PAM.L Regulatory News (PAM)

20 Aug 2007 16:18

Harvard Bidco20 August 2007 20 August 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, OR ANY OTHER RESTRICTED JURISDICTION Announcement For Immediate Release Recommended Final* Cash Offer by Harvard Bidco Limited for Premier Asset Management PLC On 20 July 2007, Harvard Bidco Limited ("Harvard Bidco") made a recommendedfinal* cash offer for the entire issued and to be issued share capital ofPremier Asset Management plc ("Premier"), other than Premier Shares whichHarvard Bidco has conditionally agreed to acquire under the Exchange andSubscription Agreement (the "Offer"). The directors of Harvard Bidco announce that the Offer will not be extendedbeyond 24 August 2007 (being the next closing date of the Offer), and willtherefore lapse, unless it has become or is declared unconditional as toacceptances as at 1 p.m. on that date*. Premier Shareholders who wish to accept the Final Offer, but have not yet doneso, are strongly encouraged (in the case of Premier Shares which are not held inCREST) to complete and return a Form of Acceptance or (in the case of PremierShares held in uncertificated form (that is, held in CREST)) to take the actionset out in paragraph 17 of Part 2 of the Offer Document, in each case as soon aspossible and, in any event, by no later than 1.00 p.m. on 24 August 2007. *Harvard Bidco reserves the right to increase or otherwise amend the FinalOffer, or to extend the Offer beyond 24 August 2007, should a competitivesituation arise. For the avoidance of doubt, a competitive situation will ariseif a third party announces a firm intention to make an offer for Premierpursuant to Rule 2.5 of the City Code. Enquiries: Harvard Bidco Telephone: +44 (0)14 8340 0402 Mike O'Shea Numis (financial adviser to Harvard Bidco) Telephone: +44 (0)20 7260 1000 Lee Aston, Corporate Finance Chris Wilkinson, Corporate Broking Investor Relations Telephone: +44 (0)20 7758 2230 Jo Stonier and Eleanor Mitchell of Quill Communications Premier Telephone: +44 (0)7778 213 337 Roger Wood Altium (financial adviser to Premier) Telephone: +44 (0)20 7484 4040 Ben Thorne Nick Tulloch Electra Partners LLP Telephone: +44 (0)20 7153 1530 Nick Miles of M:Communications The definitions set out in the Offer Document apply in this announcement unlessotherwise indicated. Numis, which is authorised and regulated in the United Kingdom by the FSA, isacting exclusively for Harvard Bidco and no one else in connection with theFinal Offer and will not be responsible to anyone other than Harvard Bidco forproviding the protections afforded to clients of Numis nor for giving advice inrelation to the Final Offer or any matter or arrangement referred to in thisannouncement. Altium, which is authorised and regulated in the United Kingdom by the FSA, isacting exclusively for Premier in connection with the Final Offer and for no oneelse in connection with the Final Offer and will not be responsible to anyoneother than Premier for providing the protections afforded to clients of Altiumor for giving advice in relation to the Final Offer or any matter or arrangementreferred to in this announcement. The distribution of this announcement in jurisdictions other than the UnitedKingdom and the availability of the Final Offer to Premier Shareholders who arenot resident in and citizens of the United Kingdom may be affected by the lawsof relevant jurisdictions in which they are located or of which they arecitizens. Therefore any persons who are subject to the laws of any jurisdictionother than the United Kingdom or Premier Shareholders who are not resident in orcitizens of the United Kingdom will need to inform themselves about, andobserve, any applicable requirements. The Final Offer is not being, and will not be, made, directly or indirectly, inor into or by the use of the mails of, or by any other means or instrumentality(including, without limitation, electronic mail, facsimile transmission, telex,telephone, internet or other forms of electronic communication) of interstate orforeign commerce of, or any facility of a national state or other securitiesexchange of any Restricted Jurisdiction and will not be capable of acceptance byany such use, means, instrumentality or facility or from within any RestrictedJurisdiction. Accordingly, copies of this announcement are not being, and must not be,directly or indirectly, mailed, transmitted or otherwise forwarded, distributedor sent in, into or from any Restricted Jurisdiction and persons receiving thisannouncement (including, without limitation, custodians, nominees and trustees)should observe these restrictions and must not mail or otherwise forward,distribute or send it in, into or from such jurisdiction. Doing so may renderany purported acceptance of the Final Offer invalid. Any person (including,without limitation, any custodian, nominee and trustee) who would, or otherwiseintends to, or who may have a contractual or legal obligation to, forward thisannouncement and/or the Offer Document and/or any other related document to anyjurisdiction outside the United Kingdom should read paragraph 7 of Part B ofAppendix I to the Offer Document. This information is provided by RNS The company news service from the London Stock Exchange