INTEREUROPE TECHNOLOGY SERVICES PLC
13 August 1999
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO CANADA AUSTRALIA, JAPAN
OR THE UNITED STATES OF AMERICA.
RIDGMOUNT HOLDINGS LIMITED ('RIDGMOUNT')
OFFER FOR INTEREUROPE TECHNOLOGY SERVICES PLC ('INTEREUROPE'): LEVEL OF
ACCEPTANCES AND EXTENSION OF THE OFFER
Ridgmount announces that by 3.00pm on 12 August 1999, the first closing date of
the Offer made by it for Intereurope, valid acceptances had been received in
respect of a total of 702,829 Intereurope Shares, representing approximately
16.14 per cent of the existing issued share capital of Intereurope.
On 15 July 1999, prior to the commencement of the Offer Period Ridgmount
conditionally agreed to acquire from David Immanuel and the Trustees of the
Language Studies Retirement Fund 1,187,178 Intereurope shares representing
approximately 27.2% of the issued share capital of Intereurope.
In addition to the 1,187,178 Intereurope Shares which Ridgmount had already
conditionally agreed to acquire, Ridgmount had received irrevocable undertakings
to accept the Offer from certain Intereurope shareholders connected with, and
including, members of the Immanuel family in respect of, in aggregate, 1,465,897
Intereurope shares. The shares subject to these undertakings, when taken
together with the Intereurope shares which Ridgmount had already conditionally
agreed to acquire, represent approximately 60.9% of Intereurope's existing
issued share capital. Such undertakings to accept the Offer were only to come
into effect if acceptances of the Offer had been received for such number of
shares in Intereurope as, when added to the Intereurope shares which Ridgmount
had already conditionally agreed to acquire and the Intereurope shares the
subject of these irrevocable undertakings, equalled at least 75% of the entire
issued share capital of Intereurope. Such undertakings to accept the Offer have
now come into effect.
Other than as disclosed above, neither Ridgmount nor any persons deemed to be
acting in concert with Ridgmount owned any Intereurope Shares (or rights over
such shares) immediately prior to the commencement of the Offer Period, nor have
acquired or agreed to acquire any Intereurope Shares (or rights over such
shares) during the Offer Period.
The Offer has been extended until 3.00pm on 26 August 1999. Intereurope
Shareholders who have not yet accepted the Offer and who wish to do so should
dispatch their completed Forms of Acceptance as soon as possible.
Defined terms in this announcement have the same meanings as in the Offer
Document issued by Ridgmount on 22 July 1999 containing the Offer.
Enquiries:
David Immanuel: 0171-467-6502
This announcement has been issued by Ridgmount Holdings Limited. The directors
of Ridgmount Holdings Limited accept responsibility for the information
contained in this announcement. To the best of the knowledge and belief of the
directors of Ridgmount Holdings Limited (who have taken all reasonable care to
ensure that such is the case), the information contained herein for which they
are responsible is in accordance with the facts and does not omit anything
likely to affect the import of such information.
The contents of this announcement have been approved by McClure Naismith,
solicitors in Scotland, of Pountney Hill House, 6 Laurence Pountney Hill, London
EC4R 0BL acting for Ridgmount and who are authorised by the Law Society of
Scotland in the conduct of investment business. With the exception of any
responsibility arising from that approval for the purposes of Section 57 of the
Financial Services Act 1986, only McClure Naismith have not undertaken and will
not owe any other duty to any person in relation to this document, save for
Ridgmount to whom they have acted as legal advisers (including in relation to
the requirements of the City Code) only.
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Obtains access to the information in a personal capacity;
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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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