Topps Tiles PLC
08 August 2006
8 August 2006
Topps Tiles plc
Return of Cash
Purchase Offer for C Shares
This document should not be transmitted, distributed or released in or into any
jurisdiction in which such an act would constitute a violation of the relevant
laws of such jurisdiction.
KBC Peel Hunt Ltd has agreed to make the Purchase Offer as referred to in the
circular from Topps Tiles plc (the 'Company') to its shareholders dated 7 July
2006 (the 'Circular').
KBC Peel Hunt Ltd hereby makes the Purchase Offer, acting as principal, to
purchase the 84,213,625 C Shares which have been allotted to Shareholders
pursuant to the Return of Cash as a result of the scaling back of elections for
B Shares under Alternative 3, in respect of which valid acceptances of the
Purchase Offer have been received and not withdrawn. The offer is to purchase C
Shares for 54 pence each on the terms set out in the Circular.
Cheques and sale advices are expected to be despatched and assured payments made
through CREST on 14 August 2006 in respect of C Shares purchased under the
Purchase Offer.
The Board of Directors of the Company is also pleased to announce that it has
declared the Single C Share Dividend of 54 pence per C Share payable to those
Shareholders who have, or who are deemed to have, elected to receive the Single
C Share Dividend. Settlement of the Single C Share Dividend for Shareholders is
expected to be made on 14 August 2006.
US Holders are deemed to have elected for Alternative 1 in respect of all of
their Existing Ordinary Shares.
Expected timetable of outstanding principal events:
B Shares redeemed 14 August 2006
Cheques issued/CREST accounts credited in respect of the Single 14 August 2006
C Share Dividend, the redemption of the B Shares and fractional
entitlements, together with tax vouchers
Cheques issued/CREST accounts credited in respect of the 14 August 2006
purchase of C Shares by KBC Peel Hunt
CREST accounts credited in respect of C Shares retained 14 August 2006
Despatch of New Ordinary Share certificates and retained C Share 14 August 2006
certificates
Definitions used in the Circular apply to this announcement.
Enquiries:
Barry Bester - Chairman 01625 446 700
Nicholas Ounstead - CEO 01625 446 700
Sarah Landgrebe
Bell Pottinger Corporate & Financial 020 7861 3232
Megan MacIntyre
KBC Peel Hunt Ltd 020 7418 8900
KBC Peel Hunt Ltd, which is regulated by the Financial Services Authority for
the conduct of designated investment business in the UK, is acting for the
Company and for no one else in connection with the Return of Cash and will not
be responsible for anyone other than the Company for providing the protections
afforded to clients of KBC Peel Hunt Ltd or for providing advice in relation to
the Return of Cash.
This information is provided by RNS
The company news service from the London Stock Exchange