DGG Domestic & Gen.

RNS Number:0430H
Domestic & General Group PLC
05 November 2007


5 November 2007

                           RECOMMENDED PROPOSALS FOR

              THE CASH ACQUISITION OF DOMESTIC & GENERAL GROUP PLC

                      BY AIDG JERSEY ACQUISITIONS LIMITED

SATISFACTION OF COMPETITION CONDITION

Further to the announcements by Domestic & General Group PLC ("D&G") on 5
October 2007 and 25 October 2007, the board of directors of AIDG Jersey
Acquisitions and D&G announce that the European Commission has indicated that it
does not intend to initiate proceedings under Article 6(1)(c) of Council
Regulation (EC) 139/2004 on the control of concentrations between undertakings
("ECMR") with respect to the Acquisition or any matter arising from the
Acquisition. Condition 2(c) contained in Part III of the scheme document
relating to the Acquisition dated 24 September 2007 (the "Scheme Document") has
therefore been satisfied.

The implementation of the Scheme and the Acquisition remain subject, inter alia,
to the sanction of the Scheme and the confirmation of the Capital Reduction by
the High Court. It is anticipated that, subject to satisfaction or waiver of the
then outstanding Conditions, the Court hearing to sanction the Scheme will take
place on 19 November 2007, the Court hearing to confirm the Capital Reduction
will take place on 21 November 2007 and the Scheme will become effective on 22
November 2007. Provided this takes place, it is anticipated that the
cancellation of listing of the D&G Shares will take place on 26 November 2007
and cheques will be despatched or cash consideration settled through CREST by 6
December 2007.

Any capitalised term used but not defined in this announcement has the same
meaning given to it in the Scheme Document.

                                    - Ends -


Enquiries
Domestic & General Group PLC                                  +44 20 8879 8591
Nicholas Rochez, Chairman

Advent International plc                                      +44 20 7333 0800
John Singer
Peter Rutland

HSBC                                                          +44 20 7991 8888
Anthony Bernbaum
Julian Gray

Hawkpoint                                                     +44 20 7665 4500
Lawrence Guthrie
Sunil Duggal
G
oldman Sachs International                                   +44 20 7774 1000
Richard Campbell-Breeden
Paul Miller

Collins Stewart (as corporate broker to D&G)                  +44 20 7523 8318
Chris Wells

Hogarth Partnership Limited (on behalf of D&G)                +44 20 7357 9477
John Olsen
Barnaby Fry

Financial Dynamics (on behalf of Advent International plc)    +44 20 7831 3113
Deborah Scott
Fergus Wheeler


HSBC, which is authorised and regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for D&G and no one else in connection
with the Acquisition and will not be responsible to anyone other than D&G for
providing the protections afforded to clients of HSBC or for providing advice in
relation to the Acquisition or any other matters referred to in this
announcement

Hawkpoint, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for D&G and no one else in
connection with the Acquisition and will not be responsible to anyone other than
D&G for providing the protections afforded to clients of Hawkpoint or for
providing advice in relation to the Acquisition or any other matters referred to
in this announcement.

Collins Stewart, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for D&G and no one else in
connection with the Acquisition and will not be responsible to anyone other than
D&G for providing the protections afforded to clients of Collins Stewart or for
providing advice in relation to the Acquisition or any other matters referred to
in this announcement.

Goldman Sachs International, which is authorised and regulated in the United
Kingdom by the Financial Services Authority, is acting exclusively for Advent
and AIDG Jersey Acquisitions and no one else in connection with the Acquisition
and will not be responsible to anyone other than Advent or AIDG Jersey
Acquisitions for providing the protections afforded to clients of Goldman Sachs
International or for providing advice in relation to the Acquisition or any
other matters referred to in this announcement.

This announcement is not intended to and does not constitute an offer to sell or
invitation to purchase any securities or the solicitation of any vote or
approval in any jurisdiction pursuant to the Acquisition or otherwise. Only the
Scheme Document contains the full terms and conditions of the Acquisition. Any
acceptance or other responses to the Scheme should be made only on the basis of
the information in the Scheme Document. D&G has prepared the Scheme Document to
be distributed to those D&G Shareholders able to receive it. D&G and AIDG Jersey
Acquisitions urge D&G Shareholders to read the Scheme Document because it
contains important information relating to the Acquisition.

The distribution, release or publication of this announcement in jurisdictions
other than the UK may be restricted by law and therefore any persons who are
subject to the laws of any jurisdiction other than the UK should inform
themselves about, and observe, any applicable requirements. This announcement
has been prepared for the purpose of complying with English law and the Takeover
Code and the information disclosed 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 availability of the Scheme Document to persons not resident in the United
Kingdom may be affected by the laws of the relevant jurisdictions. Such persons
should inform themselves about and observe any applicable requirements of those
jurisdictions. Any failure to comply with the laws and regulatory requirements
of the relevant jurisdictions may constitute a violation of the securities laws
of any such jurisdiction.

Notice to US Investors in D&G

The Acquisition relates to the securities of a UK company and is subject to UK
disclosure requirements, which are different from those of the United States.
The financial information included in the Scheme Document has been prepared in
accordance with generally accepted accounting principles of the United Kingdom
and thus may not be comparable to financial information of US companies or
companies whose financial statements are prepared in accordance with generally
accepted accounting principles in the United States. Also, the settlement
procedure with respect to the Acquisition will be consistent with UK practice,
which differs from US domestic tender offer procedures in certain material
respects, particularly with regard to date of payment.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
MSCEALFSELXXFFE

Domestic & General (LSE:DGG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Domestic & General (LSE:DGG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024