BILL.L Regulatory News (BILL)

12 Jan 2006 17:24

Billing Services Group Limited12 January 2006 For immediate release 12 January 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN Billing Services Group Limited ("BSG" or the "Company") Recommended Offer for United Clearing Plc ("United Clearing") Offer Update The Company made an announcement on 15 December 2005 of its firm intention tomake an offer for United Clearing and hence under Rule 30.1 of the City Code(which requires the posting of an offer document within 28 days of theannouncement of a firm intention to make an offer) would normally be required topost an offer document by 12 January 2006. The Company announces today that it has been granted an extension by the Panelon Takeovers and Mergers to the requirement under Rule 30.1 of the City Code topost an offer document by 12 January 2006. With the consent of the board ofdirectors of United Clearing and Seymour Pierce, United Clearing's financialadviser, the Panel Executive has agreeded to the posting of the offer documentby no later than 20 January 2006. Enquiries:Billing Services Group Limited Tel: +1 847 832 0077Patrick J. Haynes III, Chief ExecutiveRandall Brouckman, Chief Operating Officer Buchanan Communications Tel: +44 (0)20 7466 5000Bobby Morse / Jeremy Garcia / James Strong Evolution Securities Limited Tel: +44 (0)20 7071 4300Michael Brennan / Stuart Andrews / Fergus Marcroft This announcement is issued by Evolution Securities Limited ("Evolution") whichis regulated in the U.K. by the Financial Services Authority. Evolution isacting exclusively for BSG in connection with the Offer and no one else and willnot be responsible to anyone other than BSG for providing the protectionsafforded to clients of Evolution nor for providing advice in relation to theOffer. BSG shares have not been registered under the United States Securities Act of1933, as amended ("U.S. Securities Act") and may not be offered, sold, pledgedor otherwise transferred except (a)(1) in an Offshore Transaction complying withRule 904 of U.S. Regulation S or (2) pursuant to an exemption from registrationunder the U.S. Securities Act and (b) in accordance with all applicablesecurities laws of the states of the United States. An "Offshore Transaction" is an offer of BSG shares not made to a person in theUnited States and, at the time a buy order is originated, the buyer is outsidethe United States or the seller reasonably believed the buyer was outside theUnited States, so long as such offer or sale was not specifically targeted atidentifiable groups of United States citizens living abroad (such as members ofthe United States armed forces living overseas); provided, however, an offer orsale to a person identified in Rule 902(k)(2)(vi) of U.S. Regulation S shall bedeemed to be made in an Offshore Transaction. "U.S. Regulation S" is Regulation S promulgated by the United States Securitiesand Exchange Commission under the U.S. Securities Act, including the preliminarynotes thereto. This information is provided by RNS The company news service from the London Stock Exchange