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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

Hillsdown Holdings plc, its subsidiaries and its associates are prohibited by this Order from acquiring any shares or interests in shares in Pittard Garnar plc if together they would have 15% or more of any class of voting shares, from exercising 15% or more of voting rights and from making agreements with others to secure control of Pittard Garnar.

The proposed merger of Hillsdown and Pittard Garnar has been referred to the Monopolies and Mergers Commission.

The Order, unless previously revoked, will cease to have effect–

(a)

40 days after the Commission’s report is laid before Parliament; or

(b)

on the failure of the Commission to report within the period allowed.