Correction to Irrevocable
17 Septiembre 2009 - 8:30AM
UK Regulatory
TIDMWTC
RNS Number : 2463Z
Westcity PLC
17 September 2009
17 September 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.
Further to the announcement on 16 September 2009, in accordance with Rule 2.5 of
the City Code, of Westcity Plc (the "Company") regarding the proposed delisting
of the Company by way of a recommended proposal for the acquisition of the
Company by Berkshire Bidco Limited ("Berkshire") or by way of a special
resolution of the members of the Company (the "2.5 Announcement"), the Company
and Berkshire would like to state that the irrevocable undertaking received from
BBHISL Nominees Limited ("BBHISL") was to elect for the Unlisted Share
Alternative in respect of 4,155,306 shares. The 2.5 Announcement was incorrect
in stating that BBHISL had not elected for the Unlisted Share Alternative and so
was, by default, accepting the Cash Offer.
Having regard to this correction, to date Berkshire and the Company have
received irrevocable undertakings from Shareholders (including Chapman but
excluding the Directors) to elect for the Unlisted Share Alternative in respect
of 31,363,963 Westcity Shares, representing approximately 42.21 per cent. of the
existing issued share capital of Westcity.
Enquiries:
+-----------------------------------------+-----------------------------------------+
| WESTCITY | Tel:+44 (0)20 7424 6711 |
| Michael Tannenbaum (Company Secretary) | |
+-----------------------------------------+-----------------------------------------+
| KBC PEEL HUNT | Tel:+44 (0)20 7418 8900 |
| (Financial adviser and broker to | Tel:+44 (0)20 7418 8900 |
| Westcity) | |
| Alex Vaughan (Corporate Finance) | |
| Richard Kauffer (Corporate Finance) | |
+-----------------------------------------+-----------------------------------------+
| BERKSHIRE | Tel:+44 (0)20 7424 6714 |
| Ira Rapp (Director) | |
+-----------------------------------------+-----------------------------------------+
| HORWATH CLARK WHITEHILL | Tel:+44 (0)20 7842 7100 |
| (Financial adviser to Berkshire) | |
| Nicola Horton (Corporate Finance | |
| Partner) | |
+-----------------------------------------+-----------------------------------------+
KBC Peel Hunt, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Westcity and no one else
in connection with the Acquisition Proposal and will not be responsible to
anyone other than Westcity for providing the protections afforded to clients of
KBC Peel Hunt nor for providing advice in relation to the Acquisition Proposal
or the content of, or any other matter or arrangement described or referred to
in, this announcement.
Horwath Clark Whitehill, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for Berkshire and no
one else in connection with the Acquisition Proposal and will not be responsible
to anyone other than Berkshire for providing the protections afforded to clients
of Horwath Clark Whitehill nor for providing advice in relation to the
Acquisition Proposal or the content of, or any other matter or arrangement
described or referred to in, this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
This information is provided by RNS
The company news service from the London Stock Exchange
END
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