HW Group PLC
16 December 1999
HW Group PLC
Not for release, distribution or publication in or into Canada, Australia or
Japan
Recommended acquisition of HW Group PLC by TMP Worldwide Inc. ('the
Acquisition')
The scheme document (the 'Scheme Document') incorporating the recommended
proposal for the acquisition of HW by TMP, to be effected by means of a
scheme of arrangement under section 425 of the Companies Act 1985
(the 'Scheme'), is being posted to HW Shareholders today.
Notices of the Meeting convened by order of the High Court and of the
Extraordinary General Meeting to approve and implement the Scheme, each of
which is to be held on 12 January 2000 at the offices of Credit
Lyonnais Securities, Broadwalk House, 5 Appold Street, London EC2A 2DA are set
out in the Scheme Document.
To become effective, the Scheme will also require the sanction of the
High Court following a hearing which is expected to take place on 14
February 2000. Subject to the Scheme becoming effective on 16 February
1999, dealings in HW Shares are expected to cease on the London Stock
Exchange on 15 February 1999. Commencement of the quotation on NASDAQ, and
dealings in, the new TMP Shares to be issued to HW Shareholders is
expected on 17 February 1999.
Words and expressions defined in the Scheme Document dated 16 December
1999 shall, unless the context otherwise requires, have the same meaning
when used in this announcement.
Enquiries:
HW Group PLC Richard Mead/Graham Palfery-Smith 0207 240 2101
Credit Lyonnais Securities Nicholas Naylor 0207 588 4000
Credit Lyonnais Securities, which is regulated by The Securities and
Futures Authority Limited, is acting for HW Group PLC and no-one else in
connection with the Acquisition and will not be responsible to anyone
other than HW Group PLC for providing the protections afforded to customers
of Credit Lyonnais Securities, nor for providing advice in relation to the
Acquisition.
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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