The Board of Great Portland Estates plc ("GPE") confirms that it is engaged in preliminary discussions with London Merchant Securities plc concerning a potential merger.
GPE anticipates that any merger transaction would involve a share for share offer by GPE for London Merchant Securities. There can however be no certainty that any transaction will be forthcoming.
In accordance with Rule 2.10 of the Takeover Code, GPE announces that its issued share capital consists of 163,432,872 ordinary shares of 12.5p each. It also has £54,530,000 outstanding of 5.25% convertible bonds 2008.