Court Sanctions Scheme

RNS Number:7989N
Internet Business Group
12 February 2008


 Not for release, publication or distribution, in whole or in part, in, into or
    from any jurisdiction where to do so would constitute a violation of the
                       relevant laws of such jurisdiction


   RECOMMENDED OFFER BY TMN GROUP PLC ("TMN") FOR INTERNET BUSINESS GROUP PLC
                            ("IBG" or the "Company")


  to be effected by means of a Scheme of Arrangement under section 425 of the
                               Companies Act 1985

                            Court Sanction of Scheme


On 14 December 2007, the boards of IBG and TMN jointly announced a recommended
offer by TMN to acquire the entire issued and to be issued share capital of IBG
to be effected by way of a Court sanctioned scheme of arrangement under section
425 of the Companies Act 1985. A Scheme Document was posted to IBG Shareholders
on 20 December 2007 setting out the terms of the Acquisition.

IBG announces that on 11 February 2008 the Court sanctioned the Scheme approved
by IBG Shareholders at the Court Meeting held on 23 January 2008. Completion of
the Acquisition remains subject to the satisfaction or waiver (if capable of
waiver) of the remaining Conditions set out in the Scheme Document including,
inter alia, the associated reduction of capital by the Court. The Court Hearing
to confirm the Reduction of Capital is expected to take place on 13 February
2008 giving effect thereby to the acquisition of IBG by TMN. A further
announcement will be made at this time.

It is expected that the last day for dealings in IBG Shares will be 12 February
2008 and that the Scheme will become effective and dealings in the New TMN
Shares will commence at 8 a.m. on 14 February 2008 at which time the listing of
the existing IBG Shares will be cancelled. Under the Scheme, IBG Shareholders
are entitled to 1 TMN Share for every 3.765 IBG Share held at the Scheme Record
Time. As soon as practicable after the Effective Date and, in any event, no
later than fourteen days from the Effective Date, share certificates will be
dispatched to those Scheme Shareholders who hold their IBG Shares in
certificated form in respect of New TMN Shares.

The definitions used or referred to in the Scheme Document dated 20 December
2007 apply in this announcement, unless the context otherwise requires.

Enquiries:

Internet Business Group Plc
Maziar Darvish, Chairman
020 7927 8102

Strand Partners Limited
James Harris / Braden Saunders
020 7409 3494

St Helen's Capital Limited
Ruari McGirr
020 7628 5582

Tavistock Communications Limited
Matt Ridsdale
020 7920 3150

Strand Partners, which is authorised and regulated in the United Kingdom by the
FSA, is acting exclusively for IBG and no one else in connection with the
Acquisition and the Scheme and will not be responsible to anyone other than IBG
for providing the protections afforded to clients of Strand Partners nor for
giving advice in relation to the Acquisition and the Scheme or any other matter
or arrangement referred to in this announcement.

Overseas Jurisdictions

The release, publication or distribution of this announcement in jurisdictions
other than the United Kingdom may be restricted by law and therefore any persons
who are subject to the laws of any jurisdiction other than the United Kingdom
should inform themselves about, and observe, any applicable requirements. This
announcement has been prepared for the purposes of complying with English law
and the City Code and the information disclosed may not be the same as that
which would have been disclosed if this announcement had been prepared in
accordance with the laws and regulations of any jurisdiction outside of England.


THIS ANNOUNCEMENT IS NOT A PROSPECTUS. IT DOES NOT CONSTITUTE OR FORM PART OF
ANY OFFER OF SECURITIES, OR CONSTITUTE SOLICITATION OF ANY OFFER OF SECURITIES.




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

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