NNG Newport Network

    RNS Number : 0589C
  Newport Networks Group PLC
  26 August 2008
   

    26 August 2008

    Newport Networks Group PLC (the "Company")

    Executive management changes

    In keeping with the Board's decision to reduce the cost base of the Company and as previously announced on 19 June 2008, John Everard is
standing down as Chief Executive Officer of the Company to become Non-executive Vice Chairman. John Ackroyd has been appointed Chief
Executive Officer in addition to his existing role as Finance Director.


    Enquiries:
 Newport Networks Group PLC   Tel: 01291 435 700
 John Ackroyd, Chief
 Executive and Finance
 Director

 Evolution Securities         Tel: 020 7071 4300
 Robert Collins/ Tim
 Redfern/ Neil Elliot

    Dealing Disclosure Requirements 

    Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested'
(directly or indirectly) in 1% or more of any class of 'relevant securities' of Newport Networks Group PLC, all 'dealings' in any 'relevant
securities' of that company (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 London 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otherwise withdrawn or on which the 'offer period' otherwise ends.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 Newport Networks Group PLC, they will be
deemed to be a single person for the purpose of Rule 8.3. 

    Under the provisions of Rules 8.1 of the Code, all 'dealings' in 'relevant securities' of Newport Networks Group PLC by a potential
offeror, or Newport Networks Group PLC, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London
time) on the London 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 Takeover 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 Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.
            

        


This information is provided by RNS
The company news service from the London Stock Exchange
 
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