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Arnhem, the Netherlands, August 9, 2007 – Akzo Nobel N.V. (‘Akzo Nobel’) notes the announcement made earlier today by the Takeover Panel. The Panel Executive has extended the date by which Akzo Nobel must either announce a firm intention to make an offer for Imperial Chemical Industries PLC (‘ICI’) under Rule 2.5 of the Takeover Code, or announce that it does not intend to make an offer for ICI, to 10am GMT on Monday August 13, 2007
Akzo Nobel confirms that discussions between the parties regarding pre-conditions to an offer and completion of due diligence continue.
Nobel also confirms that its indicative proposal remains 670p in cash per ICI share. In addition, ICI shareholders would receive a second interim dividend of 5p per share, provided that if the completion date of any offer falls prior to December 31, 2007, such second interim dividend shall be paid pro rata by reference to where the completion date falls between July 1, and December 31, 2007.
further announcement will be made in due course.
required by the Takeover Code, Akzo Nobel confirms that this announcement is being made with the agreement and approval of ICI.
can be no certainty that Akzo Nobel's indicative proposal will result in any offer or transaction.