Billam PLC
31 January 2002
Not for release, publication or distribution in, into or from the United States,
Canada, Australia or Japan
31 January 2002
Billam Plc ('Billam')
Recommended Offer by KBC Peel Hunt Ltd ('KBC Peel Hunt') on behalf of Billam Plc
for
World Life Sciences plc ('WLS')
Billam commences compulsory acquisition procedures
On 18 October 2001, a recommended offer was made by KBC Peel Hunt, on behalf of
Billam, for the entire issued share capital of WLS (other than that already
owned or controlled by Billam) (the 'Offer'), as set out in the Offer Document
dated 18 October 2001.
The directors of Billam are pleased to announce that as at 3.00pm on 25 January
2002, acceptances had been received from WLS shareholders holding 405,173,145
shares in that company. This together with the shares owned by Billam's wholly
owned subsidiary Billam AG represents in total approximately 94.64% of the
issued share capital of WLS.
The threshold for compulsory acquisition procedures having now been reached,
Billam will invoke sections 428 - 430 of the Companies Act 1985 to acquire the
outstanding shares and make WLS a 100% owned subsidiary. Billam will send out
shortly section 429 notices to all WLS shareholders who have not yet accepted
the Offer.
The Offer will close on 17 February 2002.
Enquiries:
Billam Plc - 020 7702 5544
Angus Forrest
Peter Hoskins
The directors of Billam accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Billam (who have taken all reasonable care to ensure such is the case), the
information contained herein for which they accept responsibility is in
accordance with the facts and does not omit anything likely to affect the import
of such information.
KBC Peel Hunt is acting for Billam in relation to the Offer and is not acting
for any other person and will not be responsible to any other person for
providing the protections afforded to customers of KBC Peel Hunt or for advising
them on any other matter in relation to the Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
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