EVOL Evolve Capital

    RNS Number : 4914K
  Evolve Capital PLC
  19 December 2008
   


    Evolve Capital PLC

    Offer for Blue Oar PLC

    Clarification of Offer Acceptance Procedures

    For immediate release
    19 December 2008

    Evolve Capital PLC ("Evolve") is making this announcement to clarify certain matters about the timing and delivery of acceptances in
relation to Blue Oar PLC ("Blue Oar") shares registered in the name of Dartington Portfolio Nominees Limited and which may also be relevant
to other Blue Oar  shareholders holding shares through nominees.

    Dartington Portfolio Nominees Limited ("DPNL") is a subsidiary of Blue Oar and holds Blue Oar shares in a nominee capacity for Blue Oar
employees and for third parties.

    Some or all of the beneficial holders of Blue Oar shares registered in DPNL's name have been informed that acceptance instructions in
relation to the Offer by Evolve for Blue Oar (the "Offer") should be received by today or no action will be taken. The first closing of the
Offer is at 1pm on 30 December 2008. DPNL will need to input CREST acceptance instructions earlier that day (at the latest) in order for
them to be processed by that time. Any such Blue Oar shareholders who wish to accept the Offer should therefore still instruct DPNL to
accept on their behalf, notwithstanding the passing of the 19 December 2008 final date given to beneficial owners.  

    In view of the Christmas holidays, some other nominee companies may also have told the beneficial holders that they should send in any
acceptance instructions at an early date. While the beneficial holders are encouraged by Evolve to comply with such timings, Evolve urges
them to proceed with any such instructions, even if any relevant deadlines have passed.

    Yesterday Blue Oar notified its employees who hold Blue Oar shares which are registered in the name of its subsidiary DPNL of
arrangements enabling them to accept the Offer without informing Blue Oar of their intended acceptance. These arrangements involve letters
of instruction and authority being sent to Share Registrars Limited. Subsequent queries by Blue Oar employees demonstrated some
misunderstanding, which this announcement is intended to correct.

    Share Registrars Ltd ("Share Registrars") acts as registrar and receiving agent for Evolve and is wholly independent of Blue Oar.

    The circulation by Blue Oar of details of these arrangements appears to have given some Blue Oar employees the impression that Blue Oar
is involved with Share Registrars, leading to concerns over the possible disclosure of employees' intentions to Blue Oar. These arrangements
were designed by Evolve and its advisers and were circulated by Blue Oar at the request of Evolve. Under the arrangements, the instruction
letters will only be lodged with DPNL by Share Registrars if Evolve has received sufficient acceptances of the Offer and Letters of
Instruction to give it, in aggregate, 51% or more of Blue Oar's issued share capital and all other conditions to the Offer are either waived
or fulfilled.  If the Offer fails or lapses, Blue Oar will not be informed of any individual employee's intention to accept it. If the Offer
succeeds, DPNL will be informed, but Evolve will have attracted sufficient support for its Offer to become Blue Oar's and DPNL's ultimate
holding company. 

    The first closing of the Offer is at 1pm on 30 December 2008.

    Copies of the Offer Document, Admission Document and circular to Evolve shareholders which contain further information about Evolve and
its strategy are available in pdf form at www.evolvecapital.co.uk.

    Enquiries:

    
 Evolve Capital PLC  Edward Vandyk   Tel: 020 7937 4445www.evolvecapital.co.uk
 Fairfax I.S. PLC        David                              Tel: 020 7598 5368
 Floyd, Adam Hart and Jeremy Porter
 Maitland        Neil Bennett and                           Tel: 020 7379 5151
 George Hudson 


    The Evolve directors accept responsibility for the information contained in this Announcement. To the best of the knowledge and belief
of the Evolve directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement
for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such
information.

    This announcement does not constitute, or form part of, an offer or an invitation to purchase or subscribe for any securities.  

    Not for release, publication or distribution in whole or in part into ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION


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