14th Jul 2006 07:00
Metal Bulletin PLC14 July 2006 METAL BULLETIN plc: RULE 8.4 14 July 2006 On 26 June 2006, the boards of Metal Bulletin plc ("Metal Bulletin") andWilmington Group Plc ("Wilmington") announced the terms of a recommended mergerof Metal Bulletin and Wilmington to establish Bulletin Group (the "Merger"). The Merger is to be effected by way of a scheme of arrangement and reduction ofcapital of Wilmington under which Wilmington shareholders will receive 0.6606 ofa new Metal Bulletin Share for each Wilmington share held. Metal Bulletin willbe renamed Bulletin Group on completion of the Merger. Metal Bulletin is pleased to announce that it has now received furtherirrevocable undertakings to vote in favour of the Merger from Metal Bulletinshareholders in respect of a further 2,441,210 Metal Bulletin ordinary shares.These irrevocable undertakings will lapse if a third party makes a general offerto acquire the whole of the issued share capital of Metal Bulletin on termswhich represent (in the reasonable opinion of Arden Partners Limited andTrillium Partners Limited) an improvement of not less than 10 per cent. on thevalue of the consideration offered pursuant to the Merger as at the date onwhich such offer for Metal Bulletin is made. Accordingly, irrevocable undertakings to vote in favour of the Merger have beenreceived, in aggregate, in respect of 13,072,454 ordinary shares representingapproximately 23.7 per cent. of Metal Bulletin's existing ordinary sharecapital. Enquiries Charles PalmerFinancial Dynamics Tel: 020 7831 3113 END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wilmington