AN. Alternative Net

TIDMAN.

RNS Number : 7680S

Alternative Networks plc

23 December 2016

AMENDMENT TO ANNOUNCEMENT RELEASED AT 9.30AM ON 23 DECEMBER 2016. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

FOR IMMEDIATE RELEASE

23 DECEMBER 2016

RECOMMENDED CASH ACQUISITION

of

ALTERNATIVE NETWORKS PLC

by

DAISY INTERMEDIATE HOLDINGS LIMITED

OFFER UPDATE - SCHEME OF ARRANGEMENT BECOMES EFFECTIVE

Further to the announcement of sanction of the Scheme by Court on 21 December 2016, Alternative Networks plc ("Alternative Networks") is pleased to announce that the Scheme to give effect to the Acquisition has now become Effective and Alternative Networks has now become a subsidiary of Daisy Intermediate Holdings Limited.

Each of the directors of Alternative Networks has resigned as a director with immediate effect.

Alternative Networks Shareholders on the register at the Scheme Record Time, being 6.00 p.m. on 22 December 2016, will receive 335 pence in cash for each Alternative Networks Share held. The latest date for despatch of cheques and settlement of cash consideration in relation to the Acquisition through CREST is on or by 6 January 2017.

Dealings in Alternative Networks Shares on AIM were suspended with effect from 7.30 a.m. (UK time) on 23 December 2016. The admission to trading of Alternative Networks Shares on AIM is expected to be cancelled at Alternative Networks' request with effect from 7.00 a.m. (UK time) on 28 December 2016. A further announcement will be made when the admission to trading of the Alternative Networks Shares has been cancelled.

Enquiries:

Alternative Networks

Gavin Griggs Tel: +44 (0) 870 190 7444

Investec Bank plc (Rule 3 adviser, nominated adviser and joint corporate broker to Alternative Networks)

Patrick Robb Tel: +44 (0) 20 7597 5000

Andrew Pinder

Carlton Nelson

N M Rothschild & Sons Limited (Financial adviser to Alternative Networks)

Warner Mandel Tel: +44 (0) 20 7280 5000

Stephan Bocklet

finnCap Limited (Joint corporate broker to Alternative Networks)

Stuart Andrews Tel: +44 (0) 20 7220 0565

Bell Pottinger Financial & Corporate (Public relations adviser to Alternative Networks)

Elly Williamson Tel: +44 (0) 20 3772 2500

Anna Legge

Definitions

Save where otherwise defined herein or where the context otherwise requires, terms defined in the document sent to shareholders of Alternative Networks dated 28 November 2016 (the "Scheme Document") bear the same meanings when used in this announcement (the "Announcement").

Disclaimers

Investec Bank plc ("Investec"), which is authorised by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the FCA and the PRA, is acting exclusively for Alternative Networks and for no one else in connection with the matters set out in this Announcement and will not regard any other person as its client in relation to the matters referred to in this Announcement and will not be responsible to anyone other than Alternative Networks for providing the protections afforded to clients of Investec nor for providing advice in relation to the Acquisition or any other matter or arrangement referred to in this Announcement.

N M Rothschild & Sons Limited ("Rothschild), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for Alternative Networks and for no one else in connection with the Acquisition and the contents of this Announcement and will not regard any other person as its client in relation to the matters referred to in this Announcement and will not be responsible to anyone other than Alternative Networks for providing the protections afforded to clients of Rothschild, or for providing advice in relation to the Acquisition, the contents of this Announcement or any other matters referred to herein.

finnCap Limited ("finnCap), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for Alternative Networks and for no one else in connection with the matters set out in this Announcement and will not regard any other person as its client in relation to the matters referred to in this Announcement and will not be responsible to anyone other than Alternative Networks for providing the protections afforded to clients of finnCap nor for providing advice in relation to the Acquisition or any other matter or arrangement referred to in this Announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

SOAFELFDDFMSEFE

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December 23, 2016 08:15 ET (13:15 GMT)

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