Hartford Group PLC - Offer Wholly Unconditnl, etc.
03 Septembre 1999 - 1:46PM
UK Regulatory
RNS No 9260b
HARTFORD GROUP PLC
3 September 1999
HARTFORD GROUP PLC ("HARTFORD") LEVEL OF ACCEPTANCE OF THE
RECOMMENDED SHARE OFFER ("RECOMMENDED OFFER") FOR THE ENTIRE
ISSUED ORDINARY SHARE CAPITAL OF MONTANA PLC ("MONTANA") AND
RESULT OF THE HARTFORD EGM
On 10 August 1999, Hartford Group PLC ("Hartford") announced
the terms of a proposed merger with Montana PLC, the
restaurant operator. The combined market capitalisation of
the two groups, following completion of the merger, is
expected to be approximately #30 million based on Hartford's
closing price on 2 September 1999 of 1.25p.
The board of Hartford announces that the Recommended Offer
made by Apax Partners & Co. Capital Limited, on behalf of
Hartford, for the entire issued share capital of Montana has
been declared unconditional in all respects, save in respect
of Admission, on 3 September 1999. The Offer will remain
open for acceptance until further notice.
By 3.00 p.m. London time on 2 September 1999, Hartford had
received valid acceptances from the holders of 3,560,438
Montana Shares (representing approximately 88.34 per cent.
of the existing issued share capital of Montana). Terms
defined in the original offer document have the same meaning
in this press release unless the context requires otherwise.
The total number of acceptances received includes
acceptances in respect of 2,240,649 of a total of 2,275,649
Montana Shares (representing 55.59 per cent. of the existing
issued share capital of Montana), which were the subject of
irrevocable undertakings to accept the Offer from the
directors of Montana and certain individuals and
institutions.
Prior to the commencement of the Offer Period on 5 July
1999, save as disclosed in the offer document, neither
Hartford nor any person acting in concert with it owned any
Montana Shares (or rights over such shares) nor since that
date (other than as disclosed above) has Hartford or any
person acting in concert with it acquired or agreed to
acquire any Montana Shares (or rights over such shares).
The merger is conditional on the approval of, inter alia,
the transaction by Hartford shareholders in general meeting.
The special resolution set out in the notice of EGM
approving, inter alia, the merger was passed by Hartford
shareholders at the extraordinary general meeting which took
place at 10.00am today.
This announcement, which is the sole responsibility of
Hartford, has been approved by Apax Partners & Co. Capital
Limited solely for the purpose of Section 57 of the
Financial Services Act 1986.
Apax Partners & Co. Capital Limited which is regulated by
The Securities and Futures Authority Limited, is acting for
Hartford and no-one else in connection with the Offer and
will not be responsible for anyone other than Hartford for
providing the protections afforded to its customers nor for
providing advice in relation to the Offer.
Enquires:
Hartford Group PLC
Matthew Freud 0171 291 6400
Apax Partners & Co. Capital Limited
Richard Hughes 0161 831 9133
END
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