LTR Latitude

    RNS Number : 3129G
  Latitude Resources plc
  21 October 2008
   
    Clos du Mesnil Limited
    21 October 2008

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

    ANNOUNCEMENT IN ACCORDANCE WITH RULE 5.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS
    Further to the announcement made by Clos du Mesnil Lmitied ("CdM") on 20 October 2008, and in accordance with Rule 5.4 of the City Code
on Takeovers and Mergers (the "Code"), CdM announces that on 20 October 2008 it acquired 80,575,000 ordinary shares of �0.01 each (the
"Shares") in the capital of Latitude Resources plc ("Latitude") from Investec Bank (UK) Limited at a price of �0.04 per Share in cash.  The
Shares represent, in aggregate, approximately 29.89 per cent. of the entire issued ordinary share capital of Latitude.  
    The total number of shares in Latitude in which CdM has an interest amounts to 124,325,000 Shares representing approximately 46.1 per
cent of the entire issued ordinary share capital of Latitude.  


    Dealing Disclosure Requirements
    Under the provisions of rule 8.3 of the City Code if any person is or becomes "interested" (directly or indirectly) in one per cent or
more of any class of "relevant securities" of Latitude all "dealings" in any "relevant securities" of Latitude (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 3.30pm
(London time) on the 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Offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise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 Latitude, they will be deemed to be a single person for the purposes of Rule 8.3.
    Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant securities" of Latitude by CdM or by any of their
respective "associates" must all be publicly disclosed by no later than 12 noon (London time) on the Business day following the date of the
relevant transaction.
    A disclosure table, giving 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 Panel's website at www.thetakeoverpanel.org.uk.
    "Interests in securities" arise, in summary, when a person has 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 City Code, which can also be found on the Panel's website. If you are in any doubt as to the
application of Rule 8 to you, you should consult the Panel's website www.thetakeoverpanel.org.uk or contact the Panel on telephone number
+44(0)20 7638 0129; fax number +44 (0)20 7236 7013.


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