Business
Offer Document Posted
Offer Document Posted.
About this update from Coats Group Plc
[{"type":"text","content":"\n Guinness Peat Group PLC\n07 December 2007\n\n\n Not for release, publication or distribution, in whole or in part, in, into or\n from the US, Canada or Australia or any jurisdiction where to do so would\n constitute a violation of the laws of such jurisdiction.\n\n\n Cash Offer\n\n\n By\n\n Strand Partners Limited\n\n on behalf of\n\n GPG Acquisitions No. 5 Limited\n\n (a wholly owned subsidiary of Guinness Peat Group plc)\n\n for\n\n the entire issued and to be issued ordinary share capital of\n\n NEWBURY RACECOURSE PLC\n\n7 December 2007\n\nGPG Acquisitions No. 5 Limited (\"GPG Acquisitions\") announces that, following\nthe announcement on 14 November 2007 of its all cash offer of £11 per Newbury\nRacecourse Share (the \"Offer\") for the entire issued and to be issued ordinary\nshare capital of Newbury Racecourse, Strand Partners Limited acting on GPG\nAcquisition's behalf has today posted an Offer Document formally making the\nOffer to the Newbury Racecourse Shareholders (the \"Offer Document\").\n\nThe following is the text of the letter (the \"Chairman's Letter\") incorporated\nin the Offer Document that has been sent to holders of ordinary shares of 10p\neach in Newbury Racecourse (\"Newbury Racecourse Shares\") today together with the\nOffer Document and the form of acceptance relating to the Offer (the \"Form of\nAcceptance\").\n\n\"7 December 2007\n\nDear Shareholder\n\nCash offer by Strand Partners Limited on behalf of GPG Acquisitions No. 5\nLimited for the entire issued and to be issued ordinary share capital of Newbury\nRacecourse PLC\n\nIntroduction\n\nOn 14 November 2007, Strand Partners announced a formal cash offer on our behalf\nfor your Newbury Racecourse Shares. This letter sets out the background to and\nreasons for the Offer and explains why the GPG Acquisitions Board and the\ndirectors of GPG plc believe that you should accept the Offer.\n\nThe Offer\n\nThe Offer, which is being made on the terms and subject to the conditions set\nout in the accompanying letter from Strand Partners and in Appendix I to this\ndocument, is made on the following basis:\n\n for each Newbury Racecourse Share £11 in cash\n\nThe Offer Price exceeds the highest Closing Price of Newbury Racecourse Shares\nsince dealings commenced on the PLUS market in 1995 and represents a premium of\napproximately 11.68 per cent. to the Closi...