CTP.L Regulatory News (CTP)

27 Dec 2006 07:30

Redstone PLC27 December 2006 27 December 2006 Not for release, publication or distribution, in whole or in part, in, into orfrom the United States, Canada, Ireland, Australia or Japan, or any otherjurisdiction where to do so would constitute a violation of the relevant laws ofsuch jurisdiction. Redstone plc ("Redstone") Recommended Cash Offer for IDN Telecom plc by Evolution Securities Limited on behalf of Redstone ("the Offer") Extension of Offer and Announcement of Level of Acceptances Redstone announces that as at 1.00 p.m. on 22 December 2006, being the firstclosing date of the Offer being made by Evolution Securities Limited("Evolution") on behalf of Redstone for the entire issued and to be issued sharecapital of IDN Telecom plc ("IDN") as set out in the Offer Document dated 1December 2006, valid acceptances of the Offer had been received in respect of atotal of 281,746,291 IDN Shares representing, in aggregate, approximately 72.63per cent. of IDN's total issued share capital. The Offer has now been extended and will remain open for acceptance until 1.00p.m. on 5 January 2007. Prior to the announcement of the Offer on 30 November 2006 Redstone had receivedirrevocable undertakings to accept the Offer from IDN Shareholders in respect of154,213,231 IDN Shares held by them, representing approximately 39.75 per cent.of IDN's total issued share capital. Valid acceptances have been received inrespect of 154,213,131 IDN Shares remaining subject to the irrevocableundertakings and are included in the total number of acceptances referred toabove. In addition Redstone has received an irrevocable undertaking from MichaelMorrison, Chief Executive of IDN to accept the Offer in respect of IDN Sharesacquired as a result of exercising his vested options. No such exercise has yetoccurred. Save as disclosed above, no IDN Shares have been acquired or agreed to beacquired by or on behalf of Redstone or any person acting in concert withRedstone during the Offer Period and neither Redstone nor any person acting inconcert with Redstone has the benefit of any irrevocable commitment or letter ofintent in respect of any IDN Shares or has any interest in any IDN Shares, orany short position (whether conditional or absolute and whether in the money orotherwise and including any short position under a derivative), any agreement tosell, any delivery obligation, any right to require another person to purchaseor take delivery in respect of any IDN Shares, any right to subscribe for anyIDN Shares or any stock borrowing or lending arrangement in respect of any IDNShares. Forms of Acceptance not yet returned should be completed and returned inaccordance with the instructions set out in the Offer Document and on the Formof Acceptance so as to be received as soon as possible and in any event by nolater than 1.00 p.m. on 5 January 2007. Any further extensions of the Offer willbe publicly announced by 8.00 a.m. on the business day following the day onwhich the Offer is due to expire. The Offer remains subject to the terms and conditions set out in the OfferDocument. Unless the context otherwise requires, defined terms used in this announcementshall have the meanings given to them in the Offer Document. ENQUIRIES: Redstone plc Tel. +44 (0)845 200 2200Martin Balaam, Chief ExecutiveTim Perks, Chief Financial Officer IDN Telecom plc Tel. +44 (0)870 777 1775Mike Morrison, Chief ExecutiveGordon Hermiston, Finance Director ICIS Limited Tel. +44 (0)20 7651 8688Tom Moriarty or +44 (0)7769 937 626 The Redstone Directors accept responsibility for the information contained inthis announcement. To the best of the knowledge and belief of the RedstoneDirectors (who have taken all reasonable care to ensure that such is the case)the information contained herein for which they are responsible is in accordancewith the facts and does not omit anything likely to affect the import of suchinformation. Evolution Securities, which is regulated in the UK by the Financial ServicesAuthority, is acting exclusively for Redstone in connection with the Offer andno one else and will not be responsible to anyone other than Redstone forproviding the protections afforded to clients of Evolution Securities Limitednor for providing advice in relation to the Offer. The Offer will not be made, directly or indirectly, in or into, or by the use ofmails or any means or instrumentality (including, without limitation,telephonically or electronically) of interstate or foreign commerce of, or anyfacility of a national securities exchange of a Restricted Jurisdiction(including the United States, Canada, Ireland, Australia or Japan) and the Offerwill not be capable of acceptance by any such use, means, instrumentality orfacilities from or within a Restricted Jurisdiction. Accordingly, copies of thisannouncement and any related documents are not being, and must not be, directlyor indirectly, mailed or otherwise forwarded, distributed or sent in or into orfrom a Restricted Jurisdiction and persons receiving this announcement and anyrelated document (including custodians, nominees and trustees) must not mail orotherwise forward, distribute or send it in, into or from a RestrictedJurisdiction or such other jurisdiction where to do so would constitute aviolation of the relevant laws of such jurisdiction. Doing so may render invalidany purposed acceptance of the Offer. The availability of the Offer to persons who are not resident in the UnitedKingdom may be affected by the laws of the relevant jurisdictions. Persons whoare not resident in the United Kingdom should inform themselves about andobserve any applicable requirements. This information is provided by RNS The company news service from the London Stock Exchange