Offer Update
07 Julho 2004 - 4:01AM
UK Regulatory
RNS Number:5729A
Precinct Investments Ltd
07 July 2004
Not for release, publication or distribution, in whole or in part, in, into or
from Australia, Canada, Japan, South Africa, the United States or any other
jurisdiction where it would be unlawful to do so.
7 July 2004
Recommended Cash Offers
by
Deloitte Corporate Finance
on behalf of
Precinct Investments Limited ("Precinct")
for
Gresham Hotel Group plc ("Gresham")
Level of acceptances and extension of the Original Offers
The Board of Precinct announces that by 3.00 p.m. on 6 July 2004 valid
acceptances of the Ordinary Share Offer had been received in respect of a total
of 29,866,053 Ordinary Shares, representing approximately 37.57 per cent. of
Gresham's existing issued ordinary share capital.
This total includes acceptances in respect of 4,925,259 Ordinary Shares
(representing approximately 6.2 per cent. of the existing issued ordinary share
capital of Gresham) for which Precinct had received irrevocable undertakings to
accept the Ordinary Share Offer prior to the posting of the Original Offer
Document.
Marblewood Investments Limited, a company owned by the shareholders of Precinct,
has acquired 400,000 Ordinary Shares, representing approximately 0.50 per cent.
of Gresham's existing issued ordinary share capital, since 14 November 2003.
Marblewood Investments Limited has accepted the Ordinary Share Offer in respect
of its entire holding of Ordinary Shares.
On 2 July 2004 Precinct announced recommended Increased Offers and the receipt
of certain irrevocable undertakings from Gresham Shareholders. Further details
of these irrevocable undertakings are set out below:
Name Notes Number of Percentage of Number of Percentage of
Ordinary existing issued Preference existing issued
Shares ordinary share Shares preference share
capital of Gresham capital of
Gresham
% %
Red Sea Group 1 19,032,601 23.94 4,188,893 99.74
Whiterain International 2 10,040,564 12.63 - -
Limited
Ian Ilsley 3 3,500,000 4.40 - -
Harvey Soning 3 250,000 0.31 - -
Balram Chainrai 3 100,000 0.13 - -
Note 1 Relates to the acceptance of an offer at Euro1.40 per Gresham Share.
Note 2 Relates to the acceptance of an offer at Euro1.40 per Gresham Share in
respect of Whiterain International Limited's entire holding of
10,040,563 Ordinary Shares. In the announcement of 2 July 2004
relating to the satisfaction of pre-conditions this holding was
erroneously stated to be 11,000,000 Ordinary Shares. Precinct,
nevertheless, deems the pre-conditions contained in the Recommended
Pre-conditional Increased Cash Offers Announcement made on 2 July
2004 (the "Recommended Pre-conditional Announcement") to be
satisfied.
Note 3 Relates to the acceptance of the Increased Offers.
Valid acceptances pursuant to the above irrevocable undertakings have not yet
been received by Precinct.
By 3.00 p.m. on 6 July 2004 Precinct had received valid acceptances of the
Preference Share Offer in respect of a total of 3,367 Preference Shares,
representing approximately 0.08 per cent. of Gresham's existing issued
preference share capital.
Precinct has also received valid acceptances of the Share Option Proposal in
respect of 1,885,000 Gresham Share Options representing 100 per cent. of the
Gresham Share Options in issue.
Precinct owned no Gresham Shares prior to 14 November 2003 (the date of
commencement of the Offer Period) and has not acquired or agreed to acquire
(other than by way of valid acceptances of the Original Offers) any Gresham
Shares since that date. Catherine Murphy, wife of JJ Murphy, a director of
Precinct, held 1,500 Ordinary Shares at 14 November 2003.
Copies of the Increased Offer Document containing details of the recommended
Increased Offers will be posted to Gresham Shareholders as soon as practicable.
