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Ennstone PLC (ENN)

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Monday 01 November, 2004

Ennstone PLC

Offer Wholly Unconditional

Ennstone PLC
01 November 2004


               NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR
              INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR
                            THE REPUBLIC OF IRELAND


                                                                 1 November 2004


                            ENNSTONE PLC ("ENNSTONE")
        RECOMMENDED OFFER ("OFFER") FOR JOHNSTON GROUP PLC ("JOHNSTON")
                          UNCONDITIONAL IN ALL RESPECTS
                            AND LEVEL OF ACCEPTANCES


Johnston Offer Wholly Unconditional

Further to the announcement made on 29 October 2004, the Board is pleased to
announce that Ennstone's Offer for Johnston has become unconditional in all
respects.  The Offer will remain open for acceptances until further notice.


Mix and Match Election

The Mix and Match Election has now closed. Acceptances pursuant to this facility
were as follows:

  • 2,130,977 accepted the Offer
  • 627,996 accepted the facility for additional shares
  • 4,663,745 accepted the facility for additional cash


Level of Acceptances

As at 3.00 pm (London time) on 29 October 2004, Ennstone had received valid
acceptances of the Offer from the holders of 7,422,718 Johnston Shares
(representing approximately 68.54 per cent. of the existing issued share capital
of Johnston).

Immediately prior to the commencement of the Offer period on 29 July 2004 ("
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
7,511,516 Johnston Shares representing approximately 69.36 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, 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
herein.


Terms defined in the Offer Document bear the same meanings when used in this
announcement.


Enquiries:

Ennstone plc
Vaughan McLeod                                                     01332 694444

Altium Capital Limited
Phil Adams/Paul Lines                                             0161 831 9133

College Hill
Mark Garraway/Matthew Gregorowski                                 020 7457 2020




                      This information is provided by RNS
            The company news service from the London Stock Exchange