Offer Update
January 31 2002 - 2:00AM
UK Regulatory
RNS Number:7637Q
Redac Limited
30 January 2002
30 January 2002
REDAC LIMITED
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA, SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN
RECOMMENDED CASH OFFER FOR CEDAR PLC
LEVEL OF ACCEPTANCES
By 3.00 p.m. London time on 30 January 2002, Redac had received valid
acceptances of the Offer from the holders of 37,849,724 Cedar Shares
(representing approximately 49.27 per cent. of the existing issued share capital
of Cedar).
Since the announcement of the Offer, Redac has purchased 1,402,000 Cedar Shares
(representing approximately 1.83 per cent. of the existing issued share capital
of Cedar). These Cedar Shares are not included in the total level of
acceptances referred to above. Once these purchases satisfy the requirements of
Rule 10 of the City Code on Takeovers and Mergers, the acceptance condition will
have been met.
Redac intends to declare the Offer to be wholly unconditional as soon as the
acceptance condition has been met.
Prior to the announcement of the Offer, Redac had received undertakings to
accept the Offer in respect of 156,753 Cedar Shares (representing approximately
0.2 per cent. of the existing issued share capital of Cedar), and acceptances of
the Offer have been received in respect of all such Cedar Shares and have been
included in the total level of acceptances referred to above.
Prior to the commencement of the Offer Period on 28 December 2001, neither Redac
nor any person acting or deemed to be acting in concert with it owned any Cedar
Shares (or rights over such shares) nor since that date (other than as disclosed
above) has Redac or any person acting in concert with it acquired or agreed to
acquire any Cedar Shares (or rights over such shares).
As announced on 29 January 2002, the next closing date for the Offer will be
3.00 p.m. on 4 February 2002. Cedar Shareholders who wish to accept the Offer,
and who have not yet done so, should return their Form of Acceptance as soon as
possible. Additional Forms of Acceptance are available from Lloyds TSB
Registrars, Antholin House, 71 Queen Street, London EC4N 1SL (telephone: 0870
607 0636).
In this announcement 'Offer Document' means the document dated 7 January 2002,
relating to the Offer. Definitions used in the Offer Document have the same
meanings when used in this announcement, unless the context requires otherwise.
Enquiries:
For further information, please contact:
Redac
Martin Bolland 020 7240 9596
KPMG Corporate Finance
Paul Elliot 020 7311 1000
The Offer is not being made, directly or indirectly, in or into the United
States, or by the use of the United States mails, or by any means or
instrumentality (including without limitation telephonically or electronically)
of the United States interstate or foreign commerce, or any facility of a United
States national securities exchange, nor is it being made in, or into Canada,
Australia, South Africa, the Republic of Ireland or Japan. Accordingly, copies
of the announcement are not being and must not be mailed forwarded, sent,
transmitted or otherwise distributed in, into or from the United States, Canada,
Australia, South Africa, the Republic of Ireland or Japan and persons receiving
this announcement (including without limitation custodians, nominees and
trustees) must not distribute forward, mail, transmit or send it in, into or
from the United States, Canada, Australia, South Africa, the Republic of Ireland
or Japan as doing so may make invalid any purported acceptance of the Offer in
any such jurisdiction.
The contents of this announcement have been approved solely for the purposes of
Section 21 of the Financial Services and Markets Act 2000 by KPMG Corporate
Finance. KPMG Corporate Finance is a division of KPMG. The address of KPMG
Corporate Finance is 8 Salisbury Square, London, EC4Y 8BB.
KPMG Corporate Finance is acting for RHL and Redac as financial adviser in
relation to the Offer and is not acting for any other person in relation to such
Offer. KPMG Corporate Finance will not be responsible to anyone other than RHL
and Redac for providing the protections afforded to its clients or for providing
advice in relation to the contents of this announcement or any Offer or
arrangement referred to herein.
This information is provided by RNS
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