Hodder Headline PLC - Re Hldg by WH Smith Group,etc
24 Mai 1999 - 7:07PM
UK Regulatory
RNS No 7451n
HODDER HEADLINE PLC
24 May 1999
Not for release, distribution or publication
in or into the USA, Canada, Australia or Japan
WH Smith Group PLC ("WH Smith")
Recommended cash offer for Hodder Headline PLC ("Hodder Headline")
WH Smith announces that it has today agreed to acquire 13,881,011 ordinary
shares of Hodder Headline at 525 pence per share which has resulted in its
shareholding exceeding 30 per cent. of Hodder Headline's issued ordinary share
capital. A further announcement in relation to the share purchases will be
made shortly.
Accordingly, the offer by WH Smith, which was announced this morning ("the
Offer"), will be amended so as to comply with the provisions of Rule 9 of the
City Code on Takeovers and Mergers.
The Offer will now only be conditional upon WH Smith receiving acceptances
which, together with Hodder Headline shares acquired or agreed to be acquired
before or during the Offer, will result in WH Smith and any person acting in
concert with it holding shares carrying more than 50 per cent. of the voting
rights of Hodder Headline.
Schroders is satisfied that WH Smith has sufficient cash resources to satisfy
full acceptance of the Offer.
_____________________________________________________________________________
WH Smith 0171 514 9622/3/4
Richard Handover, Group Chief Executive
Keith Hamill, Finance Director
Tim Blythe, Corporate Affairs Director
Schroders 0171 658 6000
Robert Swannell
Cazenove 0171 588 2828
David Mayhew
Schroders, which is regulated by The Securities and Futures Authority
Limited, is acting for WH Smith and no one else in connection with the Offer
and will not be responsible to anyone other than WH Smith for providing the
protections afforded to the customers of Schroders or for providing advice in
relation to the Offer or any matter referred to herein or in the Offer
Document.
END
OFFPBURCABGBGQC
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