confirms that it is in discussions with a
third party which may or may not lead to an offer, which would be on an all
share basis, being made for the Company.
This announcement has been made with the agreement of the potential
offeror.
A further announcement will be made in due course.
In accordance with Rule 2.10 of the Takeover Code, the Company
confirms that it has 410,235,511 ordinary shares of 1p each in issue and
admitted to trading on the AIM market of the London Stock Exchange under
the ISIN reference GB0003644506.
Enquiries:
Hidefield Gold Plc
Ken Judge, Chairman: + 44 773 300 1002
Investor Relations
Jon Bey (North America): + 1 800 689 2599
Hanson Westhouse Limited
(Financial Adviser to Hidefield)
Tim Feather / Matthew Johnson: + 44 113 246 2610
Hanson Westhouse Limited, which is regulated in the United Kingdom
by the Financial Services Authority, is acting for Hidefield and no else in
relation to matters described in this announcement and will not be
responsible to anyone other than Hidefield for providing the protections
afforded to customers of Hanson Westhouse Limited.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and
Mergers (the "Code"), if any person is, or becomes,
"interested" (directly or indirectly) in 1% or more of any class
of "relevant securities" of Hidefield, "all dealings"
in any "relevant securities" of that company (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lapses or is otherwise withdrawn or on which the "offer period"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 Hidefield, 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 Hidefield by
Hidefield, or by any of its "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 the 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 a long economic exposure, whether conditional or absolute, 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 Takeover Panel.
The distribution of this announcement in jurisdictions other than
the United Kingdom
may be restricted by law and therefore persons into whose possession this
announcement comes should inform themselves about and observe,
such restrictions. Any failure to comply with the restrictions may
constitute a violation of the securities laws of any such jurisdiction. This
announcement does not constitute an offer or an invitation to purchase or
subscribe for any securities or a solicitation of an offer to buy any
securities pursuant to this announcement or otherwise in any jurisdiction.