Coolabi plc : North Promotions Limited - Offer Document Posted:

11 Nov 11

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR
FROM ANY RESTRICTED JURISDICTION OR OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

11 November 2011

RECOMMENDED CASH OFFER WITH A SHARE ALTERNATIVE

FOR

COOLABI PLC ("COOLABI")

BY

NORTH PROMOTIONS PLC ("NORTH")

Posting of the Offer Document

Further to the announcement released on 28 October 2011 regarding the
recommended cash offer with a share alternative by North to acquire the issued
and to be issued share capital of Coolabi ("the Offer Announcement"), the
Company announces that the Offer Document in connection with the Offer is being
sent to Coolabi Shareholders today.

The first closing date for the Offer is 2 December 2011. The Offer Document,
along with the Form of Acceptance, Form of Proxy and the Announcement will also
be available on www.coolabi.com no later than 12 noon on 14 November 2011.

The Offer is being made on the terms and conditions set out in full in the
Offer Document and, in respect of certificated Coolabi Shares, the Form of
Acceptance.

Save as defined herein, defined terms used in this announcement have the same
meaning as set out in Appendix VI to the Offer Announcement.

Enquiries:

Evolution Securities Limited (sole financial adviser and Nominated Adviser to
Coolabi)

Jeremy Ellis Tel: [phone]

Merchant Securities Limited (sole financial adviser to
North)

David Worlidge Tel: [phone]

Virginia Bull

Publication on Website

In accordance with Rule 30.4(c) of the Code, a copy of this announcement will
be made available, subject to certain restrictions relating to persons resident
in a Restricted Jurisdiction, free of charge, on Coolabi's website at
www.coolabi.com by no later than 12 noon on 14 November 2011.

You may request a hard copy of this announcement, free of charge, by contacting
the Merchant securities on [phone].You may also request that all
future documents, announcements and information to be sent to you in relation
to the Offer should be in hard copy form.

FURTHER INFORMATION

This announcement is not intended to, and does not, constitute or form part of
an offer to sell, or otherwise dispose of, or constitute an invitation or the
solicitation of an offer to purchase, subscribe for or otherwise acquire any
securities or the solicitation of any vote or approval in any jurisdiction,
pursuant to the Offer or otherwise. The Offer will be made solely by means of
the Offer Document, which will contain the full terms and conditions of the
Offer (including details of how to accept the Offer). Any acceptance of the
Offer should be made only on the basis of the information contained in the
Offer Document. Coolabi Shareholders are advised to read the formal
documentation in relation to the Offer carefully.

Please be aware that addresses, electronic addresses and certain other
information provided by Coolabi Shareholders, persons with information rights
and other relevant persons for the receipt of communications from Coolabi may
be provided to North during the offer period as required under Section 4 of
Appendix 4 of the Code.

Merchant Securities is authorised by the Financial Services Authority. Merchant
Securities is acting exclusively for North and no one else in connection with
the Offer and will not be responsible to anyone other than North for providing
the protections afforded to clients of Merchant Securities, or for providing
advice in connection with the Offer or any matter referred to herein.

Evolution Securities is acting exclusively for Coolabi and no one else in
connection with the Offer and will not be responsible to anyone other than
Coolabi for providing the protections afforded to clients of Evolution
Securities or for providing advice in connection with the Offer or any matter
referred to herein.

Overseas Shareholders

This announcement is for information purposes only and does not constitute an
offer to sell or an invitation to purchase any securities or the solicitation
of an offer to buy any securities, pursuant to the Offer or otherwise. The
Offer will be made solely by means of an Offer Document and the Form of
Acceptance accompanying the Offer Document in respect of Coolabi Shares in
certificated form, which will contain the full terms and conditions of the
Offer, including details of how the Offer may be accepted.

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 would 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.

Unless otherwise determined by North or required by the City Code, and
permitted by applicable law and regulation, the Offer will not be made,
directly or indirectly, in, into or from a Restricted Jurisdiction where to do
so would violate the laws in that jurisdiction, and the Offer will not be
capable of acceptance from or within a Restricted Jurisdiction. Accordingly,
copies of this announcement and all documents relating to the Offer are not
being, and must not be, directly or indirectly, 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.

The availability of the Offer to Coolabi Shareholders who are not resident in
the United Kingdom may be affected by the laws of the relevant jurisdictions in
which they are resident. Persons who are not resident in the United Kingdom
should inform themselves of, and observe, any applicable requirements.

Disclosure requirements of the Takeover Code (the "Code")

Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or
more of any class of relevant securities of an offeree company or of any paper
offeror (being any offeror other than an offeror in respect of which it has
been announced that its offer is, or is likely to be, solely in cash) must make
an Opening Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any paper offeror is first
identified. An Opening Position Disclosure must contain details of the person's
interests and short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any paper offeror(s). An
Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3.30 pm (London time) on the 10th business day following
the commencement of the offer period and, if appropriate, by no later than 3.30
pm (London time) on the 10th business day following the announcement in which
any paper offeror is first identified. Relevant persons who deal in the
relevant securities of the offeree company or of a paper offeror prior to the
deadline for making an Opening Position Disclosure must instead make a Dealing
Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1
per cent. or more of any class of relevant securities of the offeree company or
of any paper offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any paper offeror. A Dealing
Disclosure must contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any paper offeror, save
to the extent that these details have previously been disclosed under Rule 8. A
Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no
later than 3.30 pm (London time) on the business day following the date of the
relevant dealing.

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a paper offeror, they will be deemed to be
a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see Rules
8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant
securities Opening Position Disclosures and Dealing Disclosures must be made
can be found in the Disclosure Table on the Takeover Panel's website at
http://www.thetakeoverpanel.org.uk , including details of the number of relevant
securities in issue, when the offer period commenced and when any offeror was
first identified. You should contact the Panel's Market Surveillance Unit on
[phone] if you are in any doubt as to whether you are required to
make an Opening Position Disclosure or a Dealing Disclosure.

END