Compulsory Acqn of Shares
January 19 2005 - 2:00AM
UK Regulatory
RNS Number:5229H
Airport Concessions & Development
19 January 2005
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN
19 January 2005
Recommended Cash Offer
by
HSBC Bank plc
on behalf of
Airport Concessions and Development Limited
for
TBI plc
COMPULSORY ACQUISITION OF OUTSTANDING TBI SHARES
On 4 January 2005, Airport Concessions and Development Limited ("ACDL")
announced that the recommended cash offer, with a loan note alternative, to
acquire the entire issued and to be issued share capital of TBI plc ("TBI") had
been declared unconditional in all respects. It was also announced that as at 31
December 2004, ACDL either owned or had received valid acceptances in respect of
a total of 533,011,060 TBI shares in aggregate, representing approximately 92.88
per cent. of the existing issued ordinary share capital of TBI.
ACDL is today implementing the procedure under sections 428 to 430F of the
Companies Act 1985 to acquire compulsorily all of the outstanding TBI Shares
which it has not already acquired or in respect of which it has not already
received valid acceptances.
The Offer for the entire issued and to be issued share capital of TBI, as set
out in the Offer Document, will remain open for acceptance until further notice.
As previously announced, ACDL has procured the making of an application by TBI
for the cancellation of admission to listing and admission to trading of TBI's
Shares from the Official List of the UK Listing Authority and the London Stock
Exchange's market for listed securities which will take effect not earlier than
2 February 2005.
The definitions set out in the Offer Document dated 27 November 2004 have the
same meanings in this announcement.
ENQUIRIES
HSBC Bank plc Robin Phillips +44 (0)20 7991 8888
(Financial adviser and broker to Neil Goldie-Scot
ACDL)
Brunswick Jonathan Glass +44 (0)20 7404 5959
(PR adviser to ACDL)
The Offer is not being made, directly or indirectly, in or into the United
States, Australia, Canada or Japan. Accordingly, copies of this announcement,
the Offer Document, the Form of Acceptance and other related documents are not
being, and must not be taken, mailed or otherwise forwarded, distributed or sent
(directly or indirectly) in or into the United States, Australia, Canada or
Japan.
HSBC Bank plc, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for ACDL and its shareholders Abertis and Aena
Internacional and no one else in connection with the Offer and will not be
responsible to anyone other than ACDL and its shareholders Abertis and Aena
Internacional for providing the protections afforded to its clients nor for
providing advice in relation to the Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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