Compulsory Acqn of Shares
Persimmon PLC
26 January 2006
Not for release, publication or distribution, in whole or in part, in, into or
from the United States, Canada, Australia or Japan.
FOR IMMEDIATE RELEASE 26 January 2006
RECOMMENDED CASH OFFER
by
CITIGROUP GLOBAL MARKETS LIMITED ('CITIGROUP')
on behalf of
PERSIMMON PLC ('PERSIMMON')
for
WESTBURY PLC ('WESTBURY')
Posting of compulsory acquisition notices
Further to the announcement made on 17 January 2006 that the Offer had been
declared unconditional in all respects, Persimmon announces that, as at 3.00
p.m. (London time) on 25 January 2006, Persimmon has acquired or received valid
acceptances of the Offer in respect of a total of 80,166,612 Westbury Shares,
representing approximately 69.8 per cent. of Westbury's issued share capital. As
announced on 24 November 2005, Persimmon acquired 30,000,000 Westbury Shares
thereby increasing its total holding of Westbury Shares to 30,000,001
representing approximately 26.1 per cent. of Westbury's issued share capital.
Accordingly, as at 3.00 p.m. (London time) on 25 January 2006, Persimmon either
owned or had received valid acceptances in respect of a total of 110,166,613
Westbury Shares representing approximately 95.9 per cent. of Westbury's issued
share capital.
As valid acceptances of the Offer have been received in respect of more than
nine-tenths in value of Westbury Shares to which the Offer relates, Persimmon
has today sent to non-assenting Westbury Shareholders notices implementing the
procedure set out in sections 428 to 430F of the Companies Act 1985 to acquire
compulsorily those Westbury Shares which have not been assented to the Offer.
The Offer will remain open for acceptance until further notice.
Persimmon PLC Tel: 01904 642 199
Mike Killoran, Group Finance Director
Neil Francis, Group Company Secretary
Citigroup Global Markets Limited Tel: 020 7986 4000
Philip Robert-Tissot
Dimitrios Georgiou
Nigel Mills (Corporate Broking)
Andrew Forrester (Corporate Broking)
Finsbury Group Tel: 020 7251 3801
Edward Orlebar
Faeth Birch
Citigroup Global Markets Limited, which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting exclusively for
Persimmon plc and for no one else in connection with the Offer and will not be
responsible to any other person for providing the protections afforded to
clients of Citigroup Global Markets Limited or for providing advice in relation
to the Offer.
This announcement does not constitute, or form part of, any offer for, or any
solicitation of any offer for, securities. Any acceptance or other response to
the Offer should be made only on the basis of information referred to in the
Offer Document.
Terms defined in the Offer Document shall have the same meaning in this
announcement.
The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore the persons in such
jurisdictions into which this announcement is released, published or distributed
should inform themselves of, and observe, any applicable restrictions.
The Offer is not being made, directly or indirectly, in or into, or by the use
of the mails of, or by any means or instrumentality (including, without
limitation, facsimile or electronic transmission, telex, internet or telephone)
of interstate or foreign commerce of, or any facility of a national state or
other securities exchange of, the United States, Canada, Australia or Japan and
is not capable of acceptance by any such use, means, instrumentality or
facilities from or within the United States, Canada, Australia or Japan.
Accordingly, copies of this announcement and all formal documentation relating
to the Offer are not being, and must not be, mailed or otherwise forwarded,
distributed or sent in, into or from the United States, Canada, Australia or
Japan. Persons receiving such documents (including, without limitation,
nominees, trustees and custodians) should observe these restrictions and must
not mail or otherwise forward, distribute or send such documents in, into or
from the United States, Canada, Australia or Japan. Doing so may invalidate any
related purported acceptance of the Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
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