eVestment Company PLC
20 November 2000
20 November 2000
Offers
by
The eVestment Company Plc (the 'Company')
for
Christows Group Limited ('Christows')
Results of EGM and Offers
At an EGM of The eVestment Company Plc held today shareholders approved all of
the resolutions contained in the circular to shareholders dated 26 October
2000 (the 'Circular'), including the resolutions approving the acquisition of
Christows by the Company and change of the name of the Company to EVC
Christows Plc.
By 3.00 pm on 17 November 2000 valid acceptances had been received in respect
of a total of 2,813,801 Christows Ordinary Shares, representing 99.9 per cent.
of that class. Accordingly, the Board is now declaring the Ordinary Offer
unconditional as to acceptances. Save for the condition in relation to
admission of the enlarged issued share capital of EVC Christows Plc to AIM,
all of the remaining conditions of the Ordinary Offer have now been satisfied
or waived. Accordingly 276,230,829 new eVestment Shares have been allotted to
those Christows Shareholders who have validly accepted the Ordinary Offer.
Christows Shareholders who have validly accepted the Ordinary Offer will
receive share certificates or will have their CREST accounts credited with New
eVestment Shares as soon as possible, but in any event no later than 5
December 2000.
Both the Ordinary Offer and the A Offer will remain open until further notice.
Upon admission of the Enlarged Issued Share Capital the appointments of Duncan
Abbot, Michael Phillips and Alex Snow to the Board will become effective.
Following the EGM Tom Vaughan resigned as a Director of the Company.
Application has been made for the enlarged issued share capital of EVC
Christows Plc, including all shares allotted and to be allotted pursuant to
the Offers, to be admitted to trading on AIM. Admission is expected to take
place at 8.00 am on 21 November 2000 at which point the Ordinary Offer will
become wholly unconditional.
Further to the statements made in the Circular in relation to the Board's
intention to simplify the Company's capital structure by removing the 2.5p
Warrants, 1p Warrants and Further Subscription Rights, the Board has decided
to postpone this exercise for the time being due to current market conditions,
although it remains committed to this objective.
EVC Christows will shortly make appropriate proposals to Christows
Optionholders offering them replacement options in EVC Christows Plc.
Chris Roberts, Chief Executive of The eVestment Company Plc said: 'I am
delighted that investors have seen the significant benefits of the acquisition
by giving it their backing. The combined expertise within the enlarged group
leaves us ideally placed to identify, invest in and advise businesses that
will be success stories of the new century.'
Duncan Abbot, Chairman of Christows Group Ltd, said: 'I too applaud
shareholders' support for a pioneering deal that creates a new business force
by merging our complementary skills in the areas of investment, fund
management and stockbroking.'
Expressions used in this announcement shall bear the same meanings as in the
offer document issued on 26 October 2000, unless the context otherwise
requires.
Enquiries:
Duncan Abbot EVC Christows Plc 020 7444 1730
Chris Roberts EVC Christows Plc 020 7444 1730
Websites www.EVCChristows.com
www.christows.com
This announcement has been approved by Peel Hunt plc ('Peel Hunt') for the
purposes of section 57 of the Financial Services Act 1986. Peel Hunt is
regulated in the United Kingdom by The Securities and Futures Authority
Limited. Peel Hunt is acting for the Company and no one else in connection
with this announcement and will not be responsible to anyone other than the
Company for providing the protections afforded to customers of Peel Hunt or
for providing advice in relation to this announcement. Peel Hunt holds an
interest as principal in eVestment Shares.
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