16th Sep 2005 07:00
IG Co Limited16 September 2005 IG Co Limited 16 September 2005 This announcement is not for release, publication or distribution in or into theUnited States, Canada, Australia or Japan. RECOMMENDED CASH OFFER FOR MUSIC CHOICE EUROPE PLC ("MCE") BY SMITH & WILLIAMSONCORPORATE FINANCE LIMITED ("SMITH & WILLIAMSON") ON BEHALF OF IG CO LIMITED("IGC") OFFER UPDATE On 19 August 2005, IGC announced the terms of a recommended cash offer toacquire the entire issued and to be issued share capital of MCE to be made bySmith & Williamson on behalf of IGC. The Offer was made by Smith & Williamson bymeans of the Offer Document posted to MCE shareholders on 1 September 2005. On 9 September 2005, IGC announced that the Offer was declared unconditional inall respects and would remain open for acceptance until further notice. IGC today announces that by 3.00 pm on 15 September 2005, valid acceptances hadbeen received in respect of a total of 27,496,849 MCE Shares, representing 82.86per cent. of the Company's issued ordinary share capital. As a result of IGC having obtained acceptances relating to MCE Shares carryingmore than 75% of the voting rights of MCE, applications will be made to the UKLAfor cancellation of the listing of MCE Shares on the Official List and to theLondon Stock Exchange for the cancellation of trading of MCE Shares on itsmarket for listed securities. The notice period of not less than twenty businessdays prior to cancellation commences on the date of this announcement. It isexpected that such cancellations will take effect from 17 October 2005. The Offer will remain open for acceptance until further notice. MCE Shareholderswho have not yet accepted the Offer and who wish to do so should complete andreturn their forms of acceptance as soon as possible. Definitions used in the Offer Document dated 1 September 2005 apply also to thisannouncement unless the context requires otherwise. Enquiries Smith & Williamson, Adviser to IGCNicola Horton 020 7131 4000David Jones 020 7131 4000 Smith & Williamson, which is authorised and regulated in the United Kingdom bythe Financial Services Authority, is acting exclusively for IGC and no one elsein connection with the Offer and the matters described herein and will not beresponsible to anyone other than IGC for providing the protections afforded toits customers or for giving 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:
MUS.L