Information  X 
Enter a valid email address

Themis FTSE Fldg Idx (TFF)

  Print      Mail a friend

Tuesday 30 November, 1999

Themis FTSE Fldg Idx

Gartmore Offer Partly Unconditional

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


                                                                                                                                                                                                                                                         

a d v e r t i s e m e n t