RHG Real Hotel Grp

RNS Number:9445T
James Reed & Partners PLC
10 November 2005


This announcement is not for release, publication or distribution in or into or
from the United States, Canada, Australia, Japan or any other jurisdiction if to
do so would constitute a violation of the relevant laws of such jurisdiction.

                     For immediate release 10 November 2005
                                        
                                        
                                  Cash Offers
                                        
                                       by
                                        
                             Altium Capital Limited

                                  on behalf of
                           James Reed & Partners plc
                                      for

                              Reed Health Group plc
                                        
                                        
                                        
                            POSTING OF OFFER DOCUMENT

James Reed & Partners plc ("James Reed & Partners") announces that the document
(the "Offer Document") containing the full terms and conditions of the offers
(the "Offers"), being made by Altium Capital Limited on its behalf, to acquire 
the whole of the issued and to be issued share capital of Reed Health Group plc
("Reed Health"), is being posted to Reed Health Shareholders today, together
with the Forms of Acceptance.

The Offers are being made on the following basis:

     for each Reed Health Ordinary Share 55p in cash
     for each Reed Health "B" Share 55p in cash

A Loan Note Alternative is being made available.

The Offers value the existing issued share capital of Reed Health at
approximately #32.8 million and represent:

   * a premium of approximately 50.7 per cent. to the Closing Price of 36.5p
    per Reed Health Ordinary Share on 7 November 2005, being the last business
    day prior to the date of the announcement of the Offers; and


   * a premium of approximately 30.3 per cent. to the average Closing Price
    of 42.2p per Reed Health Ordinary Share for the six month period ending 7
    November 2005, being the last business day prior to the date of the
    announcement of the Offers.

James Reed & Partners has received irrevocable undertakings to accept the Offers
in respect of 8,091,748 Reed Health Ordinary Shares and 26,827,500 Reed Health
'B' Shares, representing approximately 24.7 per cent. of the Reed Health
Ordinary Shares and approximately 99.9 per cent. of the Reed Health 'B' Shares,
respectively, which together represent approximately 58.5 per cent. of the
entire issued share capital and voting rights of Reed Health.

In addition, since the announcement of the Offers, James Reed & Partners has
announced that it has purchased a total of 4,472,304 Reed Health Ordinary
Shares, representing approximately 13.6 per cent. of the Reed Health Ordinary
Shares and approximately 7.5 per cent. of the entire issued share capital and
voting rights of Reed Health.

James Reed & Partners, therefore, either owns, or has received irrevocable
undertakings to accept the Offers in respect of, 12,564,052 Reed Health Ordinary
Shares and 26,827,500 Reed Health 'B' Shares, representing approximately 38.3
per cent. of the Reed Health Ordinary Shares and approximately 99.9 per cent. of
the Reed Health 'B' Shares, respectively, which together represent approximately
66.0 per cent. of the entire issued share capital and voting rights of Reed
Health.

James Reed & Partners believes that the Offers provide Reed Health Shareholders
with the opportunity to realise a premium valuation in cash now and encourages
Reed Health Shareholders to accept the Offers.

Acceptances of the Offers should be received as soon as possible following
receipt of the Offer Document and, in any event, by no later than 3.00 pm on 1
December 2005.

Enquiries:

James Reed & Partners plc
James Reed / Derek Beal                               Tel: 020 7616 2301

Altium Capital Limited
Garry Levin / Tim Richardson / Marc Milmo             Tel: 020 7484 4040

Smithfield Consultants
Katie Hunt / Reg Hoare                  Tel: 07884 494112 / 07831 406117

This announcement should be read in conjunction with, and is subject to, the
full terms and conditions set out in the Offer Document and the Forms of
Acceptance.

Terms used in this announcement shall have the same meaning as those in the
Offer Document.

The directors of James Reed & Partners (the "Directors") accept responsibility
for the information contained in this announcement. To the best of the knowledge
and belief of the Directors (who have taken all reasonable care to ensure that
such is the case), the information contained herein is in accordance with the
facts and does not omit anything likely to affect the import of such information.

This announcement does not constitute an offer to sell or an invitation to
purchase any securities or the solicitation of any vote or approval in any
jurisdiction. The Offers are being made solely by the Offer Document and the
Forms of Acceptance, which contain the full terms and conditions of the Offers
(including details of how they may be accepted).

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in any such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about and observe any applicable requirements.

The Offers (including the Loan Note Alternative) will not be made, directly or
indirectly, in, into or from the United States, or by use of the United States
mails, or by any means or instrumentality (including, without limitation,
facsimile transmission, telex, telephone or e-mail) of United States interstate
or foreign commerce, or any facility of a national securities exchange of the
United States, Canada, Australia or Japan. Accordingly, this announcement,
copies of this announcement and any related documents are not being and must not
be mailed or otherwise distributed or sent in, into or from the United States,
Canada, Australia or Japan and persons receiving this announcement and any
related documents (including custodians, nominees and trustees) must not mail or
otherwise forward, distribute or send them in, into or from the United States,
Canada, Australia or Japan. All Reed Health Shareholders (including nominees,
trustees or custodians) who would, or otherwise intend to forward this
announcement, should inform themselves about and observe any applicable
requirement.

Altium Capital Limited, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for James Reed &
Partners as financial adviser within the meaning of the Rules of the Financial
Services Authority and for no one else in connection with the Offers. Altium
Capital Limited is not advising any other person or treating any other person as
its client in relation thereto and will not be responsible to anyone other than
James Reed & Partners for providing the protections afforded to clients of
Altium Capital Limited, or for giving advice to any other person in relation to
the Offers, the contents of this announcement or any other matter referred to
herein.




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

END
ODPEAFFEFSFSFFE

Reed Health (LSE:RHG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Reed Health (LSE:RHG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024