EFFECTIVE DATE OF SCHEME OF ARRANGEMENT (4373P)
October 03 2011 - 9:35AM
UK Regulatory
TIDMAVE
RNS Number : 4373P
Avis Europe PLC
03 October 2011
Avis Europe plc
3 October 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
AVIS EUROPE PLC
EFFECTIVE DATE OF SCHEME OF ARRANGEMENT
Avis Europe plc ("Avis Europe") is pleased to announce that the
scheme of arrangement to effect the recommended proposal for the
acquisition of Avis Europe by AE Consolidation Limited (a wholly
owned subsidiary of Avis Budget Group, Inc.) (the "Scheme") has
today become Effective. Alun Cathcart, Jean-Pierre Bizet, Les
Cullen, Roland D'Ieteren, Benoit Ghiot, Andreas Heinze and Pierre
Alain De Smedt have today resigned from the board of directors of
Avis Europe.
An application has been made to the UK Listing Authority
requesting the cancellation of the listing of Avis Europe Shares on
the Official List as well as trading of Avis Europe Shares on the
London Stock Exchange's main market for listed securities.
The consideration of 315 pence per Scheme Share to be paid by AE
Consolidation Limited to Scheme Shareholders pursuant to the Scheme
is expected to be despatched (in the case of certificated holders
of Scheme Shares) or settled in CREST (in the case of
uncertificated holders of Scheme Shares) by no later than 17
October 2011.
Terms and expressions in this announcement shall, unless the
context otherwise requires, have the same meanings as given to them
in the circular of Avis Europe, dated 11 July 2011 sent to Avis
Europe Shareholders relating to the Scheme.
Enquiries:
Avis Europe plc Tel: +44 (0) 1344 42
Pascal Bazin, (Chief Executive Officer) 6644
Martyn Smith, (Chief Financial Officer)
Barclays Capital (financial adviser Tel: +44 (0)20 7623
to Avis Europe) 2323
Matthew Smith
Stuart Ord
MHP Communications (public relations Tel: +44 (0)20 3128
adviser to Avis Europe) 8100
Andrew Jaques
Barnaby Fry
Simon Hockridge
Barclays Capital, which is authorised and regulated in the
United Kingdom by the FSA, is acting exclusively for Avis Europe
and no one else in connection with the Acquisition and will not be
responsible to anyone other than Avis Europe for providing the
protections afforded to its clients for providing advice in
relation to the Acquisition or in relation to the contents of this
announcement or any transaction or any other matters referred to
herein.
The release, publication or distribution of this announcement in
jurisdictions other than the United Kingdom may be restricted by
law and therefore any persons who are subject to the laws of any
jurisdiction other than the United Kingdom should inform themselves
about, and observe, any applicable legal and regulatory
requirements. Any failure to comply with the 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 may 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 United Kingdom.
Subject to compliance with their legal and regulatory
obligations, Avis Budget, AE Consolidation and Avis Europe do not
intend, or undertake any obligation, to update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
In accordance with Rule 19.11 of the City Code, a copy of this
announcement will be made available on the following website:
www.avis-europe.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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