Toscafund Asset Management LLP Further re Offer (6510E)
February 11 2015 - 8:00AM
UK Regulatory
TIDMASOG
RNS Number : 6510E
Toscafund Asset Management LLP
11 February 2015
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
11 FEBRUARY 2015
For immediate release
RECOMMENDED CASH OFFER FOR AVANTA SERVICED OFFICE GROUP PLC BY
TOSCA VEHICLE LIMITED
NOTICE OF COMPULSORY ACQUISITION
On 21 November 2014, Tosca Vehicle Limited ("TVL") announced
that it intended to make a cash offer for the entire issued and to
be issued share capital of Avanta Serviced Office Group plc
("Avanta" or the "Company") not already owned or agreed to be
acquired by, TVL, to be implemented by means of a takeover offer
within the meaning of Part 28 of the Companies Act 2006. This offer
was subsequently revised and, on 2 December 2014, TVL and the Board
of Avanta announced that they had reached agreement in relation to
an increased cash offer which was recommended by the Board of
Avanta (the "Offer").
On 2 January 2015, TVL announced that the Offer was
unconditional in all respects.
TVL today announces that as at 1 p.m. on 10 February 2015 valid
acceptances in respect of 97.9 per cent. of the shares to which the
Offer relates had been received. TVL announces that it now intends
to exercise the right given to it by section 979 of the Companies
Act 2006 to compulsorily acquire any remaining Avanta Shares.
Terms used but not defined in this announcement shall have the
meaning given to them in the Offer Document dated 10 December
2014.
Enquiries:
Toscafund Asset Management LLP Tel: +44(0) 207
Nigel Gliksten 845 6100
Whitman Howard Limited (financial Tel: +44(0) 207
adviser to TVL) 659 1250
Ranald McGregor-Smith
Nick Lovering
Whitman Howard Limited is authorised and regulated in the United
Kingdom by the Financial Conduct Authority. Whitman Howard Limited
is acting as financial adviser exclusively for Toscafund and TVL
and no-one else in connection with the matters set out in this
announcement and will not regard any other person as its client in
relation to the matters referred to in this announcement and will
not be responsible to anyone other than Toscafund and TVL for
providing the protections afforded to clients of Whitman Howard
Limited, nor for providing advice in relation to any matter
referred to herein.
This announcement is for information purposes only. It is not
intended to and does not constitute, or form part of, an offer or
invitation or the solicitation of any offer to sell or purchase any
securities or the solicitation of any offer to otherwise acquire,
subscribe for, sell or otherwise dispose of any security pursuant
to the Offer or otherwise. The Offer will be made solely by means
of the Offer Document and, in respect of Avanta Shares held in
certificated form, the Form of Acceptance, which will contain the
full terms and conditions of the Offer, including details of how
the Offer may be accepted. Any decision in respect of, or other
response to, the Offer should be made only on the basis of the
information contained in those documents.
This announcement does not constitute a prospectus or prospectus
equivalent document.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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