Completion of Cordiant Acqn
WPP Group PLC
01 August 2003
For Immediate Release
1 August 2003
WPP Group plc ("WPP")
Completion of Acquisition of Cordiant Communications Group plc ("Cordiant")
WPP announces that the scheme of arrangement, under section 425 of the Companies
Act 1985, effecting the acquisition of Cordiant became effective today, 1 August
2003.
Application has been made to the UK Listing Authority for the admission of
2,041,526 new ordinary shares of 10 pence each in WPP to the Official List and
to the London Stock Exchange for these shares to be admitted to trading. The
application has been made in respect of shares to be issued as consideration for
the acquisition of Cordiant. These new ordinary shares will rank pari passu in
all respects with the current issued ordinary shares of WPP including the right
to receive and retain in full all dividends or other distributions (if any)
declared, made or paid hereafter.
The new ordinary shares of WPP will be admitted to the Official List, and
dealings in the shares on the London Stock Exchange will commence, at 8am today,
1 August 2003.
Enquiries:
WPP 020 7408 2204
Paul Richardson
Chris Sweetland
Feona McEwan
Buchanan Communications 020 7466 5000
Richard Oldworth
Mark Edwards
Terms defined in the announcement dated 19 June 2003 have the same meaning when
used in this announcement, unless the context requires otherwise.
Goldman Sachs International is acting for WPP and no one else in connection with
the Acquisition and will not be responsible to anyone other than WPP for
providing the protections afforded to clients of Goldman Sachs International or
for providing advice in relation to the Acquisition.
HSBC is acting for WPP and no one else in connection with the Acquisition and
will not be responsible to anyone other than WPP for providing the protections
afforded to clients of HSBC or for providing advice in relation to the
Acquisition.
This press announcement does not constitute an offer or an invitation to
purchase any securities or a solicitation of an offer to buy any securities. The
New WPP Shares issued pursuant to the Scheme have not been and will not be
registered under the US Securities Act of 1933, as amended (the "Securities
Act") nor under the securities laws of any state of the United States but have
been issued to persons within the United States pursuant to the exemption from
the registration requirements of the Securities Act provided by section 3(a)(10)
of the Securities Act.
The directors of WPP accept responsibility for the information contained in this
announcement and, to the best of their knowledge and belief, having taken all
reasonable care to ensure that such is the case, the information contained
herein is in accordance with the facts and does not omit anything likely to
affect the import of such information.
- ENDS -
This information is provided by RNS
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