Offer Update
April 22 2009 - 6:14AM
UK Regulatory
TIDMTLR
RNS Number : 9771Q
UKRD Group Limited
22 April 2009
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR
FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION WHERE IT
IS UNLAWFUL TO DO SO
UKRD Group Limited ("UKRD" or the "Company")
Offer update
Further to the announcement released today, UKRD has received confirmation from
Invesco Asset Management Ltd that it has accepted the Offer in respect of
1,089,416 Local Radio Shares and not accepted the Offer in respect of 2,825,000
Local Radio Shares.
Valid acceptances of the Offer are unchanged at 16,761,083 Local Radio Shares,
representing 23.27 per cent. of the issued share capital of Local Radio and, as
stated in the announcement released earlier today, UKRD now holds valid
acceptances in respect of and has an interest in 26,486,083 Local Radio Shares
in aggregate, representing approximately 36.78 per cent. of the existing issued
share capital of Local Radio.
22 April 2009
For further information, please contact:
+-------------------------------------------------------+---------------+
| Charles Stanley Securities (Financial Adviser to | 020 7149 6000 |
| UKRD) | |
+-------------------------------------------------------+---------------+
| Rick Thompson | |
+-------------------------------------------------------+---------------+
| Philip Davies | |
+-------------------------------------------------------+---------------+
| Carl Holmes | |
+-------------------------------------------------------+---------------+
Charles Stanley Securities, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for UKRD and
no one else in connection with the Offer and will not be responsible to anyone
other than UKRD for providing the protections afforded to its clients or for
providing advice in relation to the Offer, the contents of the Offer Document or
this announcement or any transaction or arrangement or other matter referred to
herein.
This announcement is not intended to, and does not, constitute or form any part
of an offer to sell or an invitation to purchase or subscribe for any securities
or the solicitation of an offer to purchase or subscribe for any securities
pursuant to the Offer or otherwise. The Offer has been made solely through the
Offer Document and (in respect of Local Radio Shares held in certificated form)
the Form of Acceptance, which together contain the full terms and conditions of
the Offer, including details of how to accept the Offer. Any acceptance or other
response to the Offer should be made only on the basis of the information
contained in the Offer Document and (in respect of Local Radio Shares held in
certificated form) the Form of Acceptance. The Offer will be subject to the
applicable requirements of the City Code, the Panel, the London Stock Exchange
and the Financial Services Authority.
The release, publication or distribution of this announcement in jurisdictions
other than the UK may be restricted by law and therefore any persons who are nor
resident in the UK or who are subject to the laws of any jurisdiction other than
the UK should inform themselves about, and observe, any applicable requirements.
Any failure to comply with the applicable requirements may constitute a
violation of the securities laws of any such jurisdiction. This announcement has
been prepared for the purpose of complying with English law and the City Code
and the information disclosed herein may not be the same as that which would
have been disclosed if this announcement had been prepared in accordance with
the laws of jurisdictions outside the UK.
The Offer is not being made, directly or indirectly, or by the use of the mails
of, or by any means or instrumentality (including, without limitation, facsimile
or other electronic transmission, telex or telephone) of inter-state or foreign
commerce or any facility of, a national securities exchange of any jurisdiction
if to do so would constitute a violation of the relevant laws of such
jurisdiction ("Restricted Jurisdiction") (including the United States, Canada,
Australia or Japan), and the Offer is not capable of acceptance by any such use,
means, instrumentality or facility or from within a Restricted Jurisdiction.
Accordingly, copies of the Offer Document, the Form of Acceptance (in respect of
certificated Local Radio Shares) and this announcement are not being, and must
not be, directly or indirectly, mailed, transmitted or otherwise forwarded,
distributed or sent in or into or from a Restricted Jurisdiction and persons
receiving such documents (including, without limitation, custodians, nominees
and trustees) must not mail, transmit, or otherwise forward, distribute or send
them in or into or from a Restricted Jurisdiction.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes,
"interested" (directly or indirectly) in 1 per cent. or more of any class of
"relevant securities" of Local Radio, all "dealings" in any "relevant
securities" of Local Radio (including by means of an option in respect of, or a
derivative referenced to, any such "relevant securities") by such person must be
publicly disclosed by no later than 3.30 p.m. on the Business Day following the
date of the relevant transaction. This requirement will continue until the date
on which the Offer becomes, or is declared, unconditional as to acceptances,
lapses or is otherwise withdrawn or on which the Offer Period otherwise ends. If
two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire an "interest" in "relevant securities" of
Local Radio, they will be deemed to be a single person for the purposes of Rule
8.3.
Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant
securities" of Local Radio by Local Radio or UKRD, or by any of their respective
"associates", must be disclosed by no later than 12.00p.m. on the Business Day
following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any agreement
to purchase, option in respect of, or derivative referenced to, securities.
Terms in quotations marks are defined in the City Code, which can also be found
on the Panel's website. If you are in any doubt as to the application of Rule 8
to you, please contact an independent financial adviser authorised under the
Financial Services and Markets Act 2000 (as amended), consult the Panel's
website or contact the Panel on telephone number +44 (0)20 7382 9026 or fax +44
(0)20 7236 7005. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.
This information is provided by RNS
The company news service from the London Stock Exchange
END
OUPITMMTMMBTBTL
Local Radio (LSE:TLR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Local Radio (LSE:TLR)
Historical Stock Chart
From Jul 2023 to Jul 2024