Dekel Agri Regulatory News (DKL)

11 Apr 2006 07:00

European Tobacco Development S.A.11 April 2006 European Tobacco Development S.A.11 April 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM A US RESTRICTED JURISDICTION, CANADA, AUSTRALIA OR JAPAN RECOMMENDED MANDATORY CASH OFFER BY SOLOMON HARE CORPORATE FINANCE ON BEHALF OF EUROPEAN TOBACCO DEVELOPMENT S.A.('ETD') FOR DICKINSON LEGG GROUP PLC ('DLG') Offer update On 6 March 2006, ETD announced the terms of a recommended mandatory cash offer for the entire issued and to be issued ordinary share capital of DLG not already owned or contracted to be acquired by ETD. The Offer was unconditional in all respects from the outset. On 28 March 2006 it was announced that the Offer was extended to 1.00 pm on 10 April 2006. By 1.00pm on 10 April 2006 valid acceptances had been received in respect of a total of 11,650,753 DLG Shares, representing 32.0 per cent. of the entire issued share capital of DLG and representing 65.6 per cent. of the ordinary shares to which the Offer relates. In aggregate, ETD now owns or has received valid acceptances in respect of 30,253,130 DLG Shares representing approximately 83.2 per cent of the entire issued ordinary share capital of DLG. On 29 March 2006 ETD announced that it owned or held valid acceptances in excess of 75% of the entire issued share capital of DLG. Consequently application has been made to the London Stock Exchange for the cancellation of the admission to, and trading of, DLG Shares on AIM. Such cancellation will significantly reduce the liquidity and marketability of any DLG Shares in respect of which valid acceptances of the Offer are not received. It is expected the cancellation will take effect from 7am on 2 May 2006, with the last day of trading being 28 April 2006. The Company is further extending the Offer, which will remain open for acceptance for an additional period until 1.00 pm on 2 May 2006. DLG Shareholders who have not yet accepted the Offer and who wish to do so should complete, sign and return their Forms of Acceptance in accordance with the instructions printed thereon as soon as possible. Terms defined in the Offer Document dated 6 March 2006 shall, unless the context requires otherwise, have the same meanings in this announcement. Enquiries Solomon Hare Corporate FinanceNick Reeve, David Abbott0117 933 3344 Solomon Hare Corporate Finance, which is regulated by the Institute of Chartered Accountants in England and Wales, is acting exclusively for ETD and no one else in connection with the Offer and other matters described herein and will not be responsible to anyone other than ETD for providing the protections afforded to customers of Solomon Hare Corporate Finance or for giving advice in relation to the Offer or in relation to any other matter referred to in this Announcement. The Offer is not being made, directly or indirectly, in or into any US Restricted Jurisdiction, Canada, Australia, Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction. Accordingly, copies of this announcement are not being, and must not be, mailed or otherwise distributed or sent in or into or from any US Restricted Jurisdiction, Canada, Australia, Japan or any other such jurisdiction. ETD is a subsidiary of Garbuio, an Italian registered company. The Garbuio Directors accept responsibility for the information contained in this announcement. 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. This information is provided by RNS The company news service from the London Stock Exchange