Result of Tender Offer
09 Aprile 2003 - 10:00AM
UK Regulatory
RNS Number:8015J
Westside Acquisitions PLC
09 April 2003
Westside Acquisitions plc
("Westside" or "the Company")
Result of Tender Offers
On 18 March 2003, the Company announced that Seymour Pierce Limited was offering
to acquire by tender up to 32,467,723 ordinary shares of 1p each in the capital
of the Company at 3p per share and up to 3,501,893 warrants of the Company at
0.5p per warrant. The tender offers closed on Tuesday, 8 April 2003 and the
Company announces that valid tenders have been received in respect of 13,085,898
ordinary shares and 1,731,000 warrants.
The tender offers remain conditional, inter alia, on Westside shareholder
approval at the Westside shareholder's extraordinary general meeting to be held
on 10 April 2003, on Westside warrantholder approval at the Westside
warrantholder general meeting to be held on 10 April 2003 and approval at a High
Court hearing to be held on 21 May 2003 of the cancellation of the Company's
share premium account by cancelling #4,443,200 of the amount standing to the
credit of such account. Subject to the tender offers becoming unconditional in
all respects, all valid tenders received will be accepted in full by Seymour
Pierce Limited who will purchase on-market, free of expenses, 13,085,898
ordinary shares tendered, at 3p per share, and 1,731,000 warrants tendered, at
0.5p per warrant. These shares and warrants will then be purchased on-market by
the Company at 3p per share and at 0.5p per warrant.
Settlement of the consideration to which any shareholder and/or warrantholder is
entitled pursuant to valid tenders will be made by Thursday 29 May 2003. The
aggregate consideration payable to shareholders and warrantholders validly
accepting the tender offer is #401,231.94.
Enquiries:
Westside Acquisitions plc David Meddings Tel: 020 7644 8956
David Coldbeck Tel: 01344 311 727
Hugo de Salis St Brides Media Tel: 020 7242 4477
Seymour Pierce Ltd Mark Percy Tel: 020 7648 8700
Ewan Leggat
This information is provided by RNS
The company news service from the London Stock Exchange
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