Rightmove Plc
13 April 2007
Statement re Apollo offer for Countrywide
Rightmove plc ('Rightmove') notes that the offer for Countrywide plc
('Countrywide') from Apollo Management has today been approved by Countrywide
shareholders. Under the terms of that offer Countrywide shareholders will
receive a mixture of cash and Rightmove shares. Rightmove believes that this
distribution of Countrywide's holding in Rightmove (28.5 million shares or 21.5%
of Rightmove's share capital) will substantially increase the level of liquidity
in Rightmove shares and broaden the shareholder base to the benefit of existing
and future shareholders. Further, Countrywide has established a process by which
its shareholders may sell Rightmove shares in an orderly market to satisfy
current demand for Rightmove shares.
Rightmove confirms that all aspects of the commercial agreements between
Rightmove and Countrywide remain in place uincluding the agreement to list all
Countrywide estate agency properties on Rightmove.co.uk until at least March
2009.
END
For further information:
Rightmove: Ed Williams, Group Managing Director +44 (0)20 7318 9095
Maitland: Brian Hudspith +44 (0)20 7379 5151
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