Songbird Estates PLC Update on Board recommendation (6828D)

TIDMSBD

RNS Number : 6828D

Songbird Estates PLC

30 January 2015

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 OF SUCH JURISDICTION

Songbird Estates plc ("Songbird" or the "Company")

Ordinary Shares of 10 pence each ("Ordinary Shares" or "Songbird Shares")

ISIN code GB00B4MTF637

For immediate release

30 January 2015

Update on Board recommendation

The Board notes the announcement made today by QIA and Brookfield that, as at 1.00 p.m. (London time) on 29 January 2015, they had received valid acceptances in respect of 479,457,743 Songbird Shares, representing approximately 64.8 per cent. of the current issued share capital of Songbird.

In addition, Qatar Holding, acting in concert with QIA and Brookfield, owns a further 211,746,156 Songbird Shares representing approximately 28.6 per cent. of the current issued share capital of Songbird.

Accordingly, as at 1.00 p.m. (London time) on 29 January 2015, QIA, Brookfield and parties acting in concert with them either owned or had received valid acceptances in respect of 691,203,932 Songbird Shares, representing approximately 93.4 per cent. of the current issued share capital of Songbird.

The Board notes:

- that the acceptance condition of the Offer will be satisfied by the acceptance into the Offer of the Songbird Shares referred to above which are held by Qatar Holding; and

- the statement by QIA and Brookfield that the Offer is expected to be declared wholly unconditional on or before 12 February 2015.

Accordingly, as set out in the announcement of 28 January 2015, the Board now recommends that Shareholders accept the Offer. The Directors who own Songbird Shares in their personal capacity have decided that they will do the same in respect of their own holdings.

Extension of the Offer

As set out in the announcement from QIA and Brookfield today, the Offer, which remains subject to the terms and conditions set out or referred to in the Offer Document, is being extended and will remain open for acceptance until 1.00 p.m. (London time) on 12 February 2015. Full details of how to accept the Offer are set out in the Offer Document published on 30 December 2014.

Shareholders who require assistance in accepting the Offer (or who require a replacement Form of Acceptance and Election) should telephone Computershare Investor Services PLC (the receiving agent for the Offer), on 0870 707 1288 (from within the United Kingdom) or +44 870 707 1288 (from outside the United Kingdom).

However, Shareholders should be aware that Computershare Investor Services PLC cannot provide any financial, legal or taxation advice in connection with the Offer nor any advice on the merits of the Offer. Shareholders who are in any doubt as to what action to take are recommended to seek their own personal financial advice immediately from their stockbroker, bank manager, solicitor, accountant or other independent financial adviser authorised under the Financial Services and Markets Act 2000 if they are resident in the United Kingdom or, if not, from another appropriately authorised financial adviser in their own jurisdiction.

Terms used in this announcement shall have the meaning given to them in the Response Circular.

A copy of this announcement will be available at www.songbirdestates.com.

Enquiries:

 
                                    +44 (0) 20 7418 
 Songbird                            2312 
 David Pritchard 
 John Garwood 
 
                                    +44 (0) 20 7280 
 Rothschild                          5000 
 Alex Midgen 
 Robert Waddingham 
 Peter Everest 
 
                                    +44 (0) 20 7425 
 Morgan Stanley                      8000 
 Guy Metcalfe 
 Nick White 
 Ian Hart 
 
 J.P. Morgan Cazenove (Nominated    +44 (0) 20 7742 
  Adviser to Songbird)               4000 
 Bronson Albery 
 Mark Breuer 
 John Mayne 
 
                                    +44 (0) 20 7404 
 Brunswick Group                     5959 
 Simon Sporborg 
 Rosheeka Field

This information is provided by RNS

The company news service from the London Stock Exchange

END

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