9th Jul 2007 10:57
WPP Group PLC09 July 2007 FOR IMMEDIATE RELEASE 9 July 2007 WPP Extends Subsequent Offering Period for 24/7 Real Media Tender Offer By Two Days New York, NY, and London, England, July 9, 2007 - WPP Group plc (NASDAQGS:WPPGY)(LSE:WPP.L) ("WPP") today announced that it will extend the subsequent offeringperiod for its tender offer to purchase all of the outstanding shares of commonstock of 24/7 Real Media, Inc. (NASDAQ:TFSM) ("24/7 Real Media"), at a price of$11.75 per share in cash. The subsequent offering period is now scheduled toexpire at 5:00 p.m., New York City time, on Tuesday, July 10, 2007. Citibank N.A., the depositary for the offer, has advised WPP that, as of 5:00p.m. New York City time on Friday, July 6, 2007, an aggregate of 49,568,170shares of 24/7 Real Media common stock had been tendered into the offer,including 2,447,751 shares which remain subject to guaranteed deliveryprocedures, representing approximately 96.3% (including approximately 4.8%tendered under guaranteed delivery procedures) of the outstanding 24/7 RealMedia common stock. The purpose of the subsequent offering period is to enable stockholders of 24/7Real Media common stock who have not yet tendered their common stock toparticipate in the offer and receive $11.75 per share in cash, without interest.WPP will promptly pay for any common stock validly tendered in the subsequentoffering period. Common stock that is properly tendered may not be withdrawnduring the subsequent offering period. Stockholders and eligible guarantorinstitutions which have not yet fulfilled their commitment to deliver sharesshould promptly comply with their guaranteed delivery obligations. WPP also announced today that it has received approval of the merger from theKorea Fair Trade Commission. WPP intends to close the merger as promptly aspracticable following the expiration of the subsequent offering period. About WPP WPP is one of the world's leading communications services groups. Through itsoperating companies it provides a comprehensive range of communicationsservices. These services include: advertising; media investment management;information, insight and consultancy; public relations and public affairs;branding and identity, healthcare and specialist communications. The Companyemploys approximately 100,000 people (including associates) in 2,000 offices in106 countries, providing communications services to more than 300 of thecompanies that comprise the Fortune 500, over one half of the companies thatcomprise the NASDAQ 100 and more than 30 of the companies that comprise theFortune e-50. Important Information This press release is for informational purposes only and is not an offer to buyor the solicitation of an offer to sell any of 24/7 Real Media's common shares. This tender offer is being made pursuant to a Tender Offer Statement on ScheduleTO (including the Offer to Purchase, the related Letter of Transmittal and othertender offer materials) filed by WPP and TS Transaction, Inc., an indirect wholly owned subsidiary of WPP, with the SEC on May 31, 2007, as amended. These documents contain important information about the tender offer and stockholders of 24/7 Real Media are urged to read them carefully before making any decision regarding tendering their shares. The Offer to Purchase, the related Letter of Transmittal and certain other offerdocuments as well as the Solicitation/Recommendation Statement, are availablefree of charge on the SEC's website (www.sec.gov) or from D.F. King & Co., Inc.,the information agent for the tender offer at (888) 605-1958 (toll free).Citibank N.A. is acting as depositary for the tender offer. Forward-looking Statement This release includes statements that are, or may be deemed to be,"forward-looking" statements. These forward-looking statements can be identifiedby the use of forward-looking terminology, including inter alia the terms"believes", "plans", "expects", "may", "will" or "should" or, in each case,their negative or other variations or comparable terminology. These forward-looking statements include matters that are not historical factsand include statements regarding WPP's intentions, beliefs or currentexpectations concerning, among other things, WPP's results of operations,financial condition, liquidity, prospects, growth, strategies, the outlook forrelevant markets and the proposed acquisition of 24/7 Real Media. By theirnature, forward-looking statements involve risk and uncertainty because theyrelate to future events and circumstances. A number of factors could causeactual results and developments to differ materially from those expressed orimplied by the forward-looking statements. Forward-looking statements may andoften do differ materially from actual results. Any forward-looking statementsin this release reflect WPP's view with respect to future events as of the dateof this release and are subject to risks relating to future events and otherrisks, uncertainties and assumptions relating to WPP's operations, results ofoperations, growth strategy and liquidity. Except as required by relevant law or regulation, WPP undertakes no obligationpublicly to release the results of any revisions to any forward-lookingstatements in this release that may occur due to any change in its expectationsor to reflect events or circumstances after the date of this release.Information in this release should not be relied upon as a guide to futureperformance. Contact:Feona McEwan, WPP T +44 (0)20 7408 2204Fran Butera, WPPwww.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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