Babcock International Group PLC
07 August 2007
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
PRESS ANNOUNCEMENT
7 August 2007
BABCOCK INTERNATIONAL GROUP PLC ('BABCOCK') FINAL CASH OFFER FOR INTERNATIONAL
NUCLEAR SOLUTIONS PLC ('INS' OR THE 'COMPANY')
OFFER UPDATE
On 9 July 2007, Babcock announced that the Final Cash Offer had become
unconditional in all respects.
As at 3.00 p.m. (London time) on 7 August 2007, Babcock has acquired or has
received valid acceptances in respect of a total of 37,128,350 INS Shares,
representing approximately 58.9 per cent. of the existing issued share capital
of INS.
Of this total:
- Babcock owns (other than pursuant to valid acceptances of the Final Cash
Offer) 27,954,131 INS Shares, representing approximately 44.3 per cent. of
the existing issued share capital of INS; and
- Babcock has received valid acceptances for 9,174,219 INS Shares representing
approximately 14.6 per cent. of the existing issued share capital of INS
(including acceptances pursuant to irrevocable undertakings to accept the
Final Cash Offer in respect of a total of 253,904 INS Shares, representing
approximately 0.4 per cent. of the existing issued share capital of INS).
Extension of the Final Cash Offer
The Board of Babcock announces that the Final Cash Offer has been extended and
will remain open for acceptance for a further 14 days, until 3.00 p.m. on
21 August 2007.
Procedure for acceptance
INS Shareholders who have not yet accepted the Final Cash Offer are urged to do
so as soon as possible and in any event no later than 3.00 p.m. on 21 August
2007. The procedure for acceptance is set out in paragraph 18 of Part 2 of the
Offer Document.
Forms of Acceptance not yet returned should be completed and returned in
accordance with the instructions set out in the Offer Document and in the Form
of Acceptance so as to be received as soon as possible and in any event no later
than 3.00 p.m. on 21 August 2007.
If INS Shares are held in CREST acceptance should be made electronically so that
the TTE instruction settles as soon as possible and in any event no later than
3.00 p.m. on 21 August 2007.
Settlement for INS Shareholders who have validly accepted the Final Cash Offer
will be despatched within 14 days of the relevant acceptance by first class post
(in the case of INS Shares held in certificated form) or credited to the
relevant CREST account (in the case of INS Shares held in uncertificated form).
Settlement of the consideration in respect of further acceptances of the Final
Cash Offer, which are valid and complete in all respects, will be despatched
within 14 days of receipt.
Terms defined in the Offer Document dated 19 June 2007 shall have the same
meaning in this announcement.
Enquiries:
Babcock Telephone: +44 (0) 20 7291 5000
Gordon Campbell
Peter Rogers
Bill Tame
Hawkpoint (financial adviser to Babcock) Telephone: +44 (0) 20 7665 4500
Chris Robinson
JPMorgan Cazenove (broker to Babcock) Telephone: +44 (0) 20 7588 2828
Dermot McKechnie
Financial Dynamics (Babcock PR enquiries) Telephone: +44 (0) 20 7269 7121
Susanne Walker
The release, publication or distribution of this announcement to persons who are
not resident in the United Kingdom may be affected by the laws of the relevant
jurisdictions in which they are located. Persons who are not resident in the
United Kingdom should inform themselves of, and observe, any applicable
requirements. Any failure to comply with such applicable requirements may
constitute a violation of the securities laws of any such jurisdictions.
Hawkpoint, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Babcock and no one else
in connection with the Final Cash Offer and will not be responsible to anyone
other than Babcock for providing the protections afforded to clients of
Hawkpoint nor for providing advice in relation to the Final Cash Offer, the
content of this announcement or any matter referred to herein.
JPMorgan Cazenove, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for Babcock and no one
else in connection with the Final Cash Offer and will not be responsible to
anyone other than Babcock for providing the protections afforded to clients of
JPMorgan Cazenove nor for providing advice in relation to the Final Cash Offer,
the content of this announcement or any matter referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
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