The Competition Commission has accepted signed undertakings in respect of the possible acquisition of London Stock Exchange plc ("LSE") by Euronext N.V. ("Euronext").
Euronext is technically considered a potential offeror by the Takeover Panel. As a result, 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 Euronext or LSE, all "dealings" in any "relevant securities" of Euronext or LSE (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 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer , if made, becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" as defined in the Code otherwise ends.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 Euronext or LSE, 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 Euronext or LSE by Euronext or LSE, 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 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 Takeover 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's website as above, contact the Takeover Panel on telephone number +44 20 7638 0129 or fax +44 20 7236 7013, or consult your financial adviser.
In accordance with Rule 2.10 of the Code, Euronext confirms that, as at the close of business on 13 March 2006, it has in issue 111,280,881 ordinary shares of EUR1 each (excluding shares held in treasury). The International Securities Identification Number for these shares is NL0000241511.
This announcement does not constitute an offer or an invitation to purchase any securities.