The Original Offers have been extended and will remain open until 3.00 p.m. on
13 July 2004.
Gresham Shareholders who wish to accept the Increased Offers, and who have not
done so, should return their Forms of Acceptance as soon as possible to
Computershare Investor Services (Ireland) Limited, Heron House, Corrig Road,
Sandyford Industrial Estate, Dublin 18, Ireland. Gresham Shareholders who
require assistance with completion of the Form of Acceptance should contact
Computershare Investor Services (Ireland) Limited by telephone on + 353 1 216
3100.
Enquiries:
Precinct
Wilson Hartnell Public Relations Telephone: +353 1 669 0030
Deloitte Corporate Finance
David O'Flanagan Telephone: +353 1 417 2200
NCB Stockbrokers Limited
Fergus McLoughlin Telephone: +353 1 611 5611
Terms defined in the Original Offer Document as varied and supplemented by the
Recommended Pre-conditional Announcement have the same meanings in this
announcement. Precinct reserves all of its rights under the Increased Offers.
The directors of Precinct accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Precinct (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement for which they accept
responsibility is in accordance with the facts and does not omit anything likely
to affect the import of such information.
Deloitte Corporate Finance, a division of Deloitte & Touche which is a
partnership organised under the laws of Ireland and which is authorised by the
Institute of Chartered Accountants in Ireland to carry on investment business in
Ireland, is acting exclusively for Precinct and no one else in connection with
the Increased Offers and will not be responsible to anyone other than Precinct
for providing the protections afforded to clients of Deloitte Corporate Finance
or for providing advice in relation to the Increased Offers, the contents of
this announcement or any transaction or arrangement referred to herein.
NCB Stockbrokers Limited, which is authorised by the Irish Financial Services
Regulatory Authority under the Stock Exchange Act 1995, is acting exclusively as
broker to Precinct and no one else in connection with the Increased Offers and
will not be responsible to anyone other than Precinct for providing the
protections afforded to clients of NCB Stockbrokers Limited or providing advice
in relation to the Increased Offers, the contents of this announcement or any
transaction or arrangement referred to herein.
The availability of the Increased Offers to persons not resident in Ireland or
the United Kingdom may be affected by the laws of the relevant jurisdiction in
which they are resident. Persons who are not resident in Ireland or the United
Kingdom should obtain advice and observe any applicable requirements. Unless
otherwise determined by Precinct, the Increased Offers have not been made,
directly or indirectly, in, into or from Australia, Canada, Japan, South Africa,
the United States or any other jurisdiction where it would be unlawful to do so,
or by use of the mails, or by any means or instrumentality (including, without
limitation, telephonically or electronically) of interstate or foreign commerce,
or by any facility of a national securities exchange of Australia, Canada,
Japan, South Africa, the United States or any other jurisdiction where it would
be unlawful to do so, and the Increased Offers are not capable of acceptance by
any such use, means, instrumentality or facility from or within Australia,
Canada, Japan, South Africa, the United States or any other jurisdiction where
it would be unlawful to do so. Accordingly, copies of this announcement and any
related offering documents are not being, and must not be, mailed or otherwise
distributed or sent in, into or from Australia, Canada, Japan, South Africa, the
United States or any other jurisdiction where it would be unlawful to do so and
persons receiving such documents (including custodians, nominees and trustees)
must not distribute or send them in, into or from Australia, Canada, Japan,
South Africa, the United States or any other jurisdiction where it would be
unlawful to do so, as doing so may invalidate any purported acceptance of the
Increased Offers by persons in any such jurisdiction.
Any person who is the holder of 1 per cent. or more of any class of shares in
Gresham may be required to make disclosures pursuant to Rule 8.3 of the Takeover
Rules.
This information is provided by RNS
The company news service from the London Stock Exchange
END
OUPQKAKKBBKBOOK
Gresham Hotel (LSE:GHL)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Gresham Hotel (LSE:GHL)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
