FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
8 June 2012
POTENTIAL OFFER UPDATE
FOR ISLAMIC BANK OF BRITAIN PLC ("IBB")
Further to the announcement made by IBB on 6 June 2012, in
relation to an approach from Qatar International Islamic Bank Q.S.C.
("QIIB"), a 88.41 percent shareholder of IBB, requesting the opening of
discussions with the board of IBB with a view to QIIB making an offer
for the IBB shares not already owned by QIIB, any such offer to be
effected by way of a scheme of arrangement, QIIB has further confirmed
that if any offer is made it is likely that it would be solely in cash. (source)
There can be no certainty that an offer will be made by
QIIB nor as to the terms on which any offer might be made. Under Rule
2.4(c) of the City Code on Takeovers and Mergers (the "Code"), QIIB
must, by 5.00 pm on 4 July 2012, being the 28th day following the date
of the announcement made on 6 June 2012, either announce a firm
intention to make an offer for IBB under Rule 2.7 of the Code or
announce that it does not intend to make an offer for IBB, unless the
Takeover Panel agrees otherwise; IBB can request the Takeover Panel to
extend this deadline. This announcement has been made with the consent of QIIB.
END
Source: http://uk.finance.yahoo.com/news/islamic-bank-britain-offer-170046687.html - June 8, 2012
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