WITHDRAWAL OF POSSIBLE OFFER FOR NORD ANGLIA EDUCATION PLCNordAnglia Education PLC23 November 2006 ('Nord Anglia' or ' the Company') Further to the statement released by Principle Capital Partners Limited ('Principle Capital') on 23 October 2006, Principle Capital on behalf of Bulldog Financial Limited ('Bulldog'), an investment vehicle managed by Principle Capital, announces that it has no present intention of making an offer for Nord Anglia. In reaching this decision, Principle Capital has taken into account the Company's recent announcement of preliminary results for the year ended 31 August 2006, a subsequent meeting with senior management of Nord Anglia and the views of other significant shareholders of the Company in relation to the level of Principle Capital's pre-conditional offer announced on 23 October 2006. Principle Capital remains a committed shareholder of Nord Anglia and will continue to work with the Company to ensure its future success. Pursuant to Rule 2.8 of the City Code on Takeovers and Mergers (the 'Code'), each of Principle Capital and Bulldog reserves the right to announce or participate in an offer or possible offer for Nord Anglia and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within the next six months if there is a material change of circumstances or if any of the following events occur: i. the agreement or recommendation of the Board of Nord Anglia to such an offer; ii. there is an announcement of an offer by a third party for Nord Anglia; or iii. Nord Anglia announces a whitewash proposal or a reverse takeover. Enquiries: Principle Capital 020 7240 3222 James Peggie |
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