Result of Open Offer and EGM

Mulberry Group PLC 01 September 2003 MULBERRY GROUP PLC 1 SEPTEMBER 2003 Result of Open Offer and Extraordinary General Meeting On 6 August 2003 the Company announced an underwritten open offer of 12,613,463 New Ordinary Shares of 5p each in the Company at a price of 28p per share to raise approximately £3.5 million before expenses. The Open Offer closed at 3.00 p.m. on 29 August 2003. Valid applications were received in respect of 8,472,747 New Ordinary Shares representing 67 per cent. of the New Ordinary Shares the subject of the Open Offer. The balance of the New Ordinary Shares will be taken up by Challice Limited ('Challice') under the terms of the Open Offer Agreement. Taking into account the undertaking not to subscribe from the Roger Saul Family Interests this take-up represents 92.55 per cent. of the Open Offer Shares. The Company is pleased to announce that all the resolutions put to the shareholders of the Company at the extraordinary general meeting held today, details of which were set out in the circular to shareholders dated 7 August 2003, were duly passed. The New Ordinary Shares have been issued and allotted and will commence trading tomorrow, 2 September 2003. These resolutions included special resolution 1, relating to the waiver by the Panel on Takeovers and Mergers of any requirement for Challice to make a general offer to shareholders of the Company under Rule 9 of the City Code on Takeovers and Mergers, which would otherwise arise by reason of Challice taking up its entitlement and its underwriting commitment under the Open Offer. As a result of the issue to Challice of 6,571,428 New Ordinary Shares in the Company pursuant to the Open Offer and 4,140,716 New Ordinary Shares pursuant to the Underwriting, Challice is now interested in 25,712,144 New Ordinary Shares in the Company which equates to 53 per cent. of the enlarged issued share capital of the Company. Unless the context otherwise requires, defined terms used in this announcement shall have the meanings given to them in the circular to shareholders of the Company dated 7 August 2003. Enquiries Godfrey Davis Chairman & Chief Executive 01749 340 501 Christopher Hardie Teather & Greenwood 0207 426 9000 Dugald Carlean Alex Glover WMC Communications 0207 591 3999 END This information is provided by RNS The company news service from the London Stock Exchange
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