We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Local Radio | LSE:TLR | London | Ordinary Share | GB00B0108C60 | ORD 4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.05 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTLR RNS Number : 6448S UKRD Group Limited 21 May 2009 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO Mandatory cash offer by UKRD Group Limited, as advised by Charles Stanley Securities, for the entire issued and to be issued ordinary share capital of The Local Radio Company PLC (the "Second Revised Offer") OFFER DOCUMENT POSTED Further to the announcement made on 12 May 2009 of a second revised mandatory cash offer for the entire issued and to be issued share capital of The Local Radio Company PLC ("Local Radio") not already owned by UKRD Group Limited ("UKRD"), UKRD is pleased to announce that the offer document (the "Second Revised Offer Document") containing the full terms of the Second Revised Offer was posted to Local Radio Shareholders yesterday together, where appropriate, with the New Form of Acceptance. John Perriss, the Independent Director of Local Radio, having been so advised by Ruegg, considers the terms of the Second Revised Offer to be fair and reasonable. In providing its advice, Ruegg has taken into account his commercial assessment of the Second Revised Offer. Accordingly, John Perriss recommends that all Local Radio Shareholders accept the Second Revised Offer. UKRD has given assurances that it is making the Second Revised Offer in order to turn around Local Radio's business and to provide a viable exit route for those Local Radio Shareholders who no longer wish to invest in Local Radio. In deciding to recommend the Second Revised Offer, John Perriss has taken into account a number of factors, including: ·The Second Revised Offer provides certainty of value to Local Radio Shareholders through a cash offer. ·The Second Revised Offer provides Local Radio Shareholders with an opportunity to realise their investment for cash at a substantial premium to the pre Offer Period share price and subsequent share prices, representing: ·a premium of 300 per cent. to the Closing Price of 1 pence per Local Radio Share on AIM on 26 March 2009, being the last dealing day prior to the commencement of the Offer Period; and ·a premium of 23.10 per cent. to the Closing Price of 3.25 pence per Local Radio Share on AIM on 8 May 2009, being the last dealing day prior to the announcement of the Second Revised Offer; · Hallwood has announced that its offer of 5 pence per Local Radio Share has been withdrawn; and · UKRD has given assurances that it will make funds available as needed to meet the Local Radio Group's working capital requirements. Finally, Local Radio Shareholders' attention is drawn to paragraph 9 of Part I of the Second Revised Offer Document with regard to delisting, cancellation of trading and compulsory acquisition of Local Radio Shares and, in particular, the warning that delisting of Local Radio Shares would significantly reduce the liquidity and marketability of any Local Radio Shares not acquired under the Second Revised Offer at that time. Hallwood announced on 14 May 2009 that it is not going to accept the Second Revised Offer. If Hallwood does not accept the Second Revised Offer, UKRD will not receive, or be able to otherwise acquire, 75 per cent. or more of the voting rights of Local Radio Shares. In such circumstances, the cancellation of the admission of Local Radio Shares to trading on AIM will not occur without the consent of the London Stock Exchange. If the London Stock Exchange does not grant such consent, the Local Radio Shares held by Local Radio Shareholders who do not accept the Second Revised Offer will continue to be quoted on AIM. However, in view of UKRD's majority shareholding in the capital of Local Radio and Hallwood's significant minority shareholding, the liquidity of Local Radio Shares will be limited. Copies of the Second Revised Offer Document and the New Form of Acceptance are available for inspection during normal business hours on any weekday (UK public holidays excepted) at the offices of Charles Stanley Securities, 131 Finsbury Pavement, London EC2A 1NT throughout the period during which the Second Revised Offer remains open for acceptance. Additional New Forms of Acceptance are available from Capita Registrars, by telephoning 0871 664 0321 or +44 20 8639 3399 (if telephoning from outside the UK). A copy of the Second Revised Offer Document is also available on UKRD's website, www.ukrd.com. Terms defined in the Second Revised Offer Document have the same meaning in this announcement. For further information, please contact: +-------------------------------------------------------+---------------+ | Charles Stanley Securities (Financial Adviser to | 020 7149 6000 | | UKRD) | | +-------------------------------------------------------+---------------+ | Richard Thompson | | +-------------------------------------------------------+---------------+ | Philip Davies | | +-------------------------------------------------------+---------------+ | Carl Holmes | | +-------------------------------------------------------+---------------+ Charles Stanley Securities, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for UKRD and no one else in connection with the Second Revised Offer and will not be responsible to anyone other than UKRD for providing the protections afforded to its clients or for providing advice in relation to the Second Revised Offer, the contents of the Second Revised Offer Document or this announcement or any transaction or arrangement or other matter referred to herein. Ruegg, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Local Radio and no one else in connection with the Second Revised Offer and will not be responsible to anyone other than Local Radio for providing the protections afforded to its clients or for providing advice in relation to the Second Revised Offer, the contents of the Second Revised Offer Document or this announcement or any transaction or arrangement or other matter referred to herein. This announcement is not intended to, and does not, constitute or form any part of an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of an offer to purchase or subscribe for any securities pursuant to the Second Revised Offer or otherwise. The Second Revised Offer will be made solely through the Second Revised Offer Document and (in respect of Local Radio Shares held in certificated form) the New Form of Acceptance, which will together contain the full terms of the Second Revised Offer, including details of how to accept the Second Revised Offer. Any acceptance or other response to the Second Revised Offer should be made only on the basis of the information contained in the Second Revised Offer Document and (in respect of Local Radio Shares held in certificated form) the New Form of Acceptance. The Second Revised Offer will be subject to the applicable requirements of the City Code, the Panel, the London Stock Exchange and the Financial Services Authority. The release, publication or distribution of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are nor resident in the UK or who are subject to the laws of any jurisdiction other than the UK should inform themselves about, and observe, any applicable requirements. Any failure to comply with the applicable requirements may constitute a violation of the securities laws of any such jurisdiction. This announcement has been prepared for the purpose of complying with English law and the City Code and the information disclosed herein may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the UK. The Second Revised Offer is not being made, directly or indirectly, or by the use of the mails of, or by any means or instrumentality (including, without limitation, facsimile or other electronic transmission, telex or telephone) of inter-state or foreign commerce or any facility of, a national securities exchange of any jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction ("Restricted Jurisdiction") (including the United States, Canada, Australia or Japan), and the Second Revised Offer is not capable of acceptance by any such use, means, instrumentality or facility or from within a Restricted Jurisdiction. Accordingly, copies of the Second Revised Offer Document, the New Form of Acceptance (in respect of certificated Local Radio Shares) and this announcement are not being, and must not be, directly or indirectly, mailed, transmitted or otherwise forwarded, distributed or sent in or into or from a Restricted Jurisdiction and persons receiving such documents (including, without limitation, custodians, nominees and trustees) must not mail, transmit, or otherwise forward, distribute or send them in or into or from a Restricted Jurisdiction. This information is provided by RNS The company news service from the London Stock Exchange END ODPEANSFASPNEEE
1 Year Local Radio Chart |
1 Month Local Radio Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions