Result of Tender Offer


 

TIDMCWP 
 
RNS Number : 4531F 
Clipper Windpower Plc 
13 January 2010 
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO 
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT 
LAWS OF SUCH JURISDICTION. 
 
 
13 January 2010 
 
 
UNITED TECHNOLOGIES CORPORATION 
ANNOUNCEMENT OF RESULTS OF PARTIAL CASH OFFER FOR UP TO 21,804,559 SHARES 
 
 IN CLIPPER WINDPOWER PLC 
 
 
On 10 December 2009, United Technologies Corporation ("UTC") made a partial cash 
offer to existing shareholders in Clipper Windpower Plc ("Clipper") to purchase 
up to 21,804,559 Shares (the "Target Number") in Clipper for GBP1.80 per Share 
(the "Partial Cash Offer"). The Partial Cash Offer was made in addition to UTC's 
subscription for 84,337,124 new Shares in Clipper (the "Subscription"). 
 
 
UTC and Clipper are pleased to announce that the Partial Cash Offer has been 
oversubscribed and that, as at 5.00am on 12 January 2010 (the time at which the 
Partial Cash Offer closed), UTC had received valid tenders under the terms of 
the Partial Cash Offer in respect of a total of 47,080,867 Shares. 
 
 
Accordingly, the number of Shares which are acquired from each shareholder who 
has validly tendered Shares in the Partial Cash Offer will be scaled back pro 
rata with reference to the total number of Shares tendered, so as to ensure that 
the total number of Shares purchased by UTC pursuant to the terms of the Partial 
Cash Offer is the Target Number. As a result of rounding any fractions, UTC will 
acquire 21,804,550 Shares under the Partial Cash Offer. 
 
 
In accordance with the terms of the Partial Cash Offer, consideration will be 
despatched to shareholders who have validly tendered Shares on or around 15 
January 2010. Balance Share certificates in respect of retained shareholdings or 
unsuccessful partial tenders of Shares will be despatched to shareholders on or 
around 26 January 2010. 
 
 
The Shares acquired by UTC pursuant the Partial Cash Offer and the Subscription 
will represent approximately 49.5% of the issued share capital of Clipper. 
 
 
In this announcement, "Shares" means ordinary shares of 10 pence each in Clipper 
Windpower Plc. 
 
 
Enquiries: 
 
 
+-----------------------------------------------------------------+ 
| United Technologies Corporation                                 | 
| John Moran (UTC Communications)Tel: +1 (860) 728 7062           | 
+-----------------------------------------------------------------+ 
|                                                                 | 
+-----------------------------------------------------------------+ 
| Clipper Windpower Plc                                           | 
| Jenny Matthews (Investor Relations Director)    Tel: +44 (0)20  | 
| 7820 1078                                                       | 
+-----------------------------------------------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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