Offer Update - Wholly uncondi

RNS Number : 2038G

Mears Group PLC

27 January 2010

 



THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

27 January 2010

For immediate release

Recommended Offer by Mears Group PLC ("Mears") for the entire issued and to be issued ordinary share capital of Supporta plc ("Supporta")

Offer wholly unconditional

On 18 December 2009, Mears announced a recommended offer for the entire issued and to be issued share capital of Supporta. On 18 January 2010, Mears announced the offer was unconditional as to acceptances.

Today, Mears announce that the offer is wholly unconditional in all respects subject to Admission, which is expected to occur on 28 January 2010. As at 4.30 p.m. (London time) on 26 January 2010, valid acceptances had been received in respect of 52,917,715 Supporta Shares, representing approximately 61.21 per cent. of the issued share capital of Supporta.

Prior to making the Offer, Mears obtained irrevocable undertakings to accept, or procure the acceptance of, the Offer from certain Supporta Shareholders in respect of 30,128,122 Supporta Shares, representing in aggregate approximately 34.85 per cent. of the issued share capital of Supporta. Mears has received valid acceptances in relation to all Supporta Shares subject to these irrevocables.  

Mears announced on 18 January 2019 that the Offer, which, save as disclosed in this announcement, remains subject to the terms and the conditions set out or referred to in the Offer Document posted to Supporta Shareholders on 22 December 2009, will remain open for acceptance until 2.00 p.m. on 9 February 2010 ("Revised Second Closing Date").

Procedure for acceptance of the Offer 

To accept the Offer in respect of certificated Supporta Shares, the Form of Acceptance should be completed, signed and returned to Neville Registrars at Neville House, 18 Laurel Lane, Halesowen, West Midlands, BD63 3DA, as soon as possible, but in any event so as to arrive not later than 2.00 p.m. (London time) on the Second Closing Date. Acceptances in respect of uncertificated Supporta Shares should be made electronically through CREST so that the TTE instruction settles not later than 2.00 p.m. on the Revised Second Closing Date.

The procedure for acceptance (including the additional requirements for those Supporta Shareholders who hold their Supporta Shares in uncertificated form) is set out in paragraph 14 of Part II of the Offer Document and, in respect of holders of Supporta Shares in certificated form, in the Form of Acceptance.

If you have any questions on the completion of the Form of Acceptance, please telephone Neville Registrars on 0121 585 1131 from within the UK or on + 44 121 585 1131 if calling from outside the UK. This helpline is available from 9.00 a.m. to 5.00 p.m. (London time) Monday to Friday (except UK public holidays). For legal reasons, the helpline will not be able to provide advice on the merits of the Offer or to provide financial advice.

Further Information 

Copies of the Offer Document, Equivalent Document and the Form of Acceptance are available (during normal business hours) from Neville Registrars, Neville House, 18 Laurel Lane, Halesowen, West Midlands, BD63 3DA.

A copy of all announcements made by Mears and documents sent by Mears, including the Offer Document, Equivalent Document and this announcement, are available at: http://www.mearsgroup.co.uk

Save as disclosed above, neither Mears nor any person acting in concert with Mears for the purposes of the Offer is interested in or has any rights to subscribe for any Supporta Shares nor does any such person have any short position or any arrangement in relation to Supporta Shares. For these purposes "arrangement" includes any agreement to sell or any dealing obligation or right to require another person to purchase or take delivery of, and borrowing or lending of, Supporta Shares. An "arrangement" also includes any indemnity or option arrangement, any agreement or understanding, formal or informal, of whatever nature, relating to Supporta Shares which may be an inducement to deal or refrain from dealing in such securities. "Interest" includes any long economic exposure, whether conditional or absolute, to changes in the prices or securities and a person is treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to securities. 

The expressions used in this announcement, unless the context otherwise requires, bear the same meaning as in the Offer Document dated 22 December 2009. 

Settlement of the consideration due under the Offer in respect of valid acceptances which have been received and are complete in all respects, will be despatched on or before 10 February 2010. Settlement of the consideration in respect of further acceptances which are valid and complete in all respects and received prior to 2.00 p.m. on 9 February 2010 will be despatched within 14 days of receipt.

Enquiries:

Mears Group PLC

Bob Holt, Chairman                                         Tel: [phone]

Andrew Smith, Finance Director                       Tel: [phone]

Investec

Keith Anderson                                               Tel: [phone]

Daniel Adams            

Collins Stewart                                                Tel: [phone]

Mark Dickenson          

Ileana Antypas

Threadneedle Communications                         Tel: [phone]

Trevor Bass            

Alex White

Hansard Communications                                Tel: [phone]

John Bick    /Kirsty Corcoran                            Tel: [phone]        

Investec Bank Plc, which is authorised and regulated in the United Kingdom by the Financial Services Authority is acting exclusively for Mears and no one else in connection with the Offer and will not be responsible to anyone other than Mears for providing the protections afforded to clients of Investec Bank Plc or for providing advice in connection with the Offer.

Collins Stewart Europe Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority is acting exclusively for Mears and no one else in connection with the Offer and will not be responsible to anyone other than Mears for providing the protections afforded to clients of Collins Stewart Europe Limited or for providing advice in connection with the Offer.

This announcement does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy any security, nor is it a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law. 

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about, and observe, such restrictions. Failure to comply with the restrictions may constitute a violation of securities laws of any such jurisdiction. 

Unless otherwise determined by Mears and permitted by applicable law and regulation, the Offer is not being, and will not be, made, directly or indirectly, in, into or from, or by use of the mails of, or by any means or instrumentality (including, without limitation, facsimile transmission, telex, telephone or email) of interstate or foreign commerce of, or by any facility of a national securities exchange of, nor will it be made in, into or from the United States, Canada, Australia, the Republic of South Africa, New Zealand, the Republic of Ireland or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction and the Offer will not be capable of acceptance by any such use, means, instrumentality or facilities. Accordingly, copies of this announcement, the Offer Document, the Form of Acceptance and any other documents relating to the Offer are not being, and must not be, directly or indirectly, mailed, transmitted or otherwise forwarded, distributed or sent, in whole or in part, in, into or from the United States, Canada, Australia, the Republic of South Africa, New Zealand, the Republic of Ireland or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction and persons receiving such documents (including custodians, nominees and trustees) must not directly or indirectly mail, transmit or otherwise forward, distribute or send them in, into or from any such jurisdiction as to do so may invalidate any purported acceptance of the Offer. 

Rule 19.11 disclosure 

In accordance with Rule 19.11 of the Code, a copy of this Announcement will be published on the Mears website: www.mearsgroup.co.uk. 

 

END

 

 

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