Business
Offer Update - Unconditional
Offer Update - Unconditional.
About this update from Mears Group Plc
[{"type":"text","content":"\n RNS Number : 6798F Mears Group PLC 18 January 2010 \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\n18 January 2010\nEmbargoed for release at 7.00 a.m.\n\nRecommended Offer by Mears Group PLC (\"Mears\") for the entire issued and to be issued ordinary share capital of Supporta plc (\"Supporta\")\nOffer unconditional as to acceptances\n\nOn 18 December 2009, Mears announced a recommended offer for the entire issued and to be issued share capital of Supporta. On 13 January 2010, Mears announced it had received valid acceptances in respect of a total of 50,076,086 Supporta Shares, representing approximately 57.92 per cent. of the issued share capital of Supporta. As at 4.30 p.m. (London time) on 15 January 2010, valid acceptances had been received in respect of 50,139,967 Supporta Shares, representing approximately 57.99 per cent. of the issued share capital of Supporta.\n\nMears is pleased to announce that its offer for Supporta has become unconditional as to acceptances following the reduction of the acceptance condition by Mears as set out in paragraph (a) of Part A of Part V of the Offer Document from 90 per cent. to 50 per cent. of the Supporta Shares to which the Offer relates.\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. In respect of the Supporta Shares which are the subject of irrevocable undertakings, Mears had at 4.30 p.m. (London time) on 15 January 2010 received valid acceptances of Supporta Shares subject of these irrevocables in respect of 30,128,122 Supporta Shares, representing 34.85 per cent. of the issued share capital of Supporta. \n\nMears announces that as a result of the Offer being declared unconditional as to acceptances today, its Offer, which, save as disclosed in this announcement, remains subject to the terms and the conditions set out or referred to in the Offer Document posted to Supporta Shar...