Possible offer for Intelligent Energy by Clerkenwell Ventures plc
Intelligent Energy Holdings plc (“Intelligent Energy” or the “Company” and which with its subsidiaries is referred to in this announcement as the "Group") announces that it has received an approach from Clerkenwell Ventures plc (“Clerkenwell”) which may or may not lead to an all share offer being made for all or part of the Group. This approach, which has outlined a possible offer of 12 new Clerkenwell shares for each share in the Company, is at a relatively early stage and there is no certainty that it will result in a formal offer. The Company’s directors are considering the approach which they do not currently regard as compelling for the Company’s shareholders. This announcement is being made with the agreement of Clerkenwell.
A further announcement will be made in due course as appropriate.
Enquiries:
Intelligent Energy Holdings plc 020 7958 9033
Mark Lawson-Statham
ARC Associates 020 7614 4000
John Allen/Christopher Graves/Rishi Shah
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code, any person who, alone or acting together with any person(s) pursuant to an agreement or understanding (whether formal or informal) to acquire or control securities of Clerkenwell or Intelligent Energy, owns or controls, or becomes the owner or controller, directly or indirectly, of one percent or more of any class of securities of Clerkenwell or Intelligent Energy is required to disclose, by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction, every dealing in any relevant securities of that company (or in any option in respect of, or derivative referenced to, any such securities) during the period to the date on which the offer becomes or is declared unconditional as to acceptances or lapses or is otherwise withdrawn.
Under the provisions of Rule 8.1 of the City Code, any such dealings by Clerkenwell or Intelligent Energy, or by any of their respective "associates" (within the meaning of the City Code) must also be disclosed.
If you are in any doubt as to the application of Rule 8 of the City Code to you, please contact an independent financial advisor authorised under the U.K. Financial Services and Markets Act 2000, consult the U.K. Takeover Panel's website at www.thetakeoverpanel.org.uk or contact the U.K. Takeover Panel on telephone number +44 (0) 20 7638 0129; fax +44 (0) 20 7236 7013