Tribal Group PLC
21 July 2003
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
21 July 2003
Recommended offer
by
Dresdner Kleinwort Wasserstein
on behalf of
Tribal Group plc
for
HACAS Group PLC
Offer declared Wholly Unconditional
The board of Tribal Group plc ('Tribal' or the 'Company') announces that
following Admission the Offer has been declared wholly unconditional.
The Offer will remain open for acceptance until further notice subject to the
terms set out in the Offer Document and the Form of Acceptance.
Valid elections under the Mix and Match Facility have been received in respect
of 3,008,277 HACAS Shares to increase the level of cash received and in respect
of 393,348 HACAS Shares to increase the level of Tribal Shares received under
the Offer. The extent to which elections under the Mix and Match Facility will
be satisfied will not be finally known until after the time and date on which
the Mix and Match Facility closes, although, based on elections so far made,
elections to receive additional New Tribal Shares will be satisfied in full and
elections to receive additional cash will be scaled down on a pro rata basis.
The Mix and Match Facility will be closed with effect from 11.59 pm today.
Forms of Acceptance not yet returned should be completed and returned in
accordance with the instructions set out on the Form of Acceptance and in the
Offer Document, so as to be received as soon as possible.
The consideration will be despatched by first class post on or before 4 August
2003 to HACAS Shareholders who have validly accepted the Offer before the date
of this announcement. Thereafter, consideration will be despatched to HACAS
Shareholders who validly accept the Offer within 14 days of the date of receipt
of an acceptance complete in all respects.
In due course, Tribal intends to implement procedures set out in sections 428 to
430F of the Companies Act to acquire compulsorily any outstanding HACAS Shares
to which the Offer relates. In addition, application will be made to the London
Stock Exchange for the cancellation of the admission to trading on AIM of the
HACAS Shares, which is expected to take effect from 8.00a.m. on 19 August 2003,
being 20 business days following the date of this announcement.
The words and expressions defined in the Offer Document dated 26 June 2003 shall
apply for the purposes of this announcement.
Enquiries:
Tribal Group plc 01285 886020
Henry Pitman
Simon Lawton
HACAS Group PLC 020 7609 9491
Julian Ashby
Derek Joseph
The Offer is not being made and will not be made, directly or indirectly, in or
into, or by the use of mails or any means or instrumentality (including, without
limitation, telephonically or electronically) of interstate or foreign commerce
of, or any facility of a national securities exchange of, the United States,
Canada, Australia or Japan and the Offer will not be capable of acceptance by
any such use, means, instrumentality or facilities from within the United
States, Canada, Australia or Japan.
Dresdner Kleinwort Wasserstein, which is authorised and regulated by the
Financial Services Authority, is acting for Tribal and for no-one else in
connection with the Offer and will not be responsible to anyone other than
Tribal for providing the protections afforded to customers of Dresdner Kleinwort
Wasserstein, or for affording advice in relation to the contents of this
announcement or any matters referred to herein.
END
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