Response to Rule 2.5 offer
March 30 2009 - 6:28AM
UK Regulatory
TIDMTLR
RNS Number : 7090P
Local Radio Company PLC (The)
30 March 2009
30 March 2009
THE LOCAL RADIO COMPANY PLC ("LRC" OR THE "COMPANY")
Response to Rule 2.5 offer
The board of LRC (the "Board") notes the announcement made on Friday afternoon
by UKRD Group Limited ("UKRD") setting out the terms of a cash offer (the
"Offer") to be made by UKRD to acquire all of the issued and to be issued
ordinary shares of the Company which are not already owned or otherwise
contracted to be acquired by UKRD. The Offer values each ordinary share of LRC
at 2p and LRC's entire issued share capital at approximately GBP1.44 million.
The Board will consider the offer document once it is posted by UKRD and will
respond to the Offer in due course.
At this time the Board advises LRC's shareholders to take no action regarding
the Offer until they have had the opportunity to consider the Board's response
to the Offer. This response will be sent to LRCs shareholders following the
posting of UKRD's offer document.
Further announcements will be made as appropriate.
For further information please contact:
Rhys Davies
The Local Radio Company
Tel: 01494 688 200
Roxane Marffy/Brett Miller
Ruegg & Co Limited
Nominated Adviser & Broker
Tel 020 7584 3663
This information is provided by RNS
The company news service from the London Stock Exchange
END
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