Offeree company announcements after Day 39

1. The board of the offeree company should not, except with the consent of the Panel (which should be consulted in good time), announce any material new information, including trading results, profit forecasts (including ordinary course profit forecasts), dividend forecasts, asset valuations, quantified financial benefits statements and proposals for dividend payments or for any material acquisition or disposal, after Day 39.

2. Where a matter which might give rise to such an announcement being made after Day 39 is known to the offeree company, every effort should be made to bring forward the date of the announcement, but, where this is not practicable or where the matter arises after that date, the Panel will normally give its consent to a later announcement.

3. If an announcement of the kind referred to in paragraph (a) is made after Day 39, the Panel will re-set Day 60, as appropriate.