ISG PLC Response to Cathexis (3879P)

TIDMISG

RNS Number : 3879P

ISG PLC

17 February 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

ISG plc ("ISG" or the "Company")

ISG notes the extension of the offer from Cathexis UK Holdings Limited ("Cathexis") at 171 pence per share (the "Offer") and reiterates its recommendation to Shareholders to accept

The Board of ISG notes the announcement made by Cathexis earlier today that the Offer has been declared unconditional in all respects and will remain open for acceptance until further notice and at least 14 days' notice will be given if Cathexis decides to close the Offer. As part of that announcement, Cathexis stated that, as at 1.00 p.m. (London time) on 17 February 2016, Cathexis and its concert parties either owned or Cathexis had received valid acceptances of the Offer in respect of a total of 31,142,245 Shares, representing approximately 62.93 per cent. of the current issued share capital of ISG.

The Board of ISG repeats its statement that it believes accepting the Offer to be in the best interests of the Shareholders as a whole and unanimously recommends that Shareholders who have not already done so accept the Offer.

ALL ISG SHAREHOLDERS ARE ADVISED TO ACCEPT THE OFFER

Enquiries:

ISG plc

 
David Lawther, Chief Executive Officer     020 7392 5250 
Jonathan Houlton, Group Finance Director

Numis

 
Michael Meade                     020 7260 1000 
Stuart Ord 
Ben Stoop 
 
  Instinctif 
Matthew Smallwood, Helen Tarbet   020 7457 2020

Disclaimer

Numis Securities Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for ISG and no one else in connection with the Offer and the contents of this announcement and will not be responsible to anyone other than ISG for providing the protections afforded to its clients nor for providing advice in connection with the Offer or any matter referred to herein.

Publication on Website

A copy of this announcement will be available on the Company's website (www.isgplc.com) by no later than 12 noon (London time) on 18 February 2016. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Responsibility statement

The Directors of ISG accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors, who have taken all reasonable care to ensure 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

February 17, 2016 12:03 ET (17:03 GMT)

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