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AAP Alpha Airports

109.00
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Alpha Airports LSE:AAP London Ordinary Share GB0000281328 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% 109.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Offer Update

24/07/2007 8:03am

UK Regulatory


RNS Number:7300A
Autogrill SpA
24 July 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION WHERE
TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS IN THAT JURISDICTION.

24 July 2007

RECOMMENDED MANDATORY CASH OFFER BY AUTOGRILL S.P.A ("AUTOGRILL") FOR THE ENTIRE
ISSUED AND TO BE ISSUED SHARE CAPITAL OF ALPHA AIRPORTS GROUP PLC ("ALPHA
AIRPORTS") NOT ALREADY OWNED BY AUTOGRILL


                    OFFER UPDATE AND EXTENSION OF THE OFFER

1.         Level of acceptances

On 4 June 2007, Autogrill and Alpha Airports announced the terms of a
recommended mandatory cash offer by Autogrill for all of the Alpha Airports
Shares not already owned by it (the "Offer").  The offer document setting out
the full terms of the Offer was posted to Alpha Airports Shareholders on 30 June
2007 (the "Offer Document").

Autogrill announces that as at 3.00 p.m. (London time) on 23 July 2007, being
the first closing date of the Offer, valid acceptances of the Offer had been
received in respect of a total of 49,090,771 Alpha Airports Shares, representing
approximately 27.9 per cent. of Alpha Airports' issued share capital.

In addition, prior to posting of the Offer Document, Autogrill had acquired
115,228,451 Alpha Airports Shares representing 65.5 per cent. of Alpha Airports'
issued share capital.

Since the posting of the Offer Document, Autogrill has acquired a further
4,612,994 Alpha Airports Shares through market purchases representing 2.6 per
cent. of Alpha Airports' issued share capital.

In relation to the 184,000 Alpha Airports Shares in respect of which Autogrill
had received an irrevocable undertaking, valid acceptances have been received in
relation to all such shares.  In relation to the options over Alpha Airports
Shares in respect of which irrevocable undertakings had been received, valid
acceptances have been received in respect of options over 939,501 (as yet
unissued) Alpha Airports Shares and 302,158 options over Alpha Airports Shares
have lapsed due to the performance conditions not having been met.

Accordingly, as at 3.00 p.m. (London time) on 23 July 2007, Autogrill owned or
had received valid acceptances in respect of a total of 168,932,216 Alpha
Airports Shares representing approximately 96.0 per cent. of Alpha Airports'
issued share capital.

Save as set out in the Offer Document or as disclosed above, neither Autogrill
nor any person acting in concert with Autogrill held Alpha Airports Shares (or
rights over Alpha Airport Shares) immediately before the commencement of the
Offer Period or has acquired or agreed to acquire Alpha Airport Shares (or
rights over Alpha Airport Shares) during the Offer period. No acceptances of the
Offer have been received from any persons acting in concert with Autogrill.


2.         No lapsing of the Offer

By virtue of the fact that neither of the circumstances set out in paragraph 6
of Part A of Appendix I to the Offer Document arose prior to 3.00 p.m. on 23
July 2007, there are no longer any circumstances in which the Offer may lapse.


3.         Further acceptances

The Offer will remain open for acceptance until further notice.  Not less than
14 calendar days notice in writing will be given prior to the closing of the
Offer by or on behalf of Autogrill to those Alpha Airports Shareholders who have
not accepted the Offer.

Alpha Airports Shareholders holding Alpha Airports Shares in certificated form
who wish to accept the Offer but who have not done so should complete, sign and
return the Form of Acceptance and their share certificates (in accordance with
the procedure set out in Part B of Appendix I to the Offer Document) as soon as
possible to Lloyds TSB Registrars at Princess House, 1 Suffolk Lane, London EC4R
0AX.

Alpha Airports Shareholders holding Alpha Airports Shares in uncertificated form
(that is, in CREST), who wish to accept the Offer but who have not done so
should accept the Offer by TTE Instructions (in accordance with the procedure
set out in Part C of Appendix I to the Offer Document) as soon as possible. If
you hold Alpha Airports Shares as a CREST sponsored member, you should refer to
your CREST sponsor as only your CREST sponsor will be able to send the necessary
TTE instruction to CREST.

Copies of the Offer Document and the Form of Acceptance are available for
inspection (during normal business hours on any Business Day) at the offices of
Bryan Cave, 33 Cannon Street, London EC4M 5TE throughout the period during which
the Offer remains open for acceptance. The Offer Document is also available on
Autogrill's website and on Alpha Airports' website.

