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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Abdn.Asset.Man. | LSE:ADN | London | Ordinary Share | GB0000031285 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 317.60 | 313.00 | 313.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3155R Aberdeen Asset Management PLC 24 October 2003 For immediate release 24 October 2003 This announcement is not for release, publication or distribution in or into or from the United States, Canada, Australia, New Zealand or Japan. Recommended Offer by Ernst & Young LLP on behalf of Aberdeen Asset Management PLC for Edinburgh Fund Managers Group plc Offer declared wholly unconditional (save as to Admission) Aberdeen Asset Management PLC ("Aberdeen") refers to the announcement made on 5 September 2003 of an offer (the "Offer") by Ernst & Young LLP on behalf of Aberdeen for the whole of the issued and to be issued ordinary share capital of Edinburgh Fund Managers Group plc ("Edinburgh"). The board of Aberdeen is pleased to announce that, following the satisfaction or waiver of all conditions to the Offer (save as to Admission), the Offer is now declared unconditional in all respects (subject only to Admission which is expected to take place on 27 October 2003). The Offer will remain open for acceptance until further notice. Forms of Acceptance not yet returned should be completed and returned in accordance with the instructions in the Offer Document and on the Form of Acceptance so as to be received as soon as possible. As at 3.00 p.m. on 24 October 2003, valid acceptances of the Offer had been received in respect of, in aggregate, 26,029,611 Edinburgh Shares representing approximately 91.26 per cent. of the total issued share capital of Edinburgh. Prior to the announcement of the Offer, Aberdeen had received irrevocable undertakings to accept the Offer in respect of a total of 12,715,027 Edinburgh Shares, representing approximately 44.6 per cent. of the total issued share capital of Edinburgh and a statement of intent to accept the Offer in respect of a total of 1,437,470 Edinburgh Shares, representing approximately 5.0 per cent of the total issued share capital of Edinburgh. Valid acceptances have been received in respect of all the shares subject to these undertakings and statement of intent and are included in the total for valid acceptances set out above. Prior to the commencement of the offer period, clients managed by the Aberdeen Group held, in aggregate, a further 1,034,418 Edinburgh Shares, representing approximately 3.6 per cent. in aggregate of the total issued share capital of Edinburgh. Other than the foregoing, no persons acting in concert with Aberdeen owned or controlled any Edinburgh Shares at the commencement of the offer period, nor have such persons or Aberdeen acquired or agreed to acquire any Edinburgh Shares during the offer period. Settlement in respect of valid acceptances received not later than the close of business on 24 October 2003 will be made in accordance with the terms of the Offer on or before 7 November 2003. While the Offer remains open for acceptance, settlement in respect of further acceptances which are complete in all respects will be made within 14 days of the date of receipt. The board of Aberdeen confirms its intentions, following Admission, to exercise its rights under the provisions of sections 428 to 430F of the Act to acquire compulsorily, as soon as it is able to do so, any remaining Edinburgh Shares to which the Offer relates. Aberdeen shall also procure that Edinburgh will apply for cancellation of the listing of the Edinburgh Shares on the Official List of the UKLA and for cancellation of trading in Edinburgh Shares on the London Stock Exchange's market for listed securities, and that Edinburgh will propose a resolution to re-register as a private limited company under and subject to the relevant provisions of the Act. It is anticipated such cancellations will take effect no earlier than twenty business days after the date hereof. Save where the context otherwise requires, terms defined in the Offer Document and in the Circular and Listing Particulars dated 3 October 2003 have the same respective meanings in this announcement. Enquiries: Aberdeen Martin Gilbert Tel: 020 7463 6000 Ernst & Young Howard Myles Tel: 020 7951 2000 John Stephan Gavin Anderson Neil Bennett Tel: 020 7554 1454 Mark Lunn Ernst & Young LLP has approved the contents of this announcement solely for the purposes of section 21 of the Financial Services and Markets Act 2000. This announcement does not constitute an offer or an invitation to purchase any securities. Any such offer will only be made pursuant to the Offer Document and the Form of Acceptance. 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, the post, electronic mail or any electronic publication or advertisement, facsimile transmission, telex and telephone) of interstate or foreign commerce of, or any facility of a national securities exchange of, the United States, nor is it being made in Canada, Australia, New Zealand or Japan and the Offer will not be capable of acceptance by any such use, means, instrumentality or facilities, or from within the United States, Canada, Australia, New Zealand or Japan. Accordingly, neither this announcement nor the Offer Document nor the Form of Acceptance (or any related offering documentation) is being, or may be, mailed or otherwise forwarded, distributed or sent in or into or from the United States, Canada, Australia, New Zealand or Japan for the purposes of the Offer and persons receiving this announcement, the Offer Document or the Form of Acceptance (or any related offering documentation) including custodians, nominees and trustees, must not mail or otherwise forward, distribute or send them in or into or from the United States, Canada, Australia, New Zealand or Japan for the purposes of the Offer as doing so may render invalid any purported acceptance of the Offer. The full terms and conditions of the Offer (including details of how the Offer may be accepted) are set out in the Offer Document and the Form of Acceptance accompanying the Offer Document. Edinburgh Shareholders who accept the Offer may only rely on the Offer Document and the Form of Acceptance setting out the full terms and conditions of the Offer and the related Listing Particulars. In deciding whether or not to accept the Offer in respect of their Edinburgh Shares, Edinburgh Shareholders should rely on the information contained, and procedures described, in the Offer Document and the Form of Acceptance and the information contained in the Listing Particulars. Ernst & Young LLP, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Aberdeen and no one else in connection with the Offer and will not be responsible to anyone other than Aberdeen for providing the protections afforded to clients of Ernst & Young LLP nor for providing advice in relation to the Offer, the contents of this announcement, the Offer Document, the Form of Acceptance or any related offering documentation or any transaction or arrangement referred to therein. This information is provided by RNS The company news service from the London Stock Exchange END OUPNKQKNOBDDAKB
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