Ann: Change in substantial holding from PDN , page-8

MyDisco

You are correct that the takeover will not go through if PDN does not get to 90 per cent.

However, I am not sure that 8 October will be the applicable date.

I would expect that the Takeovers Panel would require Paladin to extend the offer - maybe for a further two weeks - if it rules in NGM's favour under the current application.

This would allow NGM to communicate with shareholders and make sure that there is no confusion around the Takeovers Panel process and Paladin's obligation to proceed with an offer.

Cheers

Geraldine