Alpha Airports Shareholders who have any questions in relation to how they may
accept the Offer are requested to contact Lloyds TSB Registrars' on 0870 240
7967 (or +44 1903 276 342 if calling from outside the UK) between 9.00 a.m. and
5.00 p.m. (London time) on any Business Day.  Additional Forms of Acceptance are
available from Lloyds TSB Registrars at the address set out above.


4.         Intention to seek a cancellation of the listing

As Autogrill has, by virtue of its shareholding and acceptances of the Offer,
acquired or agreed to acquire shares carrying 75 per cent. or more of the voting
rights of Alpha Airports, Autogrill confirms its intention, as stated in the
Offer Document, to procure the making of applications by Alpha Airports, to
cancel the listing of Alpha Airports Shares from the UKLA's Official List and to
cancel admission to trading in Alpha Airports Shares on the London Stock
Exchange's market for listed securities.  As soon as practicable, Alpha Airports
Shareholders will be notified of the notice period for these cancellations.

Alpha Airports Shareholders who have not yet accepted the Offer should note that
upon the de-listing and cancellation of admission to trading taking effect, the
liquidity and marketability of any Alpha Airports Shares in respect of which the
offer has not been accepted at that time is expected to be significantly
reduced.


5.         Settlement

Settlement of the consideration to which an accepting Alpha Airports Shareholder
is entitled under the Offer will be effected within 14 calendar days of 23 July
2007 and in relation to valid acceptances received after such date, within 14
calendar days of receipt of such acceptance.


6.         Other

Any capitalised terms used but not defined in this announcement are as defined
in the Offer Document.

Autogrill

Patrizia Rutigliano (Director of Group Communication)      Tel: +39 02 4826 3224
Elisabetta Cugnasca (Investor Relations Manager)           Tel: +39 02 4826 3246

UBS Investment Bank (Financial adviser to Autogrill)
Pierpaolo di Stefano                                       Tel: +44 20 7568 0000
Mario Fera


The directors of Autogrill accept responsibility for the information contained
in this announcement. To the best of the knowledge and belief of the Directors
of Autogrill, who have taken all reasonable care to ensure that such is the
case, the information contained in this announcement for which they are
responsible is in accordance with the facts and does not omit anything likely to
affect the import of such information.

UBS, which is authorised and regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for Autogrill and no one else in
connection with the Offer and will not be responsible to anyone other than
Autogrill for providing the protections afforded to its customers or for
providing advice in relation to the Offer, the contents of this announcement or
any transaction or arrangement referred to herein.

This announcement is not intended to and does not constitute, or form any part
of, any offer to sell or any solicitation of any offer to purchase or subscribe
for any securities or the solicitation of any vote or approval in any
jurisdiction.  Any acceptance or other response to the Offer should be made only
on the basis of the information contained in the Offer Document and, in the case
of holders of Alpha Airports Shares in certificated form, the Form of
Acceptance.  The laws of relevant 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
jurisdiction other than the United Kingdom, should inform themselves about and
observe any applicable legal or regulatory requirements of their jurisdiction.

The Offer is not being and will not be made, directly or indirectly, in or into,
or by use of the mails of, or by any means or instrumentality (including,
without limitation, by means of telephone, facsimile, telex, the internet or
other forms of electronic communication) of interstate or foreign commerce of,
or any facilities of a securities exchange of, any Restricted Jurisdiction if to
do so would constitute a violation of the relevant laws of such jurisdiction,
and the Offer will not be capable of acceptance by any such use, means,
instrumentality or facility or from or within any Restricted Jurisdiction.
Accordingly, copies of this announcement, the Offer Document, the Form of
Acceptance and any other related documents are not being, and must not be,
directly or indirectly, mailed or otherwise distributed or sent in or into any
such Restricted Jurisdiction and persons receiving such documents (including
custodians, nominees and trustees) must not distribute or send them in, into or
from such jurisdiction as doing so may make invalid any purported acceptance of
the Offer by persons in any such jurisdiction. Notwithstanding the foregoing,
Autogrill retains the right to permit the Offer to be made and/or accepted, and
any sale of securities pursuant to the Offer to be completed if, at its sole
discretion, it is satisfied that the transaction in question can be undertaken
in compliance with applicable law and regulation.

The Offer is made in the United States pursuant to an exemption from the US
tender offer rules provided under Rule 14d-1(c) of the US Exchange Act.

Autogrill or members of the Autogrill Group may purchase Alpha Airports Shares
otherwise than under the Offer, such as in open market or privately negotiated
purchases. Such purchases shall comply with the applicable laws of the UK as
well as the Disclosure and Transparency Rules and the City Code.




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

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