Sportsworld Media - Re Timetable for Open Offer
March 09 2000 - 2:08AM
UK Regulatory
RNS Number:9503G
Sportsworld Media Group PLC
9 March 2000
Sportsworld Media Group plc ("Sportsworld" or "the
Company")
Timetable for Open Offer
On 6 March 2000 the Company announced an Open Offer of
4,511,037 new Sportsworld Shares at a price of 620p per
share to be made to Qualifying Shareholders by Investec
Henderson Crosthwaite on behalf of the Company. Set out
below are further details of the Open Offer and the
expected timetable of principal events.
The Open Offer is to be made on the basis of
1 new Sportsworld Share for every 12 Sportsworld Shares
held on the Record date and so in proportion for any
greater or smaller number of existing Sportsworld Shares
then held. Entitlements to new Sportsworld Shares under
the Open Offer will be rounded down to the nearest whole
Sportsworld Share. Fractional entitlements will not be
allotted but will be aggregated and placed for the
benefit of the Company. Application forms are personal
to Shareholders and may not be transferred except to
satisfy bona fide market claims.
Qualifying Shareholders should be aware that under the
Open Offer, unlike a rights issue, the Open Offer Shares
not applied for will not be sold in the market for the
benefit of Qualifying Shareholders who do not apply for
their entitlement to such shares under the Open Offer but
will instead be placed pursuant to the Placing.
A prospectus containing the formal Open Offer to
Qualifying Shareholders, together with an Application
Form is expected to be posted in due course.
Expected timetable of principal events
Record date for the Open Offer 28 February 2000
"ex" date 9 March 2000
Latest time and date for 3.00 pm on 28 March 2000
splitting Application Forms
(bona fide market claims only)
Latest time and date for 3.00 pm on 30 March 2000
receipt of completed
Application Forms and payment
in full in respect of the Open
Offer
Latest time and date for 10.15 am on 1 April 2000
receipt of Forms of Proxy for
the EGM
Extraordinary General Meeting 10.15 am on 3 April 2000
Admission and commencement of the first Dealing Day
dealings after the Offer is
declared wholly
unconditional
CREST accounts credited, where the first Dealing Day
relevant by after the Offer is
declared wholly
unconditional
Share certificates despatched within 14 days of the
relevant commencement of
dealings
Definitions used in this announcement are the same as
those used in the announcement made by Sportsworld on 6
March 2000.
END
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