SVC Salvesen (C)

RNS Number:7230F
Salvesen (Christian) PLC
15 October 2007

                             CHRISTIAN SALVESEN PLC



RECOMMENDED CASH OFFER FOR THE ACQUISITION OF CHRISTIAN SALVESEN PLC ("CHRISTIAN
SALVESEN") BY GROUPE NORBERT DENTRESSANGLE S.A. ("GROUPE NORBERT DENTRESSANGLE")





                           POSTING OF SCHEME DOCUMENT



On 2 October 2007, Groupe Norbert Dentressangle and Christian Salvesen announced
a recommended cash offer for Christian Salvesen by Groupe Norbert Dentressangle.
The offer is proposed to be effected by means of a scheme of arrangement under
section 425 of the Companies Act (the "Scheme").



Christian Salvesen now announces that a circular (the "Scheme Document") is
being posted to Christian Salvesen shareholders today. Christian Salvesen
shareholders will receive the Scheme Document and two Forms of Proxy for use in
connection with the Court Meeting and the EGM described below, plus, if they
hold shares in certificated form and are not a Restricted Overseas Person, a
form with which they may elect to receive all or part of their consideration in
the form of Loan Notes.



As set out in the Scheme Document, two Christian Salvesen shareholder meetings
will take place on 9 November 2007, namely, (i) the Court Meeting which has been
convened for 11.00 a.m. to approve the Scheme and (ii) the EGM which has been
convened for 11.15 a.m. (or as soon thereafter as the Court Meeting shall have
been concluded or adjourned) to vote on resolutions proposed in connection with
the Scheme. A full description of the expected timetable, the terms and
conditions of the Scheme and the actions to be taken by Christian Salvesen
shareholders is set out in the Scheme Document.


The expected timetable of the principal events is as follows:


Latest date for lodging blue Forms of Proxy for the Court    11.00 a.m. on 7 November 2007
Meeting
Latest date for lodging white Forms of Proxy for the EGM     11.15 a.m. on 7 November 2007
Voting Record Time for Court Meeting and EGM Court Meeting   6.00 p.m. on 7 November 2007
Court Meeting                                                11.00 a.m. on 9 November 2007
EGM                                                          11.15 a.m. on 9 November 2007
Loan Note Election Deadline                                  5.00 p.m. on 7 December 2007
Court Hearing to sanction the Scheme                         12 December 2007
Scheme Record Time                                           5.00 p.m. on 13 December 2007
Court Hearing to confirm Christian Salvesen's reduction of   14 December 2007
capital
Effective Date of the Scheme and reduction of capital        14 December 2007
Cancellation of listing of Christian Salvesen shares         no later than 8.00 a.m. on 18 December 2007
Latest date for despatch of cheques, issue of Loan Notes and 28 December 2007
settlement through CREST





Copies of the Scheme Document will be available for inspection at the offices of
Capita Registrars, The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU and
at the Company's registered office during usual business hours on any weekday
(Saturdays, Sundays and public holidays excepted) or at www.salvesen.com, in
each case up to and including the Effective Date.



Application will be made for trading in Christian Salvesen Shares to be
suspended from the Official List of the UK Listing Authority with effect from
close of business on 12 December 2007. Application will also be made for the
listing of the entire issued share capital of Christian Salvesen to be cancelled
with effect from no later than 8.00 a.m. on 18 December 2007 and for Christian
Salvesen Shares to cease to be admitted to trading on the London Stock
Exchange's market for listed securities from the same date.



The dates provided above in respect of events occurring after the EGM are
indicative only and will depend, inter alia, on the dates on which the Court may
sanction the Scheme and confirm the associated reduction of capital and on which
the conditions to the Scheme may be satisfied or waived. If the expected dates
change, Christian Salvesen will give notice of this change by issuing an
announcement through a Regulatory Information Service.



Unless stated otherwise, capitalised terms used in this announcement shall have
the same meanings as in the Scheme Document.



Enquiries:


Christian Salvesen PLC                               Tel: +44 (0) 1604 737 100
Stewart Oades
Julian Steadman

UBS Limited                                          Tel: + 44 (0) 207 567 8000
Melanie Gee
Sean Bennett

Tulchan                                              Tel: +44 (0) 207 353 4200
Stephen Malthouse
David Allchurch



UBS Limited is acting exclusively for Christian Salvesen and no one else in
connection with the matters referred to in this announcement and will not be
responsible to anyone other than Christian Salvesen for providing the
protections afforded to clients of UBS Limited nor for providing advice in
relation to those matters or the content of, or any other transaction, matter or
arrangement referred to in, this announcement.



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
one per cent. or more of any class of "relevant securities" of Christian
Salvesen, all "dealings" in any "relevant securities" of Christian Salvesen
(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 3.30
p.m. (London time) on the business day following the date of the relevant
transaction. This requirement will continue until the date on which the Scheme
becomes effective, 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 Christian Salvesen, they will be deemed to be a
single person for the purpose of Rule 8.3.



Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of Christian Salvesen by Groupe Norbert Dentressangle, or by any of
its "associates", must be disclosed by no later than 12.00 p.m. (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 agreement
to purchase, option in respect of, or derivative referenced to, securities.



Terms in quotations marks are defined in the Code, which can also be found on
the Panel's website. If you are in any doubt as to the application of Rule 8 of
the Code to you, please contact an independent financial adviser authorised
under the Financial Services and Markets Act 2000 (as amended), consult the
Panel's website or contact the Panel on telephone number +44 (0)20 7382 9026 or
fax +44 (0)20 7638 1554. 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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