Acorn Group PLC - Offer Acceptances
May 26 1999 - 2:46AM
UK Regulatory
RNS No 8530p
ACORN GROUP PLC
26 May 1999
Not for release, distribution or publication in or into the
United States, Canada, Australia or Japan.
MSDW Investment Holdings Limited
recommended Offer for
Acorn Group plc
Level of acceptances and extension of recommended Offer
On behalf of MSDW Investment Holdings Limited, a wholly owned
subsidiary of the Morgan Stanley Dean Witter Group,
Morgan Stanley & Co. Limited announces that the recommended
Offer for all the issued and to be issued share capital of
Acorn Group plc has been extended to 3.00pm on
Tuesday, 8 June 1999.
By 3.00pm on Tuesday, 25 May 1999, the first closing date of
the Offer, valid acceptances of the Offer had been received in
respect of 83,655,253 Acorn Shares representing approximately
89.0 per cent. of the issued share capital of Acorn.
Prior to the commencement of the Offer period, the
Morgan Stanley Dean Witter Group owned 100 Acorn Shares
representing approximately 0.0001 per cent. of the issued share
capital of Acorn.
Accordingly, as at 3.00pm on Tuesday, 25 May 1999, the
Morgan Stanley Dean Witter Group owned or had received
valid acceptances in respect of a total of 83,655,353 Acorn Shares
representing approximately 89.0 per cent. of the issued share
capital of Acorn.
Save as set out above, neither the Morgan Stanley Dean
Witter Group nor any persons acting in concert with the
Morgan Stanley Dean Witter Group owned any Acorn Shares
or rights over Acorn Shares prior to the commencement of the
Offer period, nor have they acquired or agreed to acquire any
Acorn Shares or rights over Acorn Shares during the Offer period
other than by way of acceptances of the Offer.
Terms defined in the Offer document dated 4 May 1999 shall
have the same meaning in this announcement.
Press enquiries:
Morgan Stanley & Co. Limited Simon Robey 0171 425 5000
This announcement is not being made directly or indirectly in or
into the United States, Canada, Australia or Japan, or to any
North American Person or resident of Australia or Japan or by
use of the mails of, or by any means or instrumentality of
interstate or foreign commerce of, or any facilities of a national
securities exchange of, any of the aforesaid jurisdictions. This
includes, but is not limited to, the post, facsimile transmission,
telex, or any other electronic forms of transmission and
telephone. Accordingly, copies of this announcement are not
being sent and must not be mailed or otherwise distributed or
sent in or into the United States, Canada, Australia or Japan
including to Acorn Shareholders, or participants in the Acorn
Share Option Schemes or the Element 14 Share Option
Scheme, with registered addresses in any of the aforesaid
jurisdictions or to persons whom MSDW Investment Holdings
knows, or has reason to believe, to be custodians, trustees or
nominees holding Acorn Ordinary Shares for persons with
addresses in any of the aforesaid jurisdictions. Persons
receiving this announcement and/or such documents
(including, without limitation, custodians, nominees and
trustees) must not distribute or send them in, into or from the
United States, Canada, Australia or Japan or use such mails or
any such means, instrumentality or facility for any purpose
directly or indirectly in connection with the Offer, and so
doing may invalidate any purported acceptance of the Offer.
ARM Shares being offered under the Offer have not been
and will not be registered under the United States Securities
Act 1933, as amended, or under the laws of any state of the
United States (and the relevant clearances have not been
and will not be obtained from the relevant authorities in
Canada, Australia and Japan) and may not be offered, sold,
re-sold or delivered directly or indirectly, in or into the
United States, Canada, Australia or Japan or to a U.S. person
(as this term is defined in Regulation S under the United States
Securities Act 1933, as amended), except pursuant to
exemptions from the applicable requirements of such
jurisdictions.
The availability of the Offer to persons not resident in the
United Kingdom may be affected by the laws of the relevant
jurisdictions. Acorn Shareholders who are not resident in the
United Kingdom should inform themselves about, and
observe, any applicable requirements.
Morgan Stanley & Co. Limited, which is regulated by
The Securities and Futures Authority Limited, is acting for
MSDW Investment Holdings and for no one else in
connection with the Offer and will not be responsible to
anyone other than MSDW Investment Holdings for providing
the protections afforded to customers of
Morgan Stanley & Co. Limited nor for providing advice in
relation to the Offer.
END
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