Business
Offer Update
Offer Update.
About this update from Mears Group Plc
[{"type":"text","content":"\n RNS Number : 9199G Mears Group PLC 10 February 2010 \n \n\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n10 February 2010\nEmbargoed for release at 7.00 am\nRecommended Offer by Mears Group PLC (\"Mears\") for the entire issued and to be issued ordinary share capital of Supporta plc (\"Supporta\")\nValid acceptances received in respect of approximately 94.6 per cent of Supporta's issued share capital\n \nOn 18 December 2009, Mears announced a recommended offer for the entire issued and to be issued share capital of Supporta. On 27 January 2010, Mears announced the offer was wholly unconditional.\n \nToday, Mears announce that as of 2.00 p.m. (London time) on 9 February 2010, the Revised Second Closing Date, it has received valid acceptances in relation to 81,789,849 Supporta Shares, representing approximately 94.6 per cent of the ordinary issued share capital of Supporta. The Offer is not being extended.\n \nPrior to making the Offer, Mears obtained irrevocable undertakings to accept, or procure the acceptance of, the Offer from certain Supporta Shareholders in respect of 30,128,122 Supporta Shares, representing in aggregate approximately 34.85 per cent. of the issued share capital of Supporta. Mears has received valid acceptances in relation to all Supporta Shares subject to these irrevocables. \n \nAs valid acceptances in connection with the Offer, made by Mears, have been received in respect of more than 90 per cent. in value of the Supporta Shares to which the Offer relates and in respect of more than 90 per cent. of the voting rights carried by all of the Supporta Shares to which the Offer relates, Mears will shortly send notices to non-assenting Supporta Shareholders implementing the procedures set out in Chapter 3 of Part 28 of the Companies Act 2006 to compulsorily acquire those Supporta Shares which have not been assented to the Offer.\n \nCancellation of trading in Supporta Shares\n \nAs previously stated, now that the Offer has been declared unconditional in all respects and the acceptance level is over 90 per cent., Mears has requested Supporta to make an application to the London Stock Exchange for ...