Offer Update

    RNS Number : 4876U
  Religare Capital Mrkts Int (UK) Ltd
  14 May 2008
   

    For Immediate Release 

    14 May 2008


    Not for release, publication or distribution, in whole or in part, in or into or from the United States, Canada, Australia or Japan or
any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction


    Recommended Cash Offer by Religare Capital Markets International (UK) Limited for Hichens, Harrison & Co Plc

    FSA approval received

    Introduction

    Further to the offer made on 2 May 2008 by Religare Capital Markets International (UK) Limited ("RCMI(UK)") by means of an offer
document (the "Offer Document") to acquire the entire issued and to be issued share capital of Hichens, Harrison & Co Plc ("Hichens") (the
"Offer"), RCMI(UK) is pleased to announce that written approval from the FSA of the change of control of Hichens has now been received.
Accordingly, RCMI(UK) and RCML have now received approval for the acquisition from all relevant regulatory bodies, being the FSA, SEBI and
RBI.

    Offer Open for Acceptance

    The Offer, which remains subject to the terms and conditions set out in the Offer Document, and, in respect of Hichens Shares held in
certificated form, in the Form of Acceptance, remains open for acceptance and the first closing date is at 1.00 p.m. on 23 May 2008.

    Further Acceptances

    Hichens Shareholders who wish to accept the Offer, but have not yet done so, are strongly encouraged (in the case of Hichens Shares
which are not held in CREST) to complete and return a Form of Acceptance, or in the case of Hichens Shares held in uncertificated form (that
is, in CREST), to take the action set out in paragraph 14 of the letter from RCMI(UK) in Part II of the Offer Document, in each case as soon
as possible and in any event by no later than 1.00 p.m. on 23 May 2008. Copies of the Offer Document and the Form of Acceptance can be
obtained by contacting Capita Registrars on 0871 664 0321 or, if calling from outside the UK, on +44 20 8639 3399.

    Other

