Arena notes the announcement earlier today by the Office of Fair Trad ing confirming that it does not propose to refer the proposed acquisition of Arena by Aldersgate to the Competition Commission. The condition to implementation of the Scheme relating to such confirmation having been obtained has now been satisfied.
The Scheme remains subject to the satisfaction of certain other conditions, such as the sanction of the Scheme by the Court, as detailed in the document sent to Arena Shareholders dated 10 February 2012 (the "Scheme Document").
The Court hearing to sanction the Scheme is scheduled for 27 March 2012. The expected timetable for the implementation of the Scheme is as follows:
Event | Time and Date |
Court hearing to sanction the Scheme | 27 March 2012 |
Scheme Record Time | 6.00 p.m. on 28 March 2012 |
Suspension of listing of, and dealings in, Arena Shares | 7.30 a.m. on 29 March 2012 |
Capital Reduction Court Hearing | 29 March 2012 |
Scheme Effective Date | 30 March 2012 |
Cancellation of listing of Arena Shares | By no later than 8.00 a.m. on 2 April 2012 |
Latest date for despatch of cheques and settlement through CREST | Within 14 days of the Scheme Effective Date |
Long Stop Date | 13 July 2012 |
Note: The above times and dates are indicative only and are dependent on, amongst other things, the date on which the Conditions are satisfied or (if capable of waiver) waived. If the expected date of the Court hearing to sanction the Scheme or confirm the Capital Reduction or any other key date is changed, Arena will give notice of this change by issuing an announcement through a Regulatory Information Service.
All references to times are London times unless otherwise stated.
Capitalised terms in this announcement have the same meanings as set out in the Scheme
Document.
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Enquiries: | |
Arena | |
David Thorpe, Chairman Mark Elliott, Chief Executive Tony Harris, Finance Director | +44 20 7632 2080 |
Investec Bank plc (Financial Adviser to Arena) | |
James Grace James Rudd Duncan Williamson Laurence Whyatt | +44 20 7597 5970 |
Altium Capital Limited (Corporate Broker to Arena) | |
Ben Thorne Tim Richardson | +44 20 7484 4040 |
Aldersgate | |
Stephane Nahum (of Motcomb Estates Limited, representing Aldersgate) | +44 20 7802 5000 |
HSBC Bank plc (Financial Adviser and Corporate Broker to Aldersgate) | |
David Barraclough James Pincus Calvin Man | +44 20 7991 8888 |
Media Enquiries: | |
College Hill (PR Adviser to Arena) | |
Matthew Smallwood Justine Warren | +44 20 7457 2020 |
Luther Pendragon (PR Adviser to Aldersgate) | |
Charles Stewart Smith | +44 20 7618 9100 |
The Offer is made on the terms and subject to the conditions
and further terms set out in the
Scheme Document and Forms of Proxy.
Investec Bank plc, which is authorised and regulated in the
UK by the Financial Services Authority, is acting exclusively
for Arena and no one else in connection with the Offer and
this announcement and will not be responsible to anyone other
than Arena for providing the protections afforded to clients
of Investec nor for providing advice in connection with the
Offer or any matter referred to herein.
Altium Capital Limited, which is authoris ed and regulated in
the UK by the Financial Services Authority, is acting
exclusively for Arena and no one else in connection with the
Offer and this announcement and will not be responsible to
anyone other than Arena for providing the protections
afforded to clients of Altium nor for providing advice in
connection with the Offer or any matter referred to
herein.
HSBC Bank plc, which is authorised and regulated in the UK by
the Financial Services
Authority, is acting for Aldersgate and no one else in connec
tion with the Offer and this
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announcement and will not be responsible to anyone other than
Aldersgate for providing the protections afforded to clients
of HSBC Bank plc nor for providing advice in connection with
the Offer or any matter referred to herein.
This announcement does not constitute a prospectus or
prospectus equivalent document.
This announcement has been prepared for the purpose of
complying with English law and the City Code and the
information disclosed may not be the same as that which woul
d have been disclosed if this announcement had been prepared
in accordance with the laws of jurisdictions outside the
United Kingdom.
The release, publication or distribution of this announcement
in certain jurisdictions may be restricted by law. Persons
who are not resident in the United Kingdom or who are subject
to other jurisdictions should inform themselves of, and
observe, any applicable requirements.
Copies of this announcement are not being, and must not be,
directly or indirec tly, mailed or otherwise forwarded,
distributed or sent in, into or from a Restricted
Jurisdiction where to do so would violate the laws in that
jurisdiction, and persons receiving this announcement and all
documents relating to the Offer (including custodians,
nominees and trustees) must not mail or otherwise distribute
or send them in, into or from such jurisdictions as doing so
may invalidate any purported acceptance of the Offer.
Further details in relation to overseas Arena Shareholders
are contained i n the Scheme
Document.
A copy of this announcement will be made available, free of
charge subject to certain restrictions relating to persons in
Restricted Jurisdictions, at Arena's website at
www.arenaleisureplc.com/investor-information.html by no later
than 12 noon (London time) on the Business Day following the
date of this announcment.
Neither the content of the website referred to in this
announcement nor the content of any website accessible from
hyperlink s on Arena's website (or any other website) is
incorporated
into, or forms part of, this announcement.
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distributed by | This press release was issued by Arena Leisure plc and was initially posted at http://ripassetseu.s3.amazonaws.com/www.arenaleisureplc.com/_files/documents/mar_12/al__1332840968_2 6.03.12_-_Office_of_Fair_Trad.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-27 13:17:33 PM. The issuer is solely responsible for the accuracy of the information contained therein. |