Scheme of arrangement
November 17 2009 - 8:45AM
UK Regulatory
TIDMWTC
RNS Number : 6479C
Westcity PLC
17 November 2009
Not for release, distribution or publication, in or into any jurisdiction where
it is unlawful to do so.
Westcity PLC
("Westcity")
Scheme of Arrangement now effective
Westcity is pleased to announce that the Scheme has become effective. Admission
to trading of the Westcity Shares on AIM is expected to be cancelled at 8:00am
tomorrow morning.
Under the Scheme, Scheme Shareholders will receive:
for each Scheme Share 13 pence in cash
Those Scheme Shareholders who have elected to receive Berkshire Shares instead
of the Cash Consideration will receive:
for each Scheme Share one Berkshire Share
CREST accounts will be credited, or cheques will be posted, in respect of the
cash consideration to which Scheme Shareholders are entitled under the Scheme
within 14 days.
Unless the context otherwise requires, terms defined in the Scheme Document
dated
21 September 2009 have the same meaning in this announcement.
Enquiries:
For further information please contact:
Westcity PLC + 44 (0) 20 7424 6700
Ira Rapp, Chief Executive Officer
Michael Tannenbaum, Finance Director
KBC Peel Hunt Ltd (Financial adviser)+44 (0) 20 7418 8900
Alex Vaughan
Richard Kauffer
KBC Peel Hunt, which is authorised and regulated in the United Kingdom for the
conduct of investment business by the Financial Services Authority, is acting
exclusively for Westcity and no one else in connection with the matters
described in this announcement and will not be responsible to anyone other than
Westcity for providing the protections afforded to clients of KBC Peel Hunt nor
for providing advice in relation to the matters described in this announcement.
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 solicitation of any vote or approval in any jurisdiction pursuant to the
Acquisition Proposal or otherwise. The Acquisition Proposal was made through the
Scheme Document, which contains the full terms and conditions of the Acquisition
Proposal (including details of how Shareholders were required to vote in respect
of the Acquisition Proposal). Any acceptance of or other response to the
Acquisition Proposal should be made only on the basis of the information
contained in the Scheme Document. Shareholders are advised to read the Scheme
Document carefully.
Notice to Overseas Persons
The availability of the Acquisition Proposal to Shareholders who are not
resident in the United Kingdom may be affected by the laws of relevant
jurisdictions. Shareholders who are not resident in the United Kingdom will need
to inform themselves about and observe any applicable requirements.
The Acquisition Proposal will be subject to the applicable rules and regulations
of the London Stock Exchange and the City Code.
This communication shall not constitute an offer to sell or the solicitation of
an offer to buy securities, or the solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction.
In accordance with Rule 19.11 of the City Code, a copy of this announcement will
be published on http://www.westcityplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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