14th Apr 2005 12:15
RAC PLC14 April 2005 At the Annual General Meeting of RAC plc, which was held at 12:00 noon today, the Chairman, Peter Smith, made the following statement: "RAC plc has performed well in the first quarter, trading in line with our expectations. We remain confident in its future prospects. On 9th March 2005, the Boards of RAC plc and Aviva plc announced that they had jointly reached agreement on the terms of a recommended cash and share offer being made on behalf of Aviva plc for the whole of RAC plc's issued ordinary share capital. The Aviva offer represents a significant premium over the prevailing share price of RAC plc immediately prior to the announcement of the proposed transaction, and reflects the potential of the combined companies. It not only represents substantial value in terms of the cash element to RAC shareholders but also, through receiving Aviva shares, it allows all shareholders to benefit from the future growth of the combined companies. It is against this background that the RAC plc Board unanimously recommended acceptance of the Aviva Offer to its shareholders." Thursday, 14 April 2005 website www.racplc.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Aviva