Manroy PLC Offer unconditional in all respects (1624L)

TIDMMAN

RNS Number : 1624L

Manroy PLC

02 July 2014

2 July 2014

Manroy Plc

Offer unconditional in all respects

On 28 March 2014, the Boards of FN Herstal SA ("Herstal") and Manroy Plc ("Manroy") announced that they had reached agreement on the terms of a recommended cash offer to be made by Herstal for the entire issued and to be issued share capital of Manroy (the "Offer"). The full terms and conditions of the Offer, together with the procedures for acceptance of the Offer, are set out in the offer document which was issued by Herstal on 25 April 2014 (the "Offer Document").

Offer unconditional in all respects

On 19 May 2014, Herstal announced that the Offer had become unconditional as to acceptances. However, the Offer remained subject to the Conditions set out in the Offer Document. In particular, the Offer remained subject to the condition set out in paragraph 1(b) of Appendix 1, Part A of the Offer Document, which stated that the Offer was conditional on the Competition and Markets Authority (the "CMA") indicating in terms satisfactory to Herstal that it did not intend to make a Phase 2 CMA reference of the proposed acquisition of Manroy by Herstal.

On 1 July 2014, the CMA indicated that it would not be making a Phase 2 CMA reference. Therefore the condition relating to the CMA, as summarised above, has now been satisfied. All other Conditions to the Offer have either been satisfied or waived and Herstal has announced that the Offer has become unconditional in all respects.

Offer extension

The Offer has been extended and will remain open for acceptance until further notice.

Delisting and cancellation of trading

As set out in the Offer Document, as the Offer has become unconditional in all respects and Herstal has received valid acceptances under the Offer in respect of more than 75 per cent. of the voting rights of Manroy, Manroy has applied to the London Stock Exchange for the cancellation of the admission of the Manroy Shares to trading on AIM.

The cancellation of the admission to trading on AIM of the Manroy Shares is expected to take effect on 30 July 2014, being 20 Business Days from the date of this announcement.

Such cancellation of the admission to trading on AIM of the Manroy Shares will significantly reduce the liquidity and marketability of any Manroy Shares not assented to the Offer.

Further details are contained in Herstal's announcement made earlier this morning.

For further information please contact:

Manroy Plc Tel: [phone]

Glyn Bottomley, Chief Executive

Paul Carter, Finance Director

Allenby Capital Tel: [phone]

Alex Price

Michael McNeilly

 
 Opus Corporate Finance LLP, financial   Tel: [phone] 
 and Rule 3 adviser to Manroy 
  Malcolm Strang 
 John McElroy 
 
 

Bankside Consultants Tel: [phone]/

Richard Pearson 07703 167065

Simon Rothschild

This information is provided by RNS

The company news service from the London Stock Exchange

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