13th Apr 2007 17:03
Rightmove Plc13 April 2007 Statement re Apollo offer for Countrywide Rightmove plc ("Rightmove") notes that the offer for Countrywide plc("Countrywide") from Apollo Management has today been approved by Countrywideshareholders. Under the terms of that offer Countrywide shareholders willreceive a mixture of cash and Rightmove shares. Rightmove believes that thisdistribution of Countrywide's holding in Rightmove (28.5 million shares or 21.5%of Rightmove's share capital) will substantially increase the level of liquidityin Rightmove shares and broaden the shareholder base to the benefit of existingand future shareholders. Further, Countrywide has established a process by whichits shareholders may sell Rightmove shares in an orderly market to satisfycurrent demand for Rightmove shares. Rightmove confirms that all aspects of the commercial agreements betweenRightmove and Countrywide remain in place uincluding the agreement to list allCountrywide estate agency properties on Rightmove.co.uk until at least March2009. END For further information: Rightmove: Ed Williams, Group Managing Director +44 (0)20 7318 9095Maitland: Brian Hudspith +44 (0)20 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RightmoveCWD.L