D.F.S. Furniture Company PLC
27 September 2004
INCREASED OFFER UPDATE
DFS Furniture Company plc
FOR IMMEDIATE RELEASE
27 September 2004
DFS Furniture Company plc
Results of Court Meeting and EGM
Shareholders have today voted in favour of the resolutions proposed at the Court
Meeting and the DFS EGM relating to the proposed acquisition of DFS by Full
Circle Future Limited by way of a Scheme of Arrangement.
At the Court Meeting, 943 shareholders representing 65,737,616 shares
(approximately 80.0 per cent. of the total number of votes cast) voted in favour
of the Scheme and 239 shareholders representing 16,464,909 shares (approximately
20.0 per cent. of the total number of votes cast) voted against.
At the DFS EGM, 75,155,850 shares (approximately 79.7 per cent.) were voted in
favour of the Special Resolution and 19,186,331 shares (approximately 20.3 per
cent.) were voted against.
The Initial Hearing Date to sanction the Scheme is expected to take place on 27
October 2004, and the Final Hearing Date to confirm the reduction of DFS's share
capital is expected to take place on 1 November 2004. Subject to the Scheme
receiving the sanction and confirmation of the Court on these dates, the
effective date of the Scheme is expected to be 2 November 2004 and consideration
due to shareholders is expected to be settled by 16 November 2004.
Expected timetable of principal events:
Last day of dealing in DFS Shares 26 October 2004 *
Initial Hearing Date (to sanction the Scheme) 27 October 2004 *
Reclassification Record Time 5.30 p.m. on 29 October 2004 *
Scheme Record Time 6.00 p.m. on 29 October 2004 *
Latest time for lodging green Form of Election 3:00 p.m. on 30 October 2004
Final Hearing Date (to confirm the Capital 1 November 2004 *
Reduction)
Effective Date of the Scheme 2 November 2004 *
Delisting of DFS Shares 3 November 2004 *
Latest date for despatch of cheques and the PE 16 November 2004 *
Certificates evidencing the Primback Entitlement
Units
* These dates are indicative only and will depend, amongst other things, on the
dates upon which the Court sanctions the Scheme and the associated Capital
Reduction and whether the Conditions are either satisfied or waived.
Copies of the resolutions have been submitted to the UK Listing Authority and
will shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility that is situated at:
The Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Enquiries:
Full Circle
Tel: 01302 330 365
Graham Kirkham
Jon Massey
Hawkpoint (Joint financial adviser to Full Circle)
Tel: 020 7665 4500
Paul Baines
Ben Mingay
Nomura (Joint financial adviser to Full Circle)
Tel: 020 7521 2000
Gary Wilder
Jagdeep Kapoor
Teather & Greenwood (Broker to Full Circle)
Tel: 020 7426 9000
Christopher Hardie
Adam Pollock (Sales)
Tulchan Communications (PR adviser to Full Circle)
Tel: 020 7353 4200
Andrew Grant
Kirstie Hamilton
Jacobs Capital (Adviser to Full Circle)
Tel: 07770 496209
Alan Jacobs
Citigroup (Financial Adviser to DFS)
Tel: 020 7986 4000
William Barter
Mark Todd
Deutsche Bank (Broker to DFS)
Tel: 020 7545 8000
Charles Wilkinson
Rupert Green
Hudson Sandler (PR adviser to DFS)
Tel: 020 7796 4133
Alistair Mackinnon-Musson
Philip Dennis
keithhann.com (PR adviser to DFS)
Tel: 07831 521870
Keith Hann
Hawkpoint, Nomura and Teather & Greenwood, each of which is authorised and
regulated in the United Kingdom by the Financial Services Authority, are acting
exclusively for Full Circle and no one else in connection with the Scheme and
will not be responsible to anyone other than Full Circle for providing the
protections afforded to their respective clients or for providing advice in
relation to the Scheme or in relation to the contents of this announcement or
any transaction or arrangement referred to herein.
Citigroup and Deutsche Bank, each of which is authorised and regulated in the
United Kingdom by the Financial Services Authority, are acting exclusively for
DFS and no one else in connection with the Scheme and will not be responsible to
anyone other than DFS for providing the protections afforded to their respective
clients or for providing advice in relation to the Scheme or in relation to the
contents of this announcement or any transaction or arrangement referred to
herein.
The Independent Directors of DFS accept responsibility for the information
contained in this announcement and, to the best of their knowledge and belief
(having taken all reasonable care to ensure that such is the case), the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.
Any term used but not defined in this announcement is as defined in the scheme
document sent to shareholders on 14 August 2004 and the supplemental scheme
circular sent to shareholders on 10 September 2004. All times referred to are
London times unless otherwise stated.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange