20th Nov 2007 17:38
Inland PLC20 November 2007 Inland PLC Offer update Offer for Poole Investments PLC Ordinary Shares to close and compulsory acquisition For immediate release 20 November 2007 As at 1pm on 19 November 2007, Inland PLC had received valid acceptances of itsOffer for the ordinary shares ("PI Shares") of Poole Investments PLC ("PooleInvestments" or "PI") in respect of 93,353,483 PI Shares (representing 50.5% ofthe PI Shares in issue). Inland has purchased 60,255,855 PI Shares (representing35.6% of the PI Shares in issue), while the Offer has been open for acceptance.These acceptances and share purchases amount to more than 90% of the PI Sharesto which the Offer relates. It was stated in the document containing the offer by Inland PLC for the wholeof the issued share capital of Poole Investments (other than the 15,821,500 PIShares already held by Inland) dated 9 August 2007 (the "Offer Document"), thatInland intended, in due course, to exercise its rights under sections 979 to982 of Part 28 of the Companies Act 2006 (the "2006 Act"), shouldthose provisions be applicable, to acquire compulsorily all of the remaining PIshares. Accordingly, Inland intends to post formal notices pursuant to section979 of the 2006 Act to those PI shareholders who have not yet validly acceptedthe Offer tomorrow. The compulsory acquisition will be effective on or about 2January 2008 in respect of all PI Shares not held by Inland as at that date. In aggregate, as at 1pm on 19 November 2007, Inland held 169,431,838 PI Sharesrepresenting 91.6% of the total PI Shares in issue. The Offer remains open for acceptance until 1pm on 2 January 2008, when it willclose. For PI Shares held in certificated form, Forms of Acceptance not yet returnedshould be completed and returned in accordance with the instructions set out inthe Offer Document and on the Form of Acceptance so as to be received as soon aspossible. For PI Shares held in uncertificated form, Electronic Acceptances should be madein accordance with the instructions set out the Offer Document so thatsettlement occurs as soon as possible. The Offer Document may be found at http://www.inlandplc.com/investors/reportsandaccounts.aspx Any PI Shareholder who is in any doubt as to the procedure for acceptance,should contact Capita Registrars on 0870 162 3121 or, if calling from outsidethe UK, +44 20 8639 3399 (during normal business hours only). Calls to theshareholder helpline may be monitored or recorded. Enquiries:Inland PLCNishith Malde FCA 01923 713600 Dawnay, Day Corporate Finance LimitedDavid Floyd Tel: 020 7509 4570 Buchanan CommunicationsJeremy Garcia Tel: 020 7466 5000 The Directors of Inland accept responsibility for the information contained inthis announcement. To the best of the knowledge and belief of the Directors ofInland (who have taken all reasonable care to ensure that such is the case), theinformation contained in this announcement for which they accept responsibilityis in accordance with the facts and does not omit anything likely to affect theimport of such information. Unless the context requires otherwise, words and expressions in thisannouncement have the same meanings as in the Offer Document. Dawnay, Day Corporate Finance Limited, which is authorised and regulated in theUnited Kingdom by the Financial Services Authority, has authorised thisannouncement for the purposes of section 21 of the Financial Services andMarkets Act 2000. The principal place of business of Dawnay, Day CorporateFinance Limited is 17 Grosvenor Gardens, London SW1W 0BD. Dawnay, Day CorporateFinance Limited is acting exclusively for Inland and no one else in connectionwith the Offer and will not be responsible to anyone other than Inland forproviding the protections afforded to customers of Dawnay, Day Corporate FinanceLimited or for providing advice in relation to the Offer or any other matterreferred to herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
INL.L