DODS.L Regulatory News (DODS)

15 Aug 2005 07:01

Huveaux PLC15 August 2005 Not for release, publication or distribution in or into the United States,Australia, Canada, Japan or any other jurisdiction if to do so would constitutea violation of the relevant laws of such jurisdiction For immediate release 15 August 2005 Huveaux PLC Recommended Offer for Epic Group plc Huveaux PLC ("Huveaux") notes the announcements made on 12 August 2005 byFuturemedia plc and Epic Group plc ("Epic"). The offer announced by Huveaux on 28 July 2005 (the "Offer") provides forconsideration of 1.33 New Huveaux Shares and 35.0 pence in cash for each EpicShare. Based on the closing price of 48 pence per Huveaux Share on 12 August2005, the Offer currently values each Epic Share at 98.8 pence per share. Thisrepresents a significant premium, of 48.6 per cent. over the closing Epic shareprice of 66.5 pence on 27 June 2005 (the last business day prior to theannouncement that the Epic Board was in talks that might lead to an offer forEpic). The Offer remains the only firm offer for Epic and continues to be unanimouslyrecommended by the Epic Board. The Offer therefore provides certainty to EpicShareholders. In aggregate, Huveaux has received irrevocable undertakings and a letter ofintent to accept, or to procure the acceptance of, the Offer in respect of12,399,243 Epic Shares, representing 51.8 per cent. of the existing issued share capital of Epic. Epic Shareholders are reminded that the first closing date for acceptance ofthe Offer is 18 August 2005 and Epic Shareholders are urged to accept the Offerby this time. The Offer, which remains subject to the terms and conditions set out in theOffer Document, will remain open for acceptance until 3.00 p.m. on 18 August2005. Huveaux reserves the right (but will not be obliged, other than asrequired by the Panel) at any time and from time to time to extend the Offerafter such time. To the extent they have not already done so, Epic Shareholders who hold theirEpic Shares in certificated form and who wish to accept the Offer shouldcomplete, sign and return their Forms of Acceptance as soon as possible inaccordance with the instructions set out in the Offer Document and in the Formof Acceptance. Epic Shareholders who hold their Epic Shares in uncertificated form and whowish to accept the Offer should send to CRESTCo a TTE Instruction in relationto such shares as soon as possible. The procedure for acceptance of the Offer is set out in paragraph 15 of Part II of the Offer Document. Words and expressions defined in the Offer Document dated 28 July 2005 shallhave the same meaning when used in this announcement. Enquiries Huveaux 020 7245 0270John van Kuffeler, Executive Chairman Dresdner Kleinwort Wasserstein (Financial advisor to Huveaux) 020 7623 8000Joe Thompson Finsbury (Public Relations advisor to Huveaux) 020 7251 3801James LevitonKatie Lang Dresdner Kleinwort Wasserstein, which is authorised and regulated by theFinancial Services Authority, is acting for Huveaux and for no-one else inconnection with the Offer and will not be responsible to anyone other thanHuveaux for providing the protections afforded to customers of DresdnerKleinwort Wasserstein, or for providing advice in relation to the Offer or anymatters referred to herein. This information is provided by RNS The company news service from the London Stock Exchange