ITE Group PLC
26 July 2005
NOT FOR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND,
SOUTH AFRICA OR JAPAN
ITE Group plc ('ITE' or 'the Company')
Result of Tender Offer
The Board of ITE announces that valid tenders pursuant to the Tender Offer made
by Numis Securities, which closed at 3.00 p.m. on 25 July 2005, were received
for 70,948,195 Shares, at 103 pence per Share.
In accordance with the terms of the Tender Offer, tenders have been accepted on
the following basis:
(i) valid tenders of up to 1,000 Shares have been accepted in
full, for an aggregate total of 344,875 Shares;
(ii) valid tenders for more than 1,000 Shares have been accepted
in full for the first 1,000 Shares tendered and thereafter for approximately
40.1 per cent. of the Shares tendered in excess of 1,000 Shares.
Accordingly, Numis has acquired the maximum number of Shares possible under the
terms of the Tender Offer (after roundings from tbe scaling back of tenders),
being 29,126,208, at the Tender Price, for a total aggregate consideration of
£30 million.
The Shares acquired by Numis under the Tender Offer have been re-purchased by
ITE and will be cancelled.
Consideration due to Shareholders under the Tender Offer is expected to be
despatched to Shareholders on 1 August 2005.
Definitions used in this announcement have the same meanings given in the Tender
Offer document sent to Shareholders dated 7 July 2005 setting out the formal
terms of and condition to the Tender Offer.
ENQUIRIES
ITE Group plc +44(0) 20 75965000
Ian Tomkins, Chief Executive Officer
Russell Taylor, Finance Director
Numis Securities +44 (0) 20 77761500
Chris Wilkinson
Merlin +44 (0) 20 76536620
+44 (0) 7941 085506
Bridget Fury
This information is provided by RNS
The company news service from the London Stock Exchange
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