10th May 2007 17:36
Apollo Management L.P.10 May 2007 Not for release, publication or distribution, in whole or in part, in or into orfrom any jurisdiction (including the United States) where to do so wouldconstitute a violation of the laws of such jurisdiction 10 May 2007 CASTLE HOLDCO 4, LTD. ("Castle BidCo") RECOMMENDED CASH AND SECURITIES OFFER FOR COUNTRYWIDE PLC Castle BidCo announces that elections for the Unlisted Securities Alternativeavailable under the Proposals have exceeded the amount of the Class B Shares andClass B Notes available under the Unlisted Securities Alternative. The Unlisted Securities Alternative is being made available in respect ofelections relating, in aggregate, to a maximum amount of £152.49 million of theCash Consideration. As such, a maximum of 15.249 million Class B Shares and137.241 million Class B Notes will be issued to Scheme Shareholders who havemade valid elections under the Unlisted Securities Alternative. The elections of each shareholder who has validly elected for UnlistedSecurities will therefore be scaled back pro rata and the balance of theconsideration will be satisfied by Cash Consideration in accordance with theterms of the Scheme. By way of example, it is expected that a holder of 100 Countrywide shares, whovalidly elected to receive the Unlisted Securities Alternative in respect of allhis Countrywide shares, will receive the Unlisted Securities Alternative inrespect of approximately 29 of their Countrywide Shares and the CashConsideration of 530 pence per share in respect of approximately 71 of theirCountrywide Shares. The availability of the Unlisted Securities Alternative is subject to thesecurities law restrictions and certain other terms as set out in the SchemeDocument. Unless otherwise defined herein, capitalised terms used in this announcementhave the same meaning as in the Scheme Document and Announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rightmove