UMB Umbro

RNS Number:8388O
Umbro PLC
27 February 2008


Not for release, publication or distribution, in whole or in part, in, into or
from any jurisdiction where to do so would constitute a violation of the
relevant laws of such jurisdiction



27 February 2008

                              Umbro plc ("Umbro")


 Recommended cash acquisition of Umbro plc by NIKE Vapor Ltd. ("Nike Vapor", a
                     wholly-owned subsidiary of NIKE, Inc.)

                 Court order sanctioning scheme of arrangement

                        Suspension of trading of Shares



The board of Umbro is pleased to announce that the High Court of Justice has
today made an order sanctioning the scheme of arrangement under section 425 of
the Companies Act 1985 (and section 899 of the Companies Act 2006) to effect the
recommended cash acquisition by Nike Vapor of the entire issued and to be issued
share capital of Umbro (the "Scheme") on the terms set out in a circular Umbro
sent to its shareholders on 23 November 2007 (the "Scheme Document"). A copy of
the Court order will be delivered to the Registrar of Companies by tomorrow.

As set out in the Scheme Document, the last day for dealings in and
registrations of transfers of Shares is 28 February 2008. Umbro will apply to
the United Kingdom Listing Authority for the suspension of the listing of its
Shares on the Official List and to the London Stock Exchange for the suspension
of the trading of its Shares on the London Stock Exchange's main market for
listed securities, in each case with effect from at or about 7.30 a.m. on 29
February 2008.


In order for the Scheme to become effective in accordance with its terms, the
Court must now confirm the Reduction of Capital at the Reduction Court Hearing,
which is expected to take place on 29 February 2008, and the order confirming
the Reduction of Capital must be registered by the Registrar of Companies, which
is expected to occur on 3 March 2008.

Accordingly, the Effective Date of the Scheme is expected to be 3 March 2008 and
it is expected that the listing of the Shares on the Official List will be
cancelled and that the Shares will cease to be admitted to trading on the London
Stock Exchange's main market for listed securities, in each case with effect
from 8.00 a.m. on 4 March 2008.

Capitalised terms used (but not defined) in this announcement have the same
meanings as in the Scheme Document unless the context requires otherwise.

All times referred to in this announcement are references to London time.



Enquiries:

NIKE, INC.

Nigel Powell, Vice President of Global         Telephone: +1 503 671 6758
Communications
                                               
Charlie Brooks, UK Head of Corporate           Telephone: +44 20 7432 6390
Communications                                 or +44 77 1472 4995
                                              
Massimo Giunco, EMEA Head of Corporate         Telephone: +31 35 626 6980 or 
Communications                                 +31 64 6372 512

Alan Marks, Global Director of Media Relations Telephone: +1 503 671 2673
Pamela Catlett, Vice President, Investor       Telephone: +1 503 671 4589
Relations

MERRILL LYNCH

(Financial Adviser and Corporate Broker to
Nike and Nike Vapor)

UK                                             Telephone: +44 20 7628 1000
Kevin J. Smith

Andrew Osborne (Corporate Broking)
US                                             Telephone: +1 212 449 1000
Lisa Clyde
Alan Goodstadt

Citigate Dewe Rogerson                         Telephone: +44 20 7638 9571
(PR Adviser to Nike)
Patrick Donovan
Simon Rigby

UMBRO PLC                                      Telephone: +44 161 492 2000
Steve Makin, CEO

JPMorgan Cazenove                              Telephone: +44 20 7588 2828
(Financial Adviser to Umbro)
Luke Bordewich

Brunswick                                      Telephone: +44 20 7404 5959
(PR Adviser to Umbro)
Simon Sporborg
Dominic McMullan


This announcement is not intended to and does not constitute or form any part of
an offer or invitation to sell or subscribe for or purchase any securities or
the solicitation of any vote or approval in any jurisdiction pursuant to the
Transaction or otherwise. The Transaction will be effected solely through the
Scheme Document, which contains the full terms and conditions of the
Transaction.

Merrill Lynch is acting exclusively for Nike and Nike Vapor and no-one else in
connection with the Transaction and will not be responsible to anyone other than
Nike and Nike Vapor for providing the protections afforded to clients of Merrill
Lynch or for providing advice in relation to the Transaction or any other
matters referred to in this announcement.

JPMorgan Cazenove is acting exclusively for Umbro and no-one else in connection
with the Transaction and will not be responsible to anyone other than Umbro for
providing the protections afforded to clients of JPMorgan Cazenove or for
providing advice in relation to the Transaction or any other matters referred to
in this announcement.

The distribution of this announcement in jurisdictions other than the UK may be
restricted by law and therefore any persons who are subject to the laws of any
jurisdiction other than the UK should inform themselves about, and observe, any
applicable requirements. This announcement has been prepared for the purpose of
complying with English law and the Code and the information disclosed may not be
the same as that which would have been disclosed if this announcement had been
prepared in accordance with the laws of jurisdictions outside the UK.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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