RNS Number:6119P
Abbot Group PLC
07 March 2008
Not for release, publication or distribution, in whole or in part in, into or
from the United States, Canada, Australia or Japan, or any other jurisdiction
where to do so would constitute a violation of the relevant laws of such
jurisdiction.
For immediate release
7 March 2008
ABBOT GROUP PLC
RECOMMENDED ACQUISITION OF ABBOT BY TURBO ALPHA
SCHEME OF ARRANGEMENT BECOMES EFFECTIVE
Abbot Group plc ("Abbot") is pleased to announce that the Scheme to effect the
recommended acquisition by Turbo Alpha of the entire issued and to be issued
share capital of Abbot has today become effective in accordance with its terms.
On 6 March 2008, the Court confirmed the reduction of capital which forms part
of the Scheme and the Reduction Order and accompanying minute in respect of such
reduction were delivered to, and registered by, the Registrar of Companies on 7
March 2008, whereupon the Scheme became effective.
The listing of Abbot Shares on the Official List was cancelled, and the Abbot
Shares ceased to be admitted to trading on the London Stock Exchange's market
for listed securities, in each case with effect from 8.00 a.m. (London time)
this morning. Abbot Shares were suspended from listing and dealings on the
London Stock Exchange at 5.00 p.m. (London time) on 6 March 2008.
Under the terms of the Scheme, Scheme Shareholders are entitled to receive 390
pence for each Scheme Share held at the Scheme Record Time (being 6.00 p.m.
(London time) on 6 March 2008). Settlement of the cash consideration in respect
of Scheme Shares is expected to be effected on or before 20 March 2008.
Capitalised terms used but not defined in this announcement have the same
meanings as given to them in the Scheme Document for the Transaction dated 23
January 2008.
Enquiries:
Abbot Group plc +44 (0)1224 299 600
Dr. George Watkins (Independent Director)
JPMorgan Cazenove +44 (0)20 7588 2828
Barry Weir
Malcolm Moir
Rothschild +44 (0)20 7280 5000
Philip Swatman
Stuart Vincent
Dominic Barrett-Evans
Arden Partners plc +44 (0)20 7398 1600
Richard Day
Tavistock Communications (PR Adviser) +44 (0)20 7920 3150
Jeremy Carey
Simon Hudson
Rachel Drysdale
The Abbot Directors accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Abbot Directors
(who have taken all reasonable care to ensure that such is the case) the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.
This announcement is not intended to and does not constitute or form any part of
an offer to sell, or invitation to subscribe for or purchase, any securities
pursuant to the Transaction or otherwise. The Scheme Document contains the full
terms and conditions of the Transaction.
JPMorgan Cazenove, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for Abbot and no-one else in connection with the
Transaction and will not be responsible to anyone other than Abbot for providing
the protections afforded to customers of JPMorgan Cazenove or for providing
advice in relation to the Transaction or any other matter referred to herein.
Rothschild, which is regulated in the United Kingdom by the Financial Services
Authority, is acting for Abbot and no-one else in connection with the
Transaction and will not be responsible to anyone other than Abbot for providing
the protections afforded to the customers of Rothschild or for providing advice
in relation to the Transaction or any other matter referred to herein.
Arden Partners plc, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for Abbot and no-one else in connection with the
Transaction and will not be responsible to anyone other than Abbot for providing
the protections afforded to the customers of Arden Partners plc or for providing
advice in relation to the Transaction or any other matter referred to herein.
The availability of the Transaction to persons who are not resident in the UK
may be affected by the laws of their relevant jurisdictions. Persons who are not
so resident should inform themselves about, and observe, any applicable
requirements. Further details in relation to overseas shareholders are contained
in the Scheme Document.
The release, publication or distribution of this announcement in jurisdictions
other than the UK may be restricted by law and therefore any persons who are
subject to the laws of any jurisdiction other than the UK should inform
themselves about, and observe, any applicable requirements. Any failure to
comply with such applicable requirements may constitute a violation of the
securities laws of any such jurisdiction. This announcement has been prepared
for the purpose of complying with English law and the City Code and the
information disclosed herein may therefore not be the same as that which would
have been disclosed if this announcement had been prepared in accordance with
the laws of jurisdictions outside the UK.
No listing authority or equivalent has reviewed, approved or disapproved of the
Scheme Document or any of the proposals described therein.
This information is provided by RNS
The company news service from the London Stock Exchange
END
SOAUBOARWRRORAR
|