Business
Offer Update
Offer Update.
About this update from Smiths News Plc
[{"type":"text","content":"\n \nRNS Number : 8282M Smiths News PLC 23 August 2011 \n \n\nNOT 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\nIf you are in any doubt about the Offers or the action you should take, you are recommended immediately to seek your own financial advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser.\n23 August 2011\n \nRECOMMENDED CASH OFFERS\nBY\nSMITHS NEWS PLC\nFOR\nDAWSON HOLDINGS PLC\n \nOffers Declared Wholly Unconditional\n \nOn 7 June 2011, the boards of directors of Smiths News PLC (\"Smiths News\") and Dawson Holdings PLC (\"Dawson\") announced the terms of recommended cash offers for the entire issued and to be issued share capital of Dawson to be made by Smiths News.\n \nOn 17 August 2011, Smiths News announced that the Ordinary Offer was unconditional as to acceptances.\n \nSmiths News is pleased to announce that as at 3.00 p.m. (London time) on 22 August 2011, Smiths News had received valid acceptances in respect of 25,623,586 Dawson B Ordinary Shares representing 100 per cent. of the Dawson B Ordinary Shares to which the B Ordinary Offer relates and accordingly the B Ordinary Offer became unconditional as to acceptances. This comprises acceptances received from the PPF which were subject to an irrevocable commitment procured by Smiths News.\n \nSmiths News further announces that all conditions to the Offers have either been satisfied or waived and that the Offers are hereby declared unconditional in all respects. The Ordinary Offer will remain open for acceptance until further notice and at least 14 days' notice will be given before the Ordinary Offer is closed. As the only holder of B Ordinary Shares has accepted the B Ordinary Offer, that offer is now closed.\n \nAcceptance levels\n \nAs at 3.00 p.m. (London time) on 22 August 2011, Smiths News had received valid acceptances from Dawson Shareholders in respect of a total of 65,504,962 Dawson Ordinary Shares, representing approximately 91.26 per cent....