Information  X 
Enter a valid email address

Thomson Travel Grp. (TRV)

  Print          Annual reports

Thursday 20 July, 2000

Thomson Travel Grp.

Offer Update

Thomson Travel Group PLC
20 July 2000



Not for release, publication or distribution in or into the United States of
America.


Recommended Cash Offer by Goldman Sachs International on behalf of 
Preussag AG for Thomson Travel Group plc

OFFER EXTENDED TO 11 AUGUST 2000

The Board of Preussag announces that, as at 3.00 p.m. on Wednesday, 19 July
2000, being the second closing date of the recommended cash offer for Thomson
Travel Group, Preussag either owns or has received acceptances in respect of a
total of 791,458,278 Thomson Travel Group Shares, representing approximately
79.1 per cent. of the issued share capital of Thomson Travel Group. 

Valid acceptances of the Offer have been received in respect of a total of
592,457,102 Thomson Travel Group Shares, representing approximately 59.2 per
cent. of the issued share capital of Thomson Travel Group.  This includes
acceptances received pursuant to irrevocable undertakings from the Directors
and certain institutional shareholders of Thomson Travel Group in respect of,
in aggregate, 253,618,357 Thomson Travel Group Shares, representing
approximately 25.4 per cent. of the issued share capital of Thomson Travel
Group.

In addition, during the Offer Period, Preussag has acquired 199,001,176
Thomson Travel Group Shares, representing approximately 19.9 per cent. of the
issued share capital of Thomson Travel Group. 

The Board of Preussag announces that the Offer has been extended and will
remain open for acceptance until 3.00 p.m. on Friday, 11 August 2000. The
Board of Preussag anticipates receiving a decision as to whether the
transaction will be cleared by the European Commission without a detailed
second stage investigation by Wednesday, 26 July 2000. Thomson Travel Group
Shareholders who wish to accept the Offer but have not already done so, should
do so as soon as possible.

Save as disclosed above, neither Preussag nor any person deemed to be acting
in concert with Preussag held any Thomson Travel Group Shares or rights over
Thomson Travel Group Shares prior to the commencement of the Offer Period on 4
April 2000, or has either acquired or agreed to acquire any Thomson Travel
Group Shares or rights over Thomson Travel Group Shares since then.

Terms defined in the Offer Document dated 14 June 2000 have the same meaning
in this announcement unless the context otherwise requires.

Enquiries:

Preussag AG

Dr. Susanne Knorre               +49 511 566 1326 
Dr. Frank Laurich                +49 511 566 1427 

Goldman Sachs International 

Nigel Robinson                   +44 207 774 1000


The Offer is not being made, directly or indirectly, in, or into, or by use of
the mails of, or any means or instrumentality (including, without limitation,
facsimile transmission, e-mail, telex or telephone) of interstate or foreign
commerce of or any facilities of a national securities exchange of, the United
States and the Offer is not capable of acceptance by such use, means,
instrumentality or facilities.

Goldman Sachs International, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting exclusively for Preussag
and for no one else in connection with the Offer and will not be responsible
to anyone other than Preussag for providing the protections afforded to
customers of Goldman Sachs International or for giving advice in relation to
the Offer or any matters referred to herein.

The Directors of Preussag accept responsibility for the information contained
in this announcement and, to the best of their knowledge and belief (have
taken all reasonable care to ensure that such is the case), the information
contained in this advertisement is in accordance with the facts and does not
omit anything likely to affect the import of such information.

The contents of this announcement, which have been prepared by and are the
sole responsibility of Preussag, have been approved by Goldman Sachs
International for the sole purposes of section 57 of the Financial Services
Act 1986.



                                                                                
                                                                                
                                                         

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