Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Wednesday 24 August, 2005

Elm Grove (Caymans)

Offer Update

Elm Grove (Caymans) Limited
24 August 2005

Not for release, publication or distribution, in whole or in part, in or into
the United States, Canada, Japan or Australia or any other jurisdiction where to
do so would constitute a violation of the relevant laws of such jurisdiction.


                                 24 August 2005

                                   CASH OFFER
                    ODL Securities Limited ('ODL Securities')
                                  on behalf of
                     Elm Grove (Caymans), Ltd ('Elm Grove')
                      UK Select Trust Limited ('UK Select')


ODL Securities, on behalf of Elm Grove, announces that, as at 3.00 pm on
Tuesday, 23 August 2005, being the extended closing date of the Offer, valid
acceptances of the Offer had been received in respect of 4,774,925 UK Select
Shares (representing approximately 18.2 per cent of the UK Select Shares to
which the Offer relates and approximately 12.6 per cent of the issued share
capital of UK Select).

In total, therefore, Elm Grove and/or Millennium Partners now either own or
control or Elm Grove has received valid acceptances in respect of, in aggregate,
16,727,873 UK Select Shares (representing approximately 44 per cent, of the
issued share capital of UK Select).

The Offer has been extended and will remain open for acceptance until 3pm on
Tuesday 30 August 2005.

UK Select Shareholders who hold UK Select Shares in certificated form who have
not yet accepted the Offer are reminded to complete and return their Form of
Acceptance as soon as possible in accordance with the instructions set out in
the Offer Document and in the Form of Acceptance. UK Select Shareholders who
hold UK Select Shares in uncertificated form and who have not yet accepted the
Offer are reminded to take the necessary steps through CREST as soon as

If the Offer becomes, or is declared, unconditional in all respects and subject
to any applicable requirements of the UKLA, Elm Grove intends to procure an
application by UK Select to the UKLA for the cancellation of the listing of UK
Select Shares on the Official List and to the London Stock Exchange for the
cancellation of admission to trading of UK Select Shares on its main market for
listed securities.

No acceptances of the Offer have been received from persons acting in concert
with Elm Grove and neither Elm Grove nor any person acting in concert with Elm 
Grove held any UK Select Shares or rights over such shares prior to commencement 
of the Offer Period (other than the 11,952,948 UK Select Shares owned by 
Millennium Partners, representing approximately 31.4 per cent, of the issued 
share capital of UK Select, as specified in the Offer Document) and nor have 
they acquired or agreed to acquire any UK Select Shares, or rights over such 
shares, during the Offer Period.

The Offer remains subject to the terms and conditions set out in the Offer

The definitions of certain capitalised expressions used in this announcement are
contained in the Offer Document posted to UK Select Shareholders on 26 July


Elm Grove (Caymans), Ltd.              Robert Knapp              +1 212 841 4200

ODL Securities, which is regulated and authorised in the United Kingdom by the
Financial Services Authority, is acting only for Elm Grove and no one else in
connection with the Offer and will not regard any other person as its client or
be responsible to any person other than Elm Grove for providing the protections
afforded to clients of ODL Securities, or for providing advice in relation to
the Offer or the contents of this announcement.

The law of certain jurisdictions may affect the availability of the Offer to
persons not resident in the United Kingdom. Persons who are not resident in the
United Kingdom, or who are subject to the laws of any jurisdictions other than
the United Kingdom, should inform themselves about, and observe, any applicable
requirements. Further details in relation to overseas UK Select Shareholders are
contained in the Offer Document.

This announcement does not constitute, or form part of, any offer, or
solicitation of any offer, for securities. Any acceptance or other response to
the Offer should only be made on the basis of the information contained in the
Offer Document which Elm Grove despatched to UK Select Shareholders on 26 July

The Offer will not be made, directly or indirectly, in or into, or by the use of
the mails of, or by any means of instrumentality (including, but not limited to,
facsimile, email, telex or other electronic transmission or telephone) of
interstate or foreign commerce of, or of any facility of a national, state or
other securities exchange of, the United States, Canada, Australia or Japan and
the Offer is not capable of acceptance by any such use, means, instrumentality,
facility or otherwise from within the United States, Canada, Australia or
otherwise sent, forwarded or distributed into, in or from the United States,
Canada, Australia or Japan, including to UK Select Shareholders with registered
addresses in the United States, Canada, Australia or Japan or to persons whom
Elm Grove or ODL Securities know to be custodians, nominees or trustees holding
UK Select Shares for persons with registered addresses in the United States,
Canada, Australia or Japan. Persons receiving or accessing a copy of this
announcement (including, without limitation, custodians, nominees and trustees)
should not send, forward or distribute it into, in or from the United States, or
facility for any purpose, directly or indirectly, in connection with the Offer
and so doing may invalidate any acceptance of the Offer.

The directors of Elm Grove accept responsibility for the information contained
in this announcement, save that the only responsibility they accept in respect
of the information relating to or involving the issued share capital of UK
Select, which is based on the issued share capital of UK Select as at 7 July
2005 (being 38,123,640 ordinary shares of 10p each, such number being derived
from a confirmation received from UK Select), is to ensure that such information
has been correctly and fairly reproduced and presented. Save as aforesaid, to
the best of the knowledge and belief of the directors of Elm Grove (who have
taken all reasonable care to ensure that such is the case), the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to effect the import of such information.

The Panel wishes to draw attention to certain UK dealing disclosure requirements
following the announcement of the Offer. The offer period is deemed to commence
at the time when an announcement is made of a proposed offer, with or without

Under the provisions of Rule 8.3 of the City Code any person who, alone or
acting together with any other person(s) pursuant to an agreement or
understanding (whether formal or informal) to acquire or control relevant
securities of UK Select owns or controls, or becomes the owner or controller,
directly or indirectly, of one per cent, or more of any class of securities of
UK Select is required to disclose, by not later than 12.00 noon (London time) on
the London business day following the date of the relevant transaction, dealings
in such securities of UK Select (or in any option in respect of, or derivative
referenced to, any such securities) during the period to the date on which the
Offer becomes or is declared unconditional as to acceptances or lapses or is
otherwise withdrawn.

Under the provisions of Rule 8.1 of the City Code, all dealings in relevant
securities of UK Select by Elm Grove or by any of their respective 'associates'
(within the meaning of the City Code) must also be disclosed.

If you are in any doubt as to the application of Rule 8 to you, please contact
an independent financial adviser authorised under the Financial Services and
Markets Act 2000, consult the Panel's website at or
contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013.

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

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