Irish Cont. Regulatory News (ICGC)

15 Jun 2007 09:23

One Fifty One plc15 June 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM A RESTRICTED JURISDICTION 15 June 2007 RECOMMENDED ACQUISITION FOR CASH OF IRISH CONTINENTAL GROUP PLC ("ICG") BY MOONDUSTER LIMITED ("MOONDUSTER") BY MEANS OF A SCHEME OF ARRANGEMENT UNDER SECTION 201 OF THE COMPANIES ACT, 1963 (THE "ACQUISITION") The Board of Moonduster announces that the members of the Independent Board ofICG who hold ICG Units have entered into irrevocable undertakings to vote infavour of the Acquisition and the Scheme in respect of their own beneficialholdings, amounting to, in aggregate 47,354 ICG Units representing approximately0.2 per cent. of the existing issued share capital of ICG. These irrevocable undertakings will lapse in the event that the Acquisition andthe Scheme lapse or are withdrawn or the Scheme does not become effective on orbefore 31 October 2007 or a higher competing offer is made or a firm intentionto make a higher competing offer is announced or Moonduster announces that itwill not proceed with the Acquisition. In addition to the irrevocable undertakings previously received from One51Capital and Doyle Group, Moonduster has therefore received irrevocableundertakings to vote, or to procure that voting instructions are given to vote,in favour of the Acquisition and the Scheme in respect of, in aggregate,4,866,760 ICG Units, representing approximately 20.6 per cent. of the existingissued share capital of ICG. The conditions and terms of the Acquisition and the Scheme are contained in thefull text of the announcement issued by Moonduster on 14 June 2007. Termsdefined in that announcement have the same meaning in this announcement. Enquiries: One51 / Moonduster Tel: +353 (0) 1 612 1151Philip LynchPaul Dixon Joint Financial Advisers to MoondusterDavy Corporate Finance Tel: +353 (0) 1 679 6363Hugh McCutcheonDes Carville IBI Corporate Finance Tel: +353 (0) 1 637 7800Tom GodfreyJohn Tuite Joint PR Advisers to One51 / MoondusterMurray Consultants Tel: +353 (0) 1 498 0300Jim MiltonEd Micheau Fleishman-Hillard Tel: +353 (0) 1 618 8433James Morrissey The directors of Moonduster accept responsibility for the information containedin this announcement. To the best of the knowledge and belief of the directorsof Moonduster (who have taken all reasonable care to ensure that such is thecase), the information contained in this announcement is in accordance with thefacts and does not omit anything likely to affect the import of suchinformation. Davy Corporate Finance which is regulated by the Financial Regulator, is actingexclusively for Moonduster and no one else in connection with the Acquisitionand will not be responsible to anyone other than Moonduster for providing theprotections afforded to clients of Davy Corporate Finance or for providingadvice in relation to the Acquisition, the contents of this announcement or anytransaction or arrangement referred to herein. IBI Corporate Finance, a subsidiary of The Governor and Company of the Bank ofIreland (which is regulated by the Financial Regulator) is acting exclusivelyfor Moonduster and no one else in connection with the Acquisition and will notbe responsible to anyone other than Moonduster for providing the protectionsafforded to clients of IBI Corporate Finance or for providing advice in relationto the Acquisition, the contents of this announcement or any transaction orarrangement referred to herein. This information is provided by RNS The company news service from the London Stock Exchange