Huveaux PLC
15 August 2005
Not for release, publication or distribution in or into the United States,
Australia, Canada, Japan or any other jurisdiction if to do so would constitute
a violation of the relevant laws of such jurisdiction
For immediate release 15 August 2005
Huveaux PLC
Recommended Offer for Epic Group plc
Huveaux PLC ('Huveaux') notes the announcements made on 12 August 2005 by
Futuremedia plc and Epic Group plc ('Epic').
The offer announced by Huveaux on 28 July 2005 (the 'Offer') provides for
consideration of 1.33 New Huveaux Shares and 35.0 pence in cash for each Epic
Share. Based on the closing price of 48 pence per Huveaux Share on 12 August
2005, the Offer currently values each Epic Share at 98.8 pence per share. This
represents a significant premium, of 48.6 per cent. over the closing Epic share
price of 66.5 pence on 27 June 2005 (the last business day prior to the
announcement that the Epic Board was in talks that might lead to an offer for
Epic).
The Offer remains the only firm offer for Epic and continues to be unanimously
recommended by the Epic Board. The Offer therefore provides certainty to Epic
Shareholders.
In aggregate, Huveaux has received irrevocable undertakings and a letter of
intent to accept, or to procure the acceptance of, the Offer in respect of
12,399,243 Epic Shares, representing 51.8 per cent. of the existing issued share
capital of Epic.
Epic Shareholders are reminded that the first closing date for acceptance of
the Offer is 18 August 2005 and Epic Shareholders are urged to accept the Offer
by this time.
The Offer, which remains subject to the terms and conditions set out in the
Offer Document, will remain open for acceptance until 3.00 p.m. on 18 August
2005. Huveaux reserves the right (but will not be obliged, other than as
required by the Panel) at any time and from time to time to extend the Offer
after such time.
To the extent they have not already done so, Epic Shareholders who hold their
Epic Shares in certificated form and who wish to accept the Offer should
complete, sign and return their Forms of Acceptance as soon as possible in
accordance with the instructions set out in the Offer Document and in the Form
of Acceptance.
Epic Shareholders who hold their Epic Shares in uncertificated form and who
wish to accept the Offer should send to CRESTCo a TTE Instruction in relation
to such shares as soon as possible. The procedure for acceptance of the Offer is
set out in paragraph 15 of Part II of the Offer Document.
Words and expressions defined in the Offer Document dated 28 July 2005 shall
have the same meaning when used in this announcement.
Enquiries
Huveaux 020 7245 0270
John van Kuffeler, Executive Chairman
Dresdner Kleinwort Wasserstein (Financial advisor to Huveaux) 020 7623 8000
Joe Thompson
Finsbury (Public Relations advisor to Huveaux) 020 7251 3801
James Leviton
Katie Lang
Dresdner Kleinwort Wasserstein, which is authorised and regulated by the
Financial Services Authority, is acting for Huveaux and for no-one else in
connection with the Offer and will not be responsible to anyone other than
Huveaux for providing the protections afforded to customers of Dresdner
Kleinwort Wasserstein, or for providing advice in relation to the Offer or any
matters referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange
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