07 Jun 1999
The board of Fairey announces that it has received acceptances under the Offer, or has acquired, a total of 5,181,561 Servomex Shares representing approximately 50.1 per cent. of the issued ordinary share capital of Servomex.
During the Offer Period, Fairey received irrevocable undertakings to accept the Offer in respect of 2,069,098 Servomex Shares, representing approximately 20.0 per cent. of Servomex’s issued ordinary share capital. As at 4 June,1999, Fairey had received valid acceptances under the Offer for 2,908,411 Servomex Shares, representing approximately 28.1 per cent. of the issued ordinary share capital of the Company. Included in this level of acceptances are those received pursuant to irrevocable undertakings from certain Servomex Shareholders, in respect of 2,019,098 shares, representing approximately 19.5 per cent. of the issued ordinary share capital of the Company.
In addition, on 12 May, 1999, Fairey acquired 2,273,150 Servomex Shares representing approximately 22.0 per cent. of the issued ordinary share capital of the Company.
The first closing date of the Offer is 3.00 pm on 10 June, 1999. It is expected that both the Partial Share Alternative and the Additional Share Election will be closed on that date in accordance with the terms of the Offer. Servomex Shareholders who want to elect for the Share Elections who have not yet accepted the Offer are reminded to complete and return their Forms of Acceptance as soon as possible, and in any event so as to be received by 3.00 pm on 10 June, 1999. Those Servomex Shareholders who do not wish to elect for the Share Elections who have not yet accepted the Offer are also reminded to complete and return their Forms of Acceptance as soon as possible, and in any event so as to be received by 3.00 pm on 10 June, 1999.
Save as disclosed above, neither Fairey nor any person acting or deemed to be acting in concert with Fairey for the purposes of the Offer held, prior to the commencement of the Offer Period, any shares in Servomex (or rights over such shares) or have acquired or agreed to acquire any shares in Servomex (or rights over such shares) during the Offer Period (other than pursuant to the Offer) and no other acceptances have been received from any persons acting or deemed to be acting in concert with Fairey for the purpose of the Offer.
Words and expressions defined in the Offer Document dated 20 May, 1999 shall, unless the context otherwise requires, have the same meanings when used in this announcement.
PRESS ENQUIRIES
For further information contact:
Fairey
John Poulter – Chief Executive 01784 470 470
Close Brothers (for Fairey)
Tom Quigley – Director 0171 426 4000
Servomex
Terry Clements – Chairman 01892 603 203
Schroders (for Servomex)
Julian Tunnicliffe – Director 0171 658 6000
Close Brothers, which is regulated in the UK by The Securities and Futures Authority Limited, is acting for Fairey and no one else in connection with the Offer and will not be responsible to anyone other than Fairey for providing the protections afforded to customers of Close Brothers or for giving advice in relation to the Offer.
Schroders, which is regulated in the UK by The Securities and Futures Authority Limited, is acting for Servomex and no one else in connection with the Offer and will not be responsible to anyone other than Servomex for providing the protections afforded to customers of Schroders or for giving advice in relation to the Offer.
The Offer is not being made, directly or indirectly, in or into, or by the use of the mails or by any other means or instrumentality (including, without limitation, facsimile transmission, telex and telephone) of interstate or foreign commerce of, or any facilities of a national securities exchange of, the United States of America, its possessions or territories or any area subject to its jurisdiction or any political subdivision thereof, nor is it being made in or into Canada, Australia, or Japan. Accordingly, copies of this announcement are not being, and must not be, mailed, otherwise distributed or sent in or into or from the United States of America, Canada, Australia, or Japan and persons receiving this announcement, including custodians, nominees and trustees, must not distribute or send it in or into or from the United States of America, Canada, Australia, or Japan. Doing so may invalidate any purported acceptance.
The directors of Fairey accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Fairey (who have 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.
