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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Real Hotel Grp | LSE:RHG | London | Ordinary Share | GB00B3D2NR11 | 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% | 1.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
RNS Number:9445T James Reed & Partners PLC 10 November 2005 This announcement is not for release, publication or distribution in or into or from the United States, Canada, Australia, Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction. For immediate release 10 November 2005 Cash Offers by Altium Capital Limited on behalf of James Reed & Partners plc for Reed Health Group plc POSTING OF OFFER DOCUMENT James Reed & Partners plc ("James Reed & Partners") announces that the document (the "Offer Document") containing the full terms and conditions of the offers (the "Offers"), being made by Altium Capital Limited on its behalf, to acquire the whole of the issued and to be issued share capital of Reed Health Group plc ("Reed Health"), is being posted to Reed Health Shareholders today, together with the Forms of Acceptance. The Offers are being made on the following basis: for each Reed Health Ordinary Share 55p in cash for each Reed Health "B" Share 55p in cash A Loan Note Alternative is being made available. The Offers value the existing issued share capital of Reed Health at approximately #32.8 million and represent: * a premium of approximately 50.7 per cent. to the Closing Price of 36.5p per Reed Health Ordinary Share on 7 November 2005, being the last business day prior to the date of the announcement of the Offers; and * a premium of approximately 30.3 per cent. to the average Closing Price of 42.2p per Reed Health Ordinary Share for the six month period ending 7 November 2005, being the last business day prior to the date of the announcement of the Offers. James Reed & Partners has received irrevocable undertakings to accept the Offers in respect of 8,091,748 Reed Health Ordinary Shares and 26,827,500 Reed Health 'B' Shares, representing approximately 24.7 per cent. of the Reed Health Ordinary Shares and approximately 99.9 per cent. of the Reed Health 'B' Shares, respectively, which together represent approximately 58.5 per cent. of the entire issued share capital and voting rights of Reed Health. In addition, since the announcement of the Offers, James Reed & Partners has announced that it has purchased a total of 4,472,304 Reed Health Ordinary Shares, representing approximately 13.6 per cent. of the Reed Health Ordinary Shares and approximately 7.5 per cent. of the entire issued share capital and voting rights of Reed Health. James Reed & Partners, therefore, either owns, or has received irrevocable undertakings to accept the Offers in respect of, 12,564,052 Reed Health Ordinary Shares and 26,827,500 Reed Health 'B' Shares, representing approximately 38.3 per cent. of the Reed Health Ordinary Shares and approximately 99.9 per cent. of the Reed Health 'B' Shares, respectively, which together represent approximately 66.0 per cent. of the entire issued share capital and voting rights of Reed Health. James Reed & Partners believes that the Offers provide Reed Health Shareholders with the opportunity to realise a premium valuation in cash now and encourages Reed Health Shareholders to accept the Offers. Acceptances of the Offers should be received as soon as possible following receipt of the Offer Document and, in any event, by no later than 3.00 pm on 1 December 2005. Enquiries: James Reed & Partners plc James Reed / Derek Beal Tel: 020 7616 2301 Altium Capital Limited Garry Levin / Tim Richardson / Marc Milmo Tel: 020 7484 4040 Smithfield Consultants Katie Hunt / Reg Hoare Tel: 07884 494112 / 07831 406117 This announcement should be read in conjunction with, and is subject to, the full terms and conditions set out in the Offer Document and the Forms of Acceptance. Terms used in this announcement shall have the same meaning as those in the Offer Document. The directors of James Reed & Partners (the "Directors") accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case), the information contained herein is in accordance with the facts and does not omit anything likely to affect the import of such information. This announcement does not constitute an offer to sell or an invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction. The Offers are being made solely by the Offer Document and the Forms of Acceptance, which contain the full terms and conditions of the Offers (including details of how they may be accepted). The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in any such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe any applicable requirements. The Offers (including the Loan Note Alternative) will not be made, directly or indirectly, in, into or from the United States, or by use of the United States mails, or by any means or instrumentality (including, without limitation, facsimile transmission, telex, telephone or e-mail) of United States interstate or foreign commerce, or any facility of a national securities exchange of the United States, Canada, Australia or Japan. Accordingly, this announcement, copies of this announcement and any related documents are not being and must not be mailed or otherwise distributed or sent in, into or from the United States, Canada, Australia or Japan and persons receiving this announcement and any related documents (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in, into or from the United States, Canada, Australia or Japan. All Reed Health Shareholders (including nominees, trustees or custodians) who would, or otherwise intend to forward this announcement, should inform themselves about and observe any applicable requirement. Altium Capital Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for James Reed & Partners as financial adviser within the meaning of the Rules of the Financial Services Authority and for no one else in connection with the Offers. Altium Capital Limited is not advising any other person or treating any other person as its client in relation thereto and will not be responsible to anyone other than James Reed & Partners for providing the protections afforded to clients of Altium Capital Limited, or for giving advice to any other person in relation to the Offers, the contents of this announcement or any other matter referred to herein. This information is provided by RNS The company news service from the London Stock Exchange END ODPEAFFEFSFSFFE
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