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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Umbro | LSE:UMB | London | Ordinary Share | GB00B011MX85 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 192.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0541P Umbro PLC 29 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 29 February 2008 Umbro plc ("Umbro") Recommended cash acquisition of Umbro plc by NIKE Vapor Ltd. ("Nike Vapor", a wholly-owned subsidiary of NIKE, Inc.) Court order confirming Reduction of Capital Effective Date of scheme of arrangement Cancellation of listing of Shares The board of Umbro is pleased to announce that the High Court of Justice has today made an order confirming the Reduction of Capital as part of the scheme of arrangement under section 425 of the Companies Act 1985 (and section 899 of the Companies Act 2006) to effect the recommended cash acquisition by Nike Vapor of the entire issued and to be issued share capital of Umbro (the "Scheme") on the terms set out in a circular Umbro sent to its shareholders on 23 November 2007 (the "Scheme Document"). The Scheme will become effective on registration of the Court order by the Registrar of Companies. A copy of the Court order confirming the Reduction of Capital will be delivered to the Registrar of Companies on 3 March 2008 and accordingly, the Scheme is expected to become effective at this time. Umbro has written to the United Kingdom Listing Authority to request that the listing of the Shares on the Official List be cancelled and to the London Stock Exchange to request that the Shares cease to be admitted to trading on the London Stock Exchange's main market for listed securities, in each case with effect from 8.00 a.m. on 4 March 2008. The Shares were suspended from listing on the Official List and from trading on London Stock Exchange's main market for listed securities, in each case at or about 7.30 a.m. today. Once the Scheme has become effective, the cash consideration will be despatched no later than 17 March 2008. Capitalised terms used (but not defined) in this announcement have the same meanings as in the Scheme Document unless the context requires otherwise. All times referred to in this announcement are references to London time. Enquiries: NIKE, INC. Nigel Powell, Vice President of Global Telephone: +1 503 671 6758 Communications Charlie Brooks, UK Head of Corporate Telephone: +44 20 7432 6390 or Communications +44 77 1472 4995 Massimo Giunco, EMEA Head of Corporate Telephone: +31 35 626 6980 or Communications +31 64 6372 512 Alan Marks, Global Director of Media Telephone: +1 503 671 2673 Relations Pamela Catlett, Vice President, Investor Telephone: +1 503 671 4589 Relations MERRILL LYNCH (Financial Adviser and Corporate Broker to Nike and Nike Vapor) UK Telephone: +44 20 7628 1000 Kevin J. Smith Andrew Osborne (Corporate Broking) US Telephone: +1 212 449 1000 Lisa Clyde Alan Goodstadt Citigate Dewe Rogerson Telephone: +44 20 7638 9571 (PR Adviser to Nike) Patrick Donovan Simon Rigby UMBRO PLC Steve Makin, CEO Telephone: +44 161 492 2000 JPMorgan Cazenove Telephone: +44 20 7588 2828 (Financial Adviser to Umbro) Luke Bordewich Brunswick Telephone: +44 20 7404 5959 (PR Adviser to Umbro) Simon Sporborg Dominic McMullan This announcement is not intended to and does not constitute or form any part of an offer or invitation to sell or subscribe for or purchase any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Transaction or otherwise. The Transaction will be effected solely through the Scheme Document, which contains the full terms and conditions of the Transaction. Merrill Lynch is acting exclusively for Nike and Nike Vapor and no-one else in connection with the Transaction and will not be responsible to anyone other than Nike and Nike Vapor for providing the protections afforded to clients of Merrill Lynch or for providing advice in relation to the Transaction or any other matters referred to in this announcement. JPMorgan Cazenove is acting exclusively for Umbro and no-one else in connection with the Transaction and will not be responsible to anyone other than Umbro for providing the protections afforded to clients of JPMorgan Cazenove or for providing advice in relation to the Transaction or any other matters referred to in this announcement. The distribution of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about, and observe, any applicable requirements. This announcement has been prepared for the purpose of complying with English law and the 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 of jurisdictions outside the UK. This information is provided by RNS The company news service from the London Stock Exchange END MSCEAFANAFNPEFE
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