TIDMLBE TIDMMWB 
 
RNS Number : 0889O 
BlueGem Capital Partners LLP 
23 June 2010 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY 
OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT 
LAWS OR REGULATIONS OF SUCH JURISDICTION 
FOR IMMEDIATE RELEASE 
23 June 2010 
            RECOMMENDED CASH OFFER 
 BY 
 BLUEGEM GAMMA LIMITED 
                  ("BGL") 
 FOR 
 LIBERTY PLC ("LIBERTY") 
                      OFFER UNCONDITIONAL AS TO ACCEPTANCES 
On 28 May 2010, BGL made a recommended cash offer for the entire existing issued 
ordinary share capital of Liberty. 
Level of acceptances 
BGL is pleased to announce that, as at 1.00 p.m. (London time) on 22 June 2010, 
being the first closing date of the Offer, BGL had received valid acceptances of 
the Offer in respect of a total of 21,923,363 Liberty Shares, representing 
approximately 96.99 per cent of the existing issued ordinary share capital of 
Liberty, which BGL may count towards the satisfaction of the acceptance 
condition to the Offer. So far as BGL is aware, none of these acceptances had 
been received from persons acting in concert with BGL. 
On 28 May 2010, the BGL Board announced that it had received irrevocable 
undertakings to accept the Offer in respect of 20,460,127 Liberty Shares, 
representing approximately 90.52 per cent of the existing issued ordinary share 
capital of Liberty. Valid acceptances have been received in respect of all of 
these Liberty Shares. 
Accordingly, BGL confirms that the Offer is unconditional as to acceptances. 
Extension of the Offer 
The Offer, which remains subject to the terms and conditions set out in the 
Offer Document and the Form of Acceptance, has been extended and will remain 
open for acceptance until further notice. 
The Liberty Shareholders who have not yet accepted the Offer and who hold 
Liberty Shares in certificated form are urged to complete, sign and return the 
Form(s) of Acceptance by hand (during normal business hours) or by post as soon 
as possible to Capita Registrars at Corporate Actions, The Registry, 34 
Beckenham Road, Beckenham, Kent BR3 4TU. Additional Forms of Acceptance are 
available from Capita Registrars, by telephoning 0870 162 3121 or, if calling 
from outside the UK, on +44 208 639 3399. If you hold your Liberty Shares in 
uncertificated form (that is, in CREST) you are urged to accept the Offer by TTE 
Instructions as soon as possible. 
Interests in relevant securities 
Save as disclosed above, neither BGL nor any person acting in concert with BGL 
for the purposes of the Offer is interested in or has any rights to subscribe 
for any Liberty Shares nor does any such person have any short position or any 
arrangement in relation to Liberty Shares. For these purposes "arrangement" 
includes any agreement to sell or any dealing obligation or right to require 
another person to purchase or take delivery of, and borrowing or lending of, 
Liberty Shares. An "arrangement" also includes any indemnity or option 
arrangement, any agreement or understanding, formal or informal, of whatever 
nature, relating to Liberty Shares which may be an inducement to deal or refrain 
from dealing in such securities. "Interest" includes any long economic exposure, 
whether conditional or absolute, to changes in the prices or securities and a 
person is treated as having an "interest" by virtue of the ownership or control 
of securities, or by virtue of any option in respect of, or derivative 
referenced to securities. 
 
Terms used in this announcement shall have the meaning given to them in the 
Offer Document dated 28 May 2010, unless the context requires otherwise. 
Enquiries: 
For further information please contact: 
+---------------+-----------+ 
| BlueGem       |      Tel: | 
| Capital       |       +44 | 
| Partners      |     (0)20 | 
| LLP           | 7647 9710 | 
| Marco         |           | 
| Capello       |           | 
+---------------+-----------+ 
|               |           | 
+---------------+-----------+ 
| Hawkpoint     |      Tel: | 
| Partners      |       +44 | 
| Limited       |     (0)20 | 
| (financial    | 7665 4500 | 
| adviser to    |           | 
| BGL)          |           | 
| Christopher   |           | 
| Darlington    |           | 
| Vinay Ghai    |           | 
+---------------+-----------+ 
|               |           | 
+---------------+-----------+ 
| Liberty       |      Tel: | 
| plc           |       +44 | 
| Richard       |     (0)20 | 
| Balfour-Lynn, | 7706 2121 | 
| Chairman      |           | 
+---------------+-----------+ 
|               |           | 
+---------------+-----------+ 
| Cavendish     |      Tel: | 
| Corporate     |       +44 | 
| Finance       |     (0)20 | 
| LLP           | 7908 6000 | 
| (financial    |           | 
| adviser to    |           | 
| Liberty)      |           | 
| Jonathan      |           | 
| Buxton        |           | 
+---------------+-----------+ 
|               |           | 
+---------------+-----------+ 
| Global        |      Tel: | 
| Leisure       |       +44 | 
| Partners      |     (0)20 | 
| LLP           | 7016 8050 | 
| (financial    |           | 
| adviser to    |           | 
| Liberty)      |           | 
| Mervyn        |           | 
| Metcalf       |           | 
+---------------+-----------+ 
 
