Inspec Group PLC - Offer Acceptances, Extended
September 01 1998 - 4:30AM
UK Regulatory
RNS No 2856x
INSPEC GROUP PLC
1st September 1998
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED
STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN
RECOMMENDED OFFER FOR INSPEC GROUP PLC
---------------------------------------
LEVEL OF ACCEPTANCES
Laporte plc ('Laporte')announces that as at 3.00 pm on 28th
August, 1998, the first closing date of Laporte's Offer for Inspec
Group plc ('Inspec'), Laporte had purchased or received
acceptances in respect of a total of 152,058,740 Inspec Shares,
representing 86.1 per cent. of the existing issued share capital
of Inspec.
The Offer has been extended until 3.00 pm on Tuesday, 15th
September, 1998.
* As at 3.00 pm on 28th August, 1998 valid acceptances in
respect of 101,514,050 Inspec Shares, representing 57.5
per cent. of the existing issued share capital of Inspec
had been received. None of these acceptances have been
received from persons acting in concert with Laporte.
* In addition, between 4th (the start of the Offer Period)
and 6th August, 1998, Laporte purchased in the market
50,544,690 Inspec Shares (representing approximately
28.6 per cent. of the existing issued share capital of
Inspec).
* Furthermore, on 5th August, 1998, Laporte was given
irrevocable undertakings to accept the Offer from
directors of Inspec in respect of 6,608,903 Inspec
Shares, representing approximately 4 per cent. of
Inspec's existing issued share capital. (These Shares
are included in the above-mentioned level of
acceptances).
Credit Suisse Asset Management (which is acting in concert with
Laporte) held 4,800 Inspec Shares on 4th August, 1998 representing
approximately 0.003 per cent. of Inspec's existing issued share
capital.
Save as disclosed herein, neither Laporte nor any person acting in
concert with Laporte held any Inspec Shares or rights over Inspec
Shares before 4th August, 1998 nor has any such person acquired or
agreed to acquire any Inspec Shares or rights over Inspec Shares
since 4th August, 1998.
The Offer and acceptances under it remain conditional upon, inter
alia, the passing of an appropriate resolution by Laporte
Shareholders at an Extraordinary General Meeting to take place at
noon today.
Unless the context otherwise requires, the definitions contained
in the Offer Document dated 7th August, 1998 also apply in this
announcement.
ENQUIRIES:
LAPORTE Tel: 0171 399 2400
-------
James Leng
Michael Kayser
LAZARD BROTHERS & CO., LIMITED Tel: 0171 588 2721
------------------------------
Nigel Turner
John Wilford
FINSBURY Tel: 0171 251 3801
--------
James Murgatroyd
Tom Hampson
The directors of Laporte accept responsibility for the information
contained in this announcement. To the best of the knowledge and
belief of the directors of Laporte (who have taken all reasonable
care to ensure that such is the case), the information contained
in this announcement is in accordance with the facts and does not
omit anything likely to affect the import of such information.
Lazard Brothers which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting exclusively
for Laporte and no one else in connection with the Offer and will
not be responsible to anyone other than Laporte for providing the
protections afforded to customers of Lazard Brothers nor for
providing advice in relation to the Offer or any other matter
referred to herein.
END
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