07 October 2004
ENNSTONE PLC ("ENNSTONE") - LEVEL OF ACCEPTANCES OF
THE OFFER ("OFFER") FOR JOHNSTON GROUP PLC ("JOHNSTON")
- OFFER EXTENDED
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR
INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR
THE REPUBLIC OF IRELAND
By 3.00 pm (London time) on 6 October 2004, Ennstone had received valid
acceptances of the Offer from the holders of 2,169,163 Johnston Shares
(representing approximately 20.03 per cent. of the existing issued share capital
of Johnston). The Offer, including the Mix and Match Election, has been extended
and the next closing date for the Offer will be 3.00 pm on 20 October 2004.
Immediately prior to the commencement of the Offer Period, Ennstone held 88,798
Johnston Shares, representing approximately 0.82 per cent. of the issued share
capital of Johnston.
Accordingly, Ennstone now owns or has received acceptances in respect of
2,257,961 Johnston Shares representing approximately 20.85 per cent. of the
existing issued ordinary share capital of Johnston.
Furthermore, as set out in the offer document dated 4 August 2004 (the "Offer
Document"), Ennstone has received irrevocable undertakings to accept, or cause
acceptance of, the Offer from the Johnston Family Shareholders in respect of
5,424,147 Johnston Ordinary Shares representing approximately 50.09 per cent. of
the existing issued ordinary share capital of Johnston. The terms of the
arrangements with the Johnston Family Shareholders required that, if the offer
for Johnston by Anglo American plc lapsed, they would accept the Offer pursuant
to the terms of their irrevocable undertakings. At 3.00pm (London time) on 6
October 2004 certain of the Johnston Family Shareholders have accepted the offer
in respect of 1,802,299 Johnston Shares.
Therefore, Ennstone now owns or has received acceptances in respect of, or has
irrevocable undertakings to accept the Offer in respect of, 5,879,809 Johnston
Shares representing approximately 54.30 per cent. of the existing issued
ordinary share capital of Johnston.
Prior to the commencement of the Offer Period on 29 July 2004, save as disclosed
in the offer document dated 4 August 2004, neither Ennstone nor any person
acting or deemed to be acting in concert with it owned any Johnston Shares (or
rights over such shares) nor since that date (other than as disclosed above) has
Ennstone or any person acting in concert with it acquired or agreed to acquire
any Johnston Shares (or rights over such shares).
This announcement, which is the sole responsibility of Ennstone, has been
approved by Altium Capital solely for the purpose of Section 21 of the Financial
Services and Markets Act 2000.
Altium Capital, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Ennstone as financial
adviser (within the meaning of the Rules of the Financial Services Authority)
and no-one else in connection with the Offer and is not advising any other
person or treating any other person as its client in relation thereto and will
not be responsible to anyone other than Ennstone for providing the protections
afforded to clients of Altium Capital or for providing advice in relation to the
Offer, the contents of this announcement or any other matters referred to
Terms defined in the offer document dated 4 August 2004 relating to the Offer
bear the same meanings when used in this announcement.
Vaughan McLeod 01332 694444
Altium Capital Limited
Phil Adams/Paul Lines 0161 831 9133
This information is provided by RNS
The company news service from the London Stock Exchange