Offer Lapsed
August 12 2003 - 3:00AM
UK Regulatory
RNS Number:5554O
Capital Stream Inc
12 August 2003
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA OR
JAPAN
IDS Group plc
12 August 2003
Increased cash offer
by
Capital Stream Minnesota, Inc.
a wholly owned subsidiary of
Capital Stream, Inc.
and (outside the United States)
by
Deloitte & Touche Corporate Finance
on its behalf
for
IDS Group plc
Offer lapsed
On 29 July 2003, the board of Capital Stream, Inc. ("Capital Stream") announced
that the cash offer (the "Offer") being made by Capital Stream Minnesota, Inc.
("Capital Stream Minnesota") and, outside the United States, by Deloitte &
Touche Corporate Finance on its behalf for IDS Group plc ("IDS"), as set out in
the offer document dated 31 May 2003 (the "Offer Document"), was extended until
3.00 p.m. (London time) or 10.00 a.m. (New York time) on 11 August 2003.
Following the announcement made by Twins Acquisition, Inc. ("Twins Acquisition")
on 5 August 2003 with regard to the Twins Acquisition offer being declared
unconditional in all respects, the Offer will not be extended and has lapsed.
Accordingly, the document setting out details of Capital Stream's increased
offer, which was announced on 4 July 2003, will not now be posted to IDS
Shareholders.
Unless the context otherwise requires, defined terms used in this announcement
shall have the meanings given to them in the Offer Document.
Enquiries:
Capital Stream / Capital Stream Minnesota:
Kevin Riegelsberger Tel: 001 206 548 1651
(President and Chief Executive Officer)
Deloitte & Touche Corporate Finance:
Roger Esler (Partner) Tel: 0113 243 9021
Simon Houldsworth (Director)
Deloitte & Touche Corporate Finance is acting for Capital Stream Minnesota and
Capital Stream and no-one else in connection with the Offer and will not be
responsible to anyone other than Capital Stream Minnesota and Capital Stream for
providing the protections afforded to clients of Deloitte & Touche Corporate
Finance or for providing advice in relation to the Offer. Deloitte & Touche
Corporate Finance is a division of Deloitte & Touche which is authorised and
regulated by the Financial Services Authority in respect of regulated
activities. Deloitte & Touche can be contacted at its principal office:
Stonecutter Court, 1 Stonecutter Street, London EC4A 4TR.
The Capital Stream Minnesota Directors and the Capital Stream Directors accept
responsibility for the information contained in this announcement. To the best
of the knowledge and belief of the Capital Stream Minnesota Directors and the
Capital Stream Directors (who have taken all reasonable care to ensure that such
is the case), the information contained in this announcement is in accordance
with the facts and does not omit anything likely to affect the import of such
information.
This information is provided by RNS
The company news service from the London Stock Exchange
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