Hawkpoint Partners Limited, which is authorised and regulated in the UK by the 
FSA, is acting exclusively for BlueGem Gamma Limited and no one else in 
connection with the Offer and will not be responsible to anyone other than 
BlueGem Gamma Limited for providing the protections afforded to the clients of 
Hawkpoint Partners Limited nor for providing advice in relation to the Offer, 
the contents of this announcement, or any transaction or arrangement referenced 
herein. 
Cavendish Corporate Finance LLP, which is authorised and regulated in the UK by 
the FSA, is acting exclusively for Liberty and no one else in connection with 
the Offer and will not be responsible to anyone other than Liberty for providing 
the protections afforded to the clients of Cavendish Corporate Finance LLP nor 
for providing advice in relation to the Offer, the contents of this 
announcement, or any transaction or arrangement referenced herein. 
Global Leisure Partners LLP, which is authorised and regulated in the UK by the 
FSA, is acting exclusively for Liberty and no one else in connection with the 
Offer and will not be responsible to anyone other than Liberty for providing the 
protections afforded to the clients of Global Leisure Partners LLP nor for 
providing advice in relation to the Offer, the contents of this announcement, or 
any transaction or arrangement referenced herein. 
This announcement is not intended to, and does not, constitute or form part of 
any offer, invitation or the solicitation of an offer to purchase, otherwise 
acquire, subscribe for, sell or otherwise dispose of, any securities or the 
solicitation of any vote or approval in any jurisdiction pursuant to this 
announcement or otherwise. The Offer is being made solely by the Offer Document, 
when issued, which contains the full terms and conditions of the Offer, 
including details of how the Offer may be accepted. 
This announcement has been prepared for the purpose of complying with English 
law and the City Code and the information disclosed may not be the same as that 
which would have been disclosed if this announcement had been prepared in 
accordance with the laws of jurisdictions outside the UK. 
Overseas Shareholders 
The distribution of this announcement in jurisdictions other than the UK and the 
availability of the Offer to Liberty Shareholders who are not resident in the UK 
may be affected by the laws of relevant jurisdictions. Any persons who are 
subject to the laws of any jurisdiction other than the UK or Liberty 
Shareholders who are not resident in the UK will therefore need to inform 
themselves about, and observe, any applicable requirements. 
The Offer is not being, and will not be, made, directly or indirectly, in, into 
or from the United States, Canada, Australia, Japan or any other Restricted 
Jurisdiction. Accordingly, copies of this announcement are not being, and must 
not be, directly or indirectly, mailed, transmitted or otherwise forwarded, 
distributed or sent in, into or from the United States, Canada, Australia, Japan 
or any other Restricted Jurisdiction. 
Dealing Disclosure Requirements 
Under Rule 8.3(a) of the City Code, any person who is interested in 1 per cent. 
or more of any class of relevant securities of an offeree company or of any 
paper offeror (being any offeror other than an offeror in respect of which it 
has been announced that its offer is, or is likely to be, solely in cash) must 
make an Opening Position Disclosure following the commencement of the Offer 
Period and, if later, following the announcement in which any paper offeror is 
first identified. An Opening Position Disclosure must contain details of the 
person's interests and short positions in, and rights to subscribe for, any 
relevant securities of each of (i) the offeree company and (ii) any paper 
offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) 
applies must be made by no later than 3:30pm on the 10th business day following 
the commencement of the Offer Period and, if appropriate, by no later than 
3:30pm on the 10th business day following the announcement in which any paper 
offeror is first identified. Relevant persons who deal in the relevant 
securities of the offeree company or of a paper offeror prior to the deadline 
for making an Opening Position Disclosure must instead make a Dealing 
Disclosure. 
Under Rule 8.3(b) of the City Code, any person who is, or becomes, interested in 
1 per cent. or more of any class of relevant securities of the offeree company 
or of any paper offeror, must make a Dealing Disclosure if the person deals in 
any relevant securities of the offeree company or of any paper offeror. A 
Dealing Disclosure must contain details of the dealing concerned and of the 
person's interests and short positions in, and rights to subscribe for, any 
relevant securities of each of (i) the offeree company and (ii) any paper 
offeror, save to the extent that these details have previously been disclosed 
under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must 
be made by no later than 3:30pm on the business day following the date of the 
relevant dealing. 
If two or more persons act together pursuant to an agreement or understanding, 
whether formal or informal, to acquire or control an interest in relevant 
securities of an offeree company or a paper offeror, they will be deemed to be a 
single person for the purpose of Rule 8.3. 
Opening Position Disclosures must also be made by the offeree company and by any 
offeror and Dealing Disclosures must also be made by the offeree company, by any 
offeror and by any persons acting in concert with any of them (see Rules 8.1, 
8.2 and 8.4). Details of the offeree and offeror companies in respect of whose 
relevant securities Opening Position Disclosures and Dealing Disclosures must be 
made can be found in the Disclosure Table on the Panel's website at 
www.thetakeoverpanel.org.uk, including details of the number of relevant 
securities in issue, when the Offer Period commenced and when any offeror was 
first identified. If you are in any doubt as to whether you are required to make 
an Opening Position Disclosure or a Dealing Disclosure, you should contact the 
Panel's Market Surveillance Unit on +44 (0)20 7638 0129. 
Online availability of this announcement 
A copy of this announcement will be available subject to certain restrictions 
relating to persons resident in the United States, Canada, Australia, Japan or 
any other Restricted Jurisdiction, on Liberty's website 
(http://www.liberty.co.uk/fcp/content/investorinformation/content) from the date 
of this announcement. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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