6th Jan 2006 17:37
Persimmon PLC06 January 2006 Not for release, publication or distribution, in whole or part, in, into or from the United States, Canada, Australia or Japan. FOR IMMEDIATE RELEASE 6 January 2006 RECOMMENDED CASH OFFER by CITIGROUP GLOBAL MARKETS LIMITED on behalf of PERSIMMON PLC ("PERSIMMON") for WESTBURY PLC ("WESTBURY") Level of Acceptances and Extension of Offer 1. Level of acceptances Persimmon announces that as at 3.00 p.m. (London time) on 6 January 2006, beingthe first closing date of the Offer, valid acceptances of the Offer had beenreceived in respect of a total of 57,227,472 Westbury Shares, representingapproximately 49.8 per cent. of Westbury's issued share capital. None of theseacceptances were received from persons acting in concert with Persimmon. Each ofthese acceptances may be counted by Persimmon towards the satisfaction of theacceptance condition of the Offer. On 24 November 2005, being the date of the announcement of the Offer, Persimmonannounced that it had received irrevocable undertakings to accept (or procurethe acceptance of) the Offer in respect of a total of 310,951 Westbury Shares,representing approximately 0.3 per cent. of Westbury's issued share capital.Valid acceptances have been received in respect of 295,156 of those WestburyShares, representing approximately 0.3 per cent. of Westbury's issued sharecapital. All of these acceptances are included in the total of valid acceptancesreferred to above. As announced on 24 November 2005, Persimmon acquired 30,000,000 Westbury Sharesthereby increasing its total holding of Westbury Shares to 30,000,001representing approximately 26.1 per cent. of Westbury's issued share capital. Accordingly, as at 3.00 p.m. (London time) on 6 January 2006, Persimmon eitherowned or has received valid acceptances in respect of a total of 87,227,473Westbury Shares representing approximately 75.9 per cent. of Westbury's issuedshare capital. 2. Extension of the Offer The Offer, which remains subject to the terms and conditions set out in theoffer document posted to Westbury Shareholders on 16 December 2005 (the "OfferDocument"), is being extended and will remain open for acceptance until the nextclosing date which will be 3.00 p.m. (London time) on 16 January 2006. Anyfurther extensions of the Offer will be publicly announced by 8.00 a.m. on theBusiness Day following the day on which the Offer was otherwise due to expire,or at such later time or date as the Panel may agree. Westbury Shareholders who have not yet accepted the Offer and who hold WestburyShares in certificated form are urged to complete, sign and return the Form ofAcceptance as soon as possible and, in any event, so as to be received byComputershare Investor Services PLC by no later than 3.00 p.m. (London time) on16 January 2006. Westbury Shareholders who have not yet accepted the Offer and who hold WestburyShares in uncertificated form are urged to make acceptance electronicallythrough CREST so that the TTE Instruction settles by no later than 3.00 p.m.(London time) on 16 January 2006. If you hold Westbury Shares as a CRESTsponsored member, you should refer to your CREST sponsor as only your CRESTsponsor will be able to send the necessary TTE Instruction to CRESTCo. Terms defined in the Offer Document shall have the same meanings in thisannouncement. The term "acting in concert" shall have the same meaning as inthe City Code. Persimmon PLC Tel: 01904 642 199 Mike Killoran, Group Finance DirectorNeil Francis, Group Company Secretary Citigroup Global Markets Limited Tel: 020 7986 4000 Philip Robert-TissotDimitrios GeorgiouNigel Mills (Corporate Broking)Andrew Forrester (Corporate Broking) Finsbury Group Tel: 020 7251 3801 Faeth Birch Citigroup Global Markets Limited, which is authorised and regulated in theUnited Kingdom by the Financial Services Authority, is acting exclusively forPersimmon and no one else in connection with the Offer and will not beresponsible to any other person for providing the protections afforded toclients of Citigroup Global Markets Limited or for providing advice in relationto the Offer. This announcement does not constitute, or form part of, any offer for, or anysolicitation of any offer for, securities. Any acceptance or other response tothe Offer should be made only on the basis of information referred to in theOffer Document. The Offer is not being and will not be made, directly or indirectly, in or into,or by use of the mails of, or by any means or instrumentality (including,without limitation, facsimile or electronic transmission, telex, internet ortelephone) of interstate or foreign commerce of, or any facility of a national,state or other securities exchange of, the United States, Canada, Australia orJapan and the Offer will not be capable of acceptance by any such use, means,instrumentality or facility from or within the United States, Canada, Australiaor Japan. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Persimmon