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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Netstore | LSE:NES | London | Ordinary Share | GB0004123609 | ORD 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 31.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 9447E NetStore PLC 02 October 2008 Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where it would be unlawful to do so. FOR IMMEDIATE RELEASE 2 October 2008 RECOMMENDED CASH ACQUISITION OF NETSTORE PLC BY 2E2 LIMITED Reduction of Capital confirmed by Court On 12 August 2008, the Company announced agreement on the terms of a recommended acquisition by 2e2 Limited ("2e2") of the entire issued and to be issued share capital of Netstore plc ("Company" or "Netstore") to be effected by way of a Court-sanctioned scheme of arrangement under section 899 of the Companies Act 2006 (involving a reduction of capital under the Companies Act 1985). The Scheme Document, containing the terms and conditions of the Acquisition and further information on the Acquisition, was posted to holders of Netstore Shares on 19 August 2008. Terms defined in this announcement have the same meanings as in the Scheme Document unless the context requires otherwise. On 11 September 2008, the Company announced that the resolution approving the Scheme was passed by a majority in number of shareholders present (in person or by proxy) representing 79.57 per cent. of the issued Scheme Shares. The Company also announced on 11 September 2008 that certain other resolutions concerning the implementation of the Scheme were passed at the Netstore General Meeting held on the same day. On 1 October 2008 the Company announced the Court had sanctioned the Scheme at the Scheme Court Hearing on that same day. Today, at the Reduction Court Hearing required to effect the Scheme, the Court confirmed the Reduction of Capital and the Reduction Court Order made at the Reduction Court Hearing will be delivered to the Registrar of Companies in England and Wales on 3 October 2008. As previously announced, upon registration of the Reduction Court Order by the Registrar of Companies in England and Wales the Scheme will become effective and the Company will be re-registered as a private limited company. The trading on AIM of Netstore Shares will be cancelled with effect from 8.00 a.m. on 3 October 2008. Accordingly, the Scheme Effective Date will be 3 October 2008. Enquiries: 2e2 Terry Burt +44 (0) 1635 568000 Nick Grossman Dresdner Kleinwort (financial adviser to 2e2) Simon Russell +44 (0) 20 7623 8000 Ben Bailey Netstore Graham Kingsmill +44 (0) 870 300 6600 Paul Barry-Walsh Cenkos (financial adviser to Netstore) Beth McKiernan +44 (0) 20 7397 8900 Buchanan Communications (PR adviser to Netstore) Charles Ryland +44 (0) 20 7466 5000 Jeremy Garcia Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in one per cent. or more of any class of "relevant securities" of Netstore, all "dealings" in any "relevant securities" of Netstore (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the Scheme becomes effective, lapses or is otherwise withdrawn or if made by an offer until the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn, or in any case on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Netstore, they will be deemed to be a single person for the purpose of Rule 8.3 of the Code. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Netstore by 2e2 or Netstore, or by any of their respective "associates", must be disclosed by no later than 12 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock Exchange END MSCUUOARWRRRRAA
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