1st Feb 2007 09:34
Redstone PLC01 February 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN REDSTONE PLC ("Redstone" or the "Company") RECOMMENDED OFFER FOR IDN TELECOM PLC ("IDN") Compulsory Acquisition Evolution Securities Limited ('Evolution') announces that as at 1.00 p.m. on 31January 2007 valid acceptances of the Offer had been received in respect of atotal of 401,502,910 IDN Shares representing, in aggregate, approximately 91.00per cent. of IDN's total issued share capital. As valid receives acceptances have been received by Redstone under the Offer inrespect of more than 90 per cent. of the IDN Shares to which the Offer relates,Redstone confirms that it intends to exercise its rights pursuant to theprovisions of sections 428 to 430F of the Act to acquire compulsorily IDN Sharesin respect of which acceptances have not been received. Accordingly, Redstone is today posting statutory notices under section 429(4) ofthe Act to IDN Shareholders who have not yet validly accepted the Offer,informing such IDN Shareholders that it will compulsorily acquire their IDNShares under the provisions of sections 428 to 430F of the Act. The compulsoryacquisition procedure is expected to be completed on, or shortly after, 14 March2007. Unless the context otherwise requires, defined terms used in this announcementshall have the meanings given to them in the Offer Document. ENQUIRIES Redstone plc Tel. +44 (0)845 200 2200 Martin Balaam, Chief ExecutiveTim Perks, Chief Financial Officer ICIS Limited Tel. +44 (0)20 7651 8688 Tom Moriarty or +44 (0)7769 937 626 The Redstone Directors accept responsibility for all the other informationcontained in this announcement. To the best of the knowledge and belief of theRedstone Directors and the IDN Directors (who have taken all reasonable care toensure that such is the case) the information contained in this announcement forwhich they are respectively responsible is in accordance with the facts and doesnot omit anything likely to affect the import of such information. Evolution Securities Limited, which is regulated in the UK by the FinancialServices Authority, is acting exclusively for Redstone in connection with theOffer and no one else and will not be responsible to anyone other than Redstonefor providing the protections afforded to clients of Evolution SecuritiesLimited nor for providing advice in relation to the Offer. This announcement does not constitute an offer to sell, or an invitation topurchase, subscribe for or exchange any securities or a solicitation of an offerto subscribe for or buy any security, nor is it a solicitation of any vote orapproval in any jurisdiction, nor shall there be any sale, issuance or transferof the securities referred to in this announcement in any jurisdiction incontravention of applicable law. The Offer is made solely by means of the OfferDocument, the advertisement published in the London edition of the FinancialTimes on 4 December 2006 and the Form of Acceptance (in respect of certificatedIDN Shares), which contain the full terms and conditions of the Offer, includingdetails of how the Offer may be accepted and any such purchase, subscription orexchange should be made solely on the basis of information contained in suchdocuments. The Offer will not be made, directly or indirectly, in or into, or by the use ofmails or any means or instrumentality (including, without limitation,telephonically or electronically) of interstate or foreign commerce of, or anyfacility of a national securities exchange of, the United States, Canada,Ireland, Australia or Japan and the Offer will not be capable of acceptance byany such use, means, instrumentality or facilities from or within the UnitedStates, Canada, Ireland, Australia or Japan. Accordingly, copies of this announcement and any related documents are notbeing, and must not be, directly or indirectly, mailed or otherwise forwarded,distributed or sent in or into or from the United States, Canada, Ireland,Australia or Japan and persons receiving this announcement and any relateddocument (including custodians, nominees and trustees) must not mail orotherwise forward, distribute or send it in, into or from the United States,Canada, Ireland, Australia or Japan or such other jurisdiction where to do sowould constitute a violation of the relevant laws of such jurisdiction. Doing somay render invalid any purposed acceptance of the Offer. The availability of the Offer to persons who are not resident in the UnitedKingdom may be affected by the laws of the relevant jurisdictions. Persons whoare not resident in the United Kingdom should inform themselves about andobserve any applicable requirements. 1 February 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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