SafeCharge Regulatory News (SCH)

21 Nov 2006 11:10

Get Group PLC21 November 2006 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. PRESS ANNOUNCEMENT FOR IMMEDIATE RELEASE 21 November 2006 RECOMMENDED ACQUISITION OF GET GROUP PLC BY SCHNEIDER ELECTRIC (UK) LIMITED, A WHOLLY - OWNED SUBSIDIARY OF SCHNEIDER ELECTRIC S.A. Court Hearing Sanctions Scheme of Arrangement The Board of GET is pleased to announce that the Court sanctioned the Scheme to implement the recommended acquisition of GET by Schneider Electric (UK) Limited at the Court Hearing held today. The Court also confirmed the associated reduction of GET's share capital. It is expected that the Scheme will become effective on 22 November 2006 following the delivery of an office copy of the Court Order and minute to the Registrar of Companies and (in relation to the Capital Reduction) the registration by him of such Court Order and minute. All other conditions of the Scheme have been satisfied. Trading in GET Shares on AIM will be suspended with effect from 7.00 a.m. tomorrow and, following the Scheme becoming effective on 22 November 2006 as described above, trading in GET Shares will be cancelled with effect from 7.00 a.m. on 23 November 2006. Capitalised terms used in this announcement but not otherwise defined shall have the meaning given to them in the Scheme Document. Enquiries:GET Group plc Tel: +44 (0)1707 601 700 Lance Joseph Michael Cohen Cavendish Corporate Finance Tel: +44 (0)20 7908 6000 (financial adviser to GET) Howard Leigh Andrew Jeffs Shore Capital Tel: +44 (0)20 7408 4090 (broker to GET)Alex Borrelli Hansard Communications Tel: +44 (0)20 7245 1100 (PR adviser to GET)Adam Reynolds Schneider Electric Media (Veronique Moine) Tel: +33 (0)1 41 29 70 71 Investors (Alexandre Brunet) Tel: +33 (0)1 41 29 70 76 Hawkpoint Tel: +44 (0)20 7665 4500 (financial adviser to the Acquiror andSchneider Electric) David Renton Morgan Jones The Acquiror Directors and certain members of the senior management of Schneider Electric(including each of the members of the Management Board) accept responsibility for theinformation contained in this announcement other than information relating to GET, the GETGroup, the GET Directors, their immediate families and related trusts and companies andconfirm that to the best of their knowledge and belief (having taken all reasonable care toensure that this is the case), the information contained in this announcement for whichthey accept responsibility is in accordance with the facts and does not omit anythinglikely to affect the import of such information. The GET Directors accept responsibility for the information contained in this announcementrelating to GET, the GET Group, the GET Directors, their immediate families and relatedtrusts and companies and confirm that to the best of their knowledge and belief (havingtaken all reasonable care to ensure that this is the case), the information contained inthis announcement for which they accept responsibility is in accordance with the facts anddoes not omit anything likely to affect the import of such information. Hawkpoint, which is authorised and regulated in the United Kingdom by the FinancialServices Authority, is acting exclusively for the Acquiror and Schneider Electric and noone else in connection with the Acquisition and will not be responsible to anyone otherthan the Acquiror and Schneider Electric for providing the protections afforded to itscustomers or for providing advice in relation to the Acquisition or in relation to thecontents of this announcement or any transaction or arrangement referred to herein. Cavendish Corporate Finance, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for GET and no one else in connectionwith the Acquisition and will not be responsible to anyone other than GET for providing theprotections afforded to its customers or for providing advice in relation to theAcquisition or in relation to the contents of this announcement or any transaction orarrangement referred to herein. This announcement is not intended to and does not constitute, or form any part of, an offeror an invitation to sell or purchase any securities or the solicitation of any vote orapproval in any jurisdiction pursuant to the Acquisition or otherwise. The Acquisitionwill be made solely through the Scheme Document, which contains the full terms andconditions of the Acquisition, including details of how to vote in favour of theAcquisition. Any vote or other response to the Acquisition should be made only on the basisof the information contained in the Scheme Document. The laws of relevant jurisdictionsmay affect the availability of the Acquisition to persons not resident in the UnitedKingdom. Persons who are not resident in the United Kingdom, or who are subject to thelaws of any jurisdiction other than the United Kingdom, should inform themselves about, andobserve any applicable legal and regulatory requirements. This information is provided by RNS The company news service from the London Stock Exchange