18th Apr 2005 07:09
William Hill PLC18 April 2005 FOR IMMEDIATE RELEASE 18 APRIL 2005 William Hill PLC ("William Hill" or the "Company") Potential Acquisition of Stanley Leisure plc's Retail Bookmaking Operations in the UK and Ireland William Hill announced today that it is in exclusive discussions with StanleyLeisure plc ("Stanley Leisure") and is undertaking due diligence in relation toa possible acquisition of Stanley Leisure's retail bookmaking activities in theUK and Ireland (the "Potential Acquisition"). In the absence of significant acquisition opportunities, a proposed return ofcapital of £453 million was announced with William Hill's preliminary results on2 March 2005, subject to shareholder approval at the AGM on 19 May 2005. Since the announcement of the proposed return of capital, the opportunity toacquire Stanley Leisure's retail bookmaking activities in the UK and Ireland hasarisen. Although there can be no certainty at this stage that a transactionwill be agreed, the board of William Hill believes that the PotentialAcquisition represents a particularly attractive opportunity for William Hilland should be evaluated before proceeding with the return of capital exercise. If a transaction on acceptable terms cannot be reached with Stanley Leisure, itis William Hill's intention to proceed with the previously announced return ofcapital. In light of these recent developments, William Hill is postponing the postingof its listing particulars and circular prepared in connection with the returnof capital exercise pending the conclusion of its review of the PotentialAcquisition that is likely to extend until early May. A further announcement will be made in due course. Enquiries:William Hill PLC (020) 8918 3910David HardingTom Singer Citigroup (Financial Adviser to William Hill) (020) 7986 4000David WormsleyJan Skarbek Citigroup (Corporate Broker to William Hill) (020) 7986 4000David JamesAndrew Seaton Brunswick Group Limited (020) 7404 5959James BradleyWilliam Cullum Citigroup Global Markets Limited ("Citigroup") is acting for William Hill and no-one else in connection with the matters referred to in this announcement andwill not be responsible to anyone other than William Hill for providing theprotections afforded to clients of Citigroup or for providing advice in relationto these matters. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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