Etam PLC - Offer Uncondt.As to Acceptnce
23 Dezember 1997 - 8:30AM
UK Regulatory
RNS No 0111r
ETAM PLC
23rd December 1997
Not for release or distribution in or into the United States of America,
Canada, Australia or Japan
Etam Developpement SCA ("Etam Developpement")
Recommended final* cash offer (the "Offer") for Etam Public Limited Company
("Etam")
Offer unconditional as to acceptances
Etam Developpement announces that the recommended final* cash offer for Etam
has been declared unconditional as to acceptances and will remain open until
further notice. The Share Alternative to the Offer will not remain open for
acceptance after 3.00pm on 5 January 1998 at which time it will then close
unless Etam Developpement agrees to it being extended.
At 3.00pm on 22 December 1997, valid acceptances of the Offer had been
received in respect of 58,185,654 Etam Shares representing approximately 88
per cent. of the issued share capital of Etam. Included in these acceptances
are acceptances received pursuant to irrevocable undertakings to accept the
Offer in respect of over 31 million Etam Shares, representing approximately
48 per cent. in aggregate of Etam's existing issued share capital. Included
in these undertakings is an undertaking from a trust connected with Mr Henry
Lindemann (a shareholder and member of the supervisory board of Etam
Developpement) in respect of 1.4 million shares.
On 12 November 1997 (the date of the announcement of the Offer) Etam
Developpement acquired 4 million Etam Shares representing approximately 6 per
cent. of Etam's existing issued share capital. Etam Developpement therefore
owns or has received acceptances in respect of a total of 62,185,654 Etam
Shares representing approximately 94 per cent. of the existing issued share
capital of Etam.
Save as disclosed above, neither Etam Developpement nor any person deemed to
be acting in concert with Etam Developpement held any Etam Shares (or rights
over such shares) as at 14 October 1997, the day before the offer period
commenced, or has otherwise acquired or agreed to acquire Etam Shares (or
rights over such shares) since then.
Etam shareholders who have not yet accepted the Offer should despatch their
Form of Acceptance as soon as possible.
Enquiries
Schroders - Nick Tinworth 0171 658 6000
- Marc Vincent 00 331 44 20 65 65
Credit Agricole - Jean-Marie Soubrier 00 331 41 89 26 62
Indosuez
- Nick Bryan 0171 971 4313
* The Offer is final and will not be increased, save in the event of a
competitive situation (as determined by the Panel) arising or otherwise with
the consent of the Panel.
Schroders and Credit Agricole Indosuez, which are regulated in the UK by The
Securities and Futures Authority Limited, are acting for Etam Developpement
and no one else in connection with the Offer and will not be responsible to
anyone other than Etam Developpement for providing the protections afforded
to customers of Schroders or Credit Agricole Indosuez or for providing advice
in relation to the Offer.
END
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