Acorn Group PLC - Offer Wholly Unconditional
June 01 1999 - 2:46AM
UK Regulatory
RNS No 698v
ACORN GROUP PLC
1 JUNE 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
Offer wholly unconditional
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 is hereby declared wholly unconditional and will remain open
until further notice.
The consideration payable to accepting Acorn Shareholders is
expected to be despatched on or before 15 June 1999 in respect of
acceptances received by 3.00pm on 1 June 1999 which are valid and
complete in all respects or within 14 days of the date of receipt in
respect of further acceptances which are valid and complete in
all respects.
By 3.00pm on Friday, 28 May 1999, valid acceptances of the Offer
had been received in respect of 84,937,653 Acorn Shares
representing approximately 90.15 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 Friday, 28 May 1999, the
Morgan Stanley Dean Witter Group owned or had received valid
acceptances in respect of a total of 84,937,753 Acorn Shares
representing approximately 90.15 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.
MSDW Investment Holdings Limited gave notice of its intention
to procure the delisting of the Acorn Shares in the Offer
document dated 4 May 1999, such cancellation to take effect
not earlier than 20 Business Days after the Offer became wholly
unconditional. MSDW Investment Holdings Limited will,
therefore, now apply for the delisting of the Acorn Shares to
take effect from 29 June 1999.
Terms defined in the Offer document dated 4 May 1999 shall
have the same meaning in this announcement.
Press enquiries:
Morgan Stanley Dean Witter
Euart Glendinning Corporate Communications 0171 425 4942
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 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
OFFAAAOKKNKVOAR
Advance Capital (LSE:ACN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Advance Capital (LSE:ACN)
Historical Stock Chart
From Jul 2023 to Jul 2024