9th Sep 2005 07:00
IG Co Limited09 September 2005 IG Co Limited 9 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 DECLARED WHOLLY UNCONDITIONAL 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. IGC announces that by 3.00 pm on 8 September 2005, being 14 days prior to thefirst closing date of the Offer, valid acceptances had been received in respectof a total of 24,347,802 MCE Shares, representing 73.37 per cent. of theCompany's issued ordinary share capital. All of the conditions of the Offer as set out in the Offer Document have nowbeen satisfied or waived and, accordingly, the Offer is declared unconditionalin all respects. The Offer will remain open for acceptance until further notice.MCE Shareholders who have not yet accepted the Offer and who wish to do soshould complete and return their forms of acceptance as soon as possible. Settlement of the consideration to which any MCE Shareholder is entitled will beeffected: (i) in the case of acceptances received (complete in all respects) by3.00 pm on 8 September 2005, within 14 days of this date; or (ii) in the case ofacceptances received (complete in all respects) after 3.00 pm on 8 September2005 but while the Offer remains open for acceptance, within 14 days of suchreceipt. Prior to making the Offer, IGC had received irrevocable undertakings to acceptthe Offer from holders of 24,299,514 MCE Shares in aggregate (representingapproximately 73.23 per cent. of the Company's issued ordinary share capital):valid acceptances have been received in respect of all such shares and theseacceptances have been included in the total level of acceptances referred toabove. Prior to the Offer, 2,385 MCE Shares (representing approximately 0.01 per cent.of the Company's issued ordinary share capital) were held by Smith & WilliamsonInvestment Management Limited on behalf of discretionary fund managementclients: valid acceptances have not been received in respect of these shares.Prior to the Offer, 26,304 MCE Shares (representing 0.08 per cent. of theCompany's issued ordinary share capital) were held by Margot Daly: validacceptances have not been received in respect of these shares. Prior to theOffer, 2,700 MCE shares (representing approximately 0.01 per cent. of theCompany's issued ordinary share capital) were held by La Ville Trustees Limited:valid acceptances have not been received in respect of these shares. Save as set out herein, neither IGC nor any person acting in concert with IGCheld any MCE Shares (or rights over MCE Shares) prior to the announcement of theoffer on 19 August 2005 and neither IGC nor any person acting in concert withIGC has acquired or agreed to acquire MCE Shares since that date. 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