CNCT.L Regulatory News (CNCT)

30 Aug 2006 07:01

Smith WH PLC30 August 2006 WH Smith PLC Scheme expected to become effective and trading expected to commence in shares of Smiths News PLC All the conditions to the scheme of arrangement of WH Smith PLC (the "Scheme")in connection with the proposed separation of the WH Smith Retail business fromthe News business via a demerger have now been satisfied or are shortly expectedto be satisfied. The Scheme is expected to become effective shortly after 7.30am(BST) today. At this time Smiths News PLC ("Smiths News") will become theultimate holding company for the WH Smith Group. Consequently, WH Smith PLC shares are expected to be delisted and trading inSmiths News shares under the ticker 'NWS' is expected to commence on the LondonStock Exchange at 8.00am (BST) today. CREST accounts will be credited withSmiths News shares at 8.00am (BST) today. Shareholders will, on 8 September2006, be sent share certificates in respect of their holdings in Smiths News. The Demerger is expected to become effective at the close of business on 31August 2006. It is expected that trading in New WH Smith shares will commence on1 September 2006. Until then, Smiths News PLC will be the ultimate holdingcompany of the WH Smith Group comprising both the Retail business and the Newsbusiness. Enquiries: WH SmithMark Boyle Investor Relations 020 7851 8820Louise Evans Media Relations 020 7851 8850 The contents of this announcement have been issued by and are the soleresponsibility of WH Smith PLC. Greenhill & Co. International LLP, which is regulated in the UK by the FinancialServices Authority, is acting for WH Smith PLC as financial adviser and sponsorand is acting for Smiths News PLC and New WH Smith PLC as sponsor in connectionwith the demerger and for no one else and will not be responsible to any otherperson for providing the protections afforded to its clients, or for providingadvice in relation to the demerger. This announcement is an advertisement and does not comprise a prospectusrelating to Smiths News PLC or New WH Smith PLC. It does not constitute or formpart of any offer of securities, or constitute solicitation of any offer ofsecurities. You should not purchase or subscribe for securities referred to inthis announcement except on the basis of information in the prospectusespublished in relation to Smiths News PLC and New WH Smith PLC (and anysupplement or amendment thereto). This announcement does not constitute a recommendation concerning the demerger,and should not be construed as legal, business, tax or investment advice. Thevalue of shares can go down as well as up. Past performance is not a guide tofuture performance. Shares in Smiths News PLC and/or New WH Smith PLC have not been and will not beregistered under the United States Securities Act of 1933 (as amended) and willbe issued in transactions that are exempt from or not subject to theregistration requirements of such Act. In addition, shares in Smiths News PLCand/or New WH Smith PLC have not been and will not be registered under thesecurities laws of any state of the United States, and will be issued inreliance on available exemptions from such state law registration requirements. ENDS This information is provided by RNS The company news service from the London Stock Exchange