14th May 2007 10:40
International Nuclear Solutions PLC14 May 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ORFROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THERELEVANT LAWS OF SUCH JURISDICTION PRESS ANNOUNCEMENT 14 May 2007 INTERNATIONAL NUCLEAR SOLUTIONS PLC - ADJOURNMENT OF COURT MEETING AND EGM At the request of Babcock International Group plc, Chris Brown, Chairman of INS,will seek an adjournment of the Court Meeting and the INS EGM to be held on 14May 2007 in relation to Babcock's offer for INS. Based on the proxy votes received, the Offer would not be approved. This isprincipally due to the stance taken by a small number of shareholders who haverecently acquired material voting interests and the indications by a number ofother large shareholders that they do not intend to participate in the vote. Given the importance of ensuring that the outcome of the Court Meeting and INSEGM fairly reflects the wishes of INS Shareholders, the INS Directors haveagreed to propose motions at the Court Meeting and the INS EGM for theirrespective adjournments. Formal notification of the times and dates for the reconvened meetings will bedespatched to INS Shareholders as soon as possible and in any event no less thanseven days prior to the date appointed for the reconvened meetings. Terms defined in the Scheme Document shall have the same meaning in thisannouncement. Enquiries: Babcock Telephone: +44 (0) 20 7291 5000Gordon Campbell, Peter Rogers, Bill Tame Hawkpoint (financial adviser to Babcock) Telephone: +44 (0) 20 7665 4500Paul Baines JP Morgan Cazenove (broker to Babcock) Telephone: +44 (0) 20 7588 2828Dermot McKechnie Financial Dynamics (Babcock PR enquiries) Telephone: +44 (0) 020 7269 7121Susanne Walker INS Telephone: +44 (0) 161 222 5500Chris Brown, Tony Moore Rothschild (financial adviser to INS) Telephone: +44 (0) 161 827 3800Greg Cant Grant Thornton (Rule 3 adviser to INS) Telephone: +44 (0) 161 834 5414Ali Sharifi College Hill (INS PR enquiries) Telephone: +44 (0) 20 7457 2020Matthew Smallwood The release, publication or distribution of this announcement to persons who arenot resident in the United Kingdom may be affected by the laws of the relevantjurisdictions in which they are located. Persons who are not resident in theUnited Kingdom should inform themselves of, and observe, any applicablerequirements. Any failure to comply with such applicable requirements mayconstitute a violation of the securities laws of any such jurisdictions. Hawkpoint, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for Babcock and no one elsein connection with the Offer and will not be responsible to anyone other thanBabcock for providing the protections afforded to clients of Hawkpoint nor forproviding advice in relation to the Offer, the content of this announcement orany matter referred to herein. JPMorgan Cazenove, which is authorised and regulated in the United Kingdom bythe Financial Services Authority, is acting exclusively for Babcock and no oneelse in connection with the Offer and will not be responsible to anyone otherthan Babcock for providing the protections afforded to clients of JPMorganCazenove nor for providing advice in relation to the Offer, the content of thisannouncement or any matter referred to herein. Rothschild, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for INS and no one else inconnection with the Offer and will not be responsible to anyone other than INSfor providing the protections afforded to clients of Rothschild nor forproviding advice in relation to the Offer, the content of this announcement orany matter referred to herein. Grant Thornton, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for INS and no one else inconnection with the Offer and will not be responsible to anyone other than INSfor providing the protections afforded to clients of Grant Thornton nor forproviding advice in relation to the Offer, the content of this announcement orany matter referred to herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
INS.LBabcock