Cornish Metals Regulatory News (TIN)

16 Nov 2005 15:34

Tinopolis PLC16 November 2005 FOR IMMEDIATE RELEASE 16 NOVEMBER 2005 TINOPOLIS PLC ("the Company") Further to its announcement on 10 November 2005 (the "Announcement") with theterms of an offer to be made by Winghaven Partners for the entire issued and tobe issued ordinary share capital of The Television Corporation plc ("TV Corp")(the "Offer") and in accordance with Rule 8.4 of the City Code on Takeovers andMergers (the "City Code"), the Company confirms that it has received thefollowing further irrevocable undertakings to accept, or procure acceptance of,the Offer: - From Talpa Beheer B.V. in respect of a further 3,124,884 TV Corpshares, representing approximately 7.5 per cent. of the existing issued TV Corpshares. - From Broadcast Communications Limited in respect of a further1,898,127 TV Corp shares, the beneficial owner of which is Terry Bate,representing approximately 4.6 per cent. of the existing issued TV Corp shares. These undertakings will cease to be binding if the offer document has not beenposted within 28 days of the Announcement or if a competing offer for TV Corp ismade which values a TV Corp share at more than a 10 per cent. premium to theOffer as outlined in the Announcement. The Company has now received irrevocable undertakings to accept the Offer fromthe following TV Corp shareholders representing approximately 27.0 per cent ofthe existing issued TV Corp shares: - From Talpa Beheer B.V. in respect of 6,228,935 TV Corp shares,representing approximately 14.95 per cent. of the existing issued TV Corpshares. - From Broadcast Communications Limited in respect of 5,002,178 TV Corpshares, the beneficial owner of which is Terry Bate, representing approximately12.0 per cent. of the existing issued TV Corp shares. Tinopolis has also received letters of intent to accept the Offer from thefollowing shareholders: - From Schroder Investment Management Limited in respect of fundsmanaged by it, amounting to 7,088,039 TV Corp Shares, representing approximately17.0 per cent. of the existing issued TV Corp Shares. - From Talpa Beheer B.V. in respect of 1,601,361 TV Corp Shares,representing approximately 3.8 per cent. of the existing issued TV Corp Shares. - From HSBC Global Custody Nominee (UK) Ltd in respect of 1,294,586 TVCorp Shares, the beneficial owner of which is Terry Bate, representingapproximately 3.1 per cent. of the existing issued TV Corp Shares. Accordingly, the Company has received irrevocable undertakings and letters ofintent to accept the Offer from approximately 50.9 per cent. of TV Corpshareholders. --ENDS-- Enquiries: Winghaven Partners Ltd 020 7201 8899Will IselinRob Edgell Media Enquiries:Mantra PR 020 7907 7800Nick BishopLawrence Dore Notes to Editors: Tinopolis is one of the United Kingdom's leading independent televisionproduction companies. Established in 1990 and based in Llanelli, Tinopolis is amajor player in the regional television market producing approximately 640 hoursof television programming in 2004 for the Welsh channel, S4C, as well asprogrammes for a number of other broadcasters. Tinopolis is currently rankedBritain's fourth largest independent television producer based outside London.Tinopolis also provides creative and technical interactive services forgovernment and many public authorities in the UK and corporate organisationsworldwide. This information is provided by RNS The company news service from the London Stock Exchange