Scheme Effective
February 12 2009 - 12:41PM
UK Regulatory
TIDMFWY
RNS Number : 2599N
Fayrewood PLC
12 February 2009
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Not for release, distribution or publication, in or into any jurisdiction where
it is unlawful to do so.
Fayrewood Plc
("Fayrewood" or the "Company")
RECOMMENDED OFFER BY LETCHWORTH INVESTMENTS LIMITED FOR FAYREWOOD PLC
Scheme of Arrangement now effective
Fayrewood plc is pleased to announce that the Scheme has become effective.
Admission to trading of the Fayrewood Shares on AIM is expected to be cancelled
at 8:00am tomorrow morning.
Under the Scheme, Scheme Shareholders will receive:
for each Scheme Share 126 pence in cash
For those Scheme Shareholders who have elected, in respect of some or all of the
their Fayrewood Shares, to receive a combination of cash and Letchworth Ordinary
Shares under the the Part Share Alternative, will receive 98 pence in cash and
one Letchworth Ordinary Share for each Scheme Share.
CREST accounts will be credited, or cheques will be posted, in respect of the
cash consideration to which Scheme Shareholders are entitled under the Scheme on
25 February 2009.
Unless the context otherwise requires, terms defined in the announcement dated
10 December 2008 have the same meaning in this announcement.
Enquiries:
Letchworth Investments
David Kleeman Tel: +44 (0)20 7430 9329
Fayrewood
Richard Templeton Tel: +44 (0)1398 331 215/07785 731130
KBC Peel Hunt Limited (Financial Adviser to Fayrewood)
Oliver ScottTel: +44 (0)20 7418 8900
Richard Kauffer
Daniel Harris
Buchanan Communications (PR Adviser to Fayrewood)
Tim Anderson Tel: +44 (0)20 7466 5000
Lisa Baderoon
KBC Peel Hunt, which is authorised and regulated in the United Kingdom for the
conduct of investment business by the Financial Services Authority, is acting
exclusively for Fayrewood (and for Letchworth solely in connection with the
Guidance Letter) and no one else in connection with the matters described in
this announcement and will not be responsible to anyone other than Fayrewood (or
as appropriate, Letchworth) for providing the protections afforded to clients of
KBC Peel Hunt nor for providing advice in relation to the matters described in
this announcement.
This announcement is not intended to, and does not constitute or form any part
of, an offer or invitation to sell or subscribe for or purchase any securities
or solicitation of any vote or approval in any jurisdiction pursuant to the
Transaction or otherwise. The Transaction will be made through the Scheme
Document, which will contain the full terms and conditions of the Transaction
(including details of how to vote in respect of the Transaction). Any acceptance
of or other response to the Transaction should be made only on the basis of the
information contained in the Scheme Document. Fayrewood Shareholders are advised
to read the Scheme Document carefully, once it has been dispatched.
Notice to Overseas Persons
The availability of the Transaction to Fayrewood Shareholders who are not
resident in the United Kingdom may be affected by the laws of relevant
jurisdictions. Fayrewood Shareholders who are not resident in the United Kingdom
will need to inform themselves about and observe any applicable requirements.
The Transaction will be subject to the applicable rules and regulations of the
London Stock Exchange and the City Code.
This communication shall not constitute an offer to sell or the solicitation of
an offer to buy securities, or the solicitation of any vote or approval, nor
shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of such jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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