8th May 2007 17:03
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION (INCLUDING THE UNITED STATES) WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE 8 May 2007 RECOMMENDED CASH AND SECURITIES OFFER FOR COUNTRYWIDE PLC
The Boards of Countrywide and Castle Bidco are pleased to announce that the High Court of Justice has earlier today confirmed the Reduction of Capital required to effect the recommended acquisition of the Company by Castle Bidco.
The Scheme will become effective upon the Court Orders in respect of the Scheme being delivered to the Registrar of Companies (and, in relation to the Reduction Court Order, the registration of such Order by him) which is expected to take place on 9 May 2007. The Financial Services Authority and the London Stock Exchange have been requested respectively to cancel the listing of the Company's Shares on the Official List and to cancel trading on the London Stock Exchange's market for listed securities with effect from 8.00 a.m. tomorrow, 9 May 2007.
Cheques for Cash Consideration, Rightmove Share certificates in respect of Rightmove Share Consideration, cash in respect of the Rightmove Sale Election and/or Class B Shares and Class B Notes in respect of the Unlisted Securities Alternative are therefore expected to be despatched and settlement in CREST is expected to be effective by not later than 6.00 p.m. (London time) on 23 May 2007.
Unless otherwise defined herein, capitalised terms used in this announcement have the same meaning as in the Scheme Documents and Announcement.
Hawkpoint, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Countrywide and its Directors and no one else in connection with the Proposals and will not be responsible to anyone other than Countrywide and its Directors for providing the protections afforded to clients of Hawkpoint nor for providing advice in relation to the Proposals, the content of this announcement or any matter referred to herein.
COUNTRYWIDE PLCRelated Shares:
CWD.L