15 Mar 2016 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
15 March 2016
Recommended Acquisition
of
Cable & Wireless Communications Plc ("CWC" or the "Company")
by
Liberty Global plc ("Liberty Global")
On 16 November, 2015 the Liberty Global Directors and the CWC Directors announced that they had reached agreement regarding the terms of a recommended acquisition through which Liberty Global will acquire the entire issued and to be issued share capital of CWC (the "2.7 Announcement").
Liberty Global announced yesterday that it has filed the definitive Proxy Statement (the "Proxy Statement") with the SEC. The mailing of the Proxy Statement to relevant Liberty Global shareholders will commence promptly and the Liberty Global Shareholder meeting will be held on 20 April 2016.
The Company announces today that the Scheme Document is expected to be posted to CWC Shareholders before the end of this month and that the Court Meeting and CWC General Meeting are expected to be held on 28 April 2016.
Completion of the Offer is expected to take place during the middle of May 2016.
Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the 2.7 Announcement.
Enquiries:
|
|
CWC |
|
Kunal Patel | Tel: +44 (0) 20 7315 4083 |
Mike Gittins | Tel: +44 (0) 20 7315 4184 |
Further information
This announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer, invitation, inducement or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of or exercise rights in respect of any securities, or the solicitation of any vote or approval of an offer to buy securities in any jurisdiction, pursuant to the Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities of CWC or Liberty Global pursuant to the Transaction in any jurisdiction in contravention of applicable law. The Acquisition is intended to be implemented by way of the Scheme pursuant to the terms of the Scheme Document, which will contain the full terms and conditions of the Transaction, including details of how to vote in respect of the Scheme. The Scheme will be followed by the Merger. Any decision, vote or other response in respect of the Transaction should be made only on the basis of information contained in the Scheme Document. CWC Shareholders are advised to read the formal documentation in relation to the Transaction carefully once it has been despatched.
This announcement does not constitute a prospectus or prospectus-equivalent document.
Publication on website
A copy of this announcement will be made available, free of charge and subject to certain restrictions relating to persons in Restricted Jurisdictions, on CWC's website at http://www.cwc.com/ by no later than 12 noon (London time) on the Business Day following the date of this announcement. For the avoidance of doubt, the content of such websites are not incorporated into, and do not form part of, this announcement.
Each of the CWC directors accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of each of the CWC directors (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of that information.