Themis FTSE Fledgling Index Trust PLC
30 November 1999
Gartmore Fledgling Index Trust plc
('Gartmore Fledgling' or the 'Company')
Offer for Themis FTSE Fledgling Index Trust PLC
('Themis Fledgling')
Further to its announcement of 11th November 1999 of a share
for share offer by the Company for Themis Fledgling (the
'Offer'), the Board of Directors of Gartmore Fledgling
announces that as at 12.00 noon today it had received valid
acceptances for the Offer from shareholders holding in
aggregate 30,051,073 shares in Themis Fledgling (representing
59.78% of Themis Fledgling's issued share capital), and that
the Offer is declared unconditional as to acceptances as of
today's date. The Offer will remain open for acceptance until
further notice.
Prior to the offer period, British Empire Securities and
General Trust plc ('British Empire') which holds 10,585,000
Themis Fledgling Shares, representing approximately 21.1 per
cent of the current issued share capital of Themis Fledgling,
irrevocably undertook to accept the Offer and, in addition,
Themis Fledgling Shareholders holding in aggregate 13,591,951
Themis Fledgling Shares, representing approximately 27.0 per
cent. of the current issued share capital of Themis Fledgling,
indicated their intention to accept the Offer. Taken
together, this irrevocable undertaking and these letters of
intent represent 48.1 per cent. of the current issued share
capital of Themis Fledgling.
Save as disclosed above, neither Gartmore Fledgling nor any
party acting in concert or deemed to be acting in concert with
Gartmore Fledgling held, or held rights over, any Themis
Fledgling Shares on or before the commencement of the offer
period nor has any such person acquired or agreed to acquire
any Themis Fledgling Shares or rights over any Themis
Fledgling Shares since the commencement of the offer period.
In accordance with the terms and conditions of the Offer, 30
November 1999 will constitute the date as at which the Formula
Asset Value of Themis Fledgling will be calculated for the
purposes of determining the number of Gartmore Fledgling
shares to which shareholders in Themis Fledgling will be
entitled under the Offer.
The Offer was approved yesterday by Gartmore Fledgling
shareholders at an extraordinary general meeting.
The Offer is still conditional upon, inter alia, the admission
of the Gartmore Fledgling shares to be issued pursuant to the
Offer to the Official List of the London Stock Exchange
becoming effective.
Dresdner Kleinwort Benson, which is regulated in the United
Kingdom by The Securities and Futures Authority Limited, is
acting exclusively for Gartmore Fledgling and for no-one else
in connection with the Offer and will not be responsible to
anyone other than Gartmore Fledgling for providing the
protections afforded to customers of Dresdner Kleinwort Benson
or for providing advice in relation to the Offer.
Enquiries:-
Gartmore Investment Limited Tel: 0207 782 2000
Michael Wrobel
Dresdner Kleinwort Benson Tel: 0207 623 8000
Andrew Zychowski