In late 1999 rumours circulate on internet
The rumours result in increased activity in CB shares, with swings in the share price as rumours ebb and flow. The Market Supervision team at the London Stock Exchange picks up the activity and contacts Alan Rooney to ask whether he knows of any reason for it.
Rooney confirms that the company is in talks with Seedcorn, but says that a deal has not yet been reached. He says that he does not know of any leak, and confirms that none of the directors have traded in the company's shares themselves in the last 12 weeks.
The Stock Exchange discusses the case with the UK Listing Authority, and recommends that Country Bumpkin clarifies the position in the market. Alan Rooney issues a statement via the Company Announcements Office of the LSE confirming that Country Bumpkin is in discussion with another business about a possible deal, but gives no further details.
The announcement is put out on the Stock Exchange's
The statement doesn't quell speculation, but it does at least ensure that all investors have access to the same information on equal terms.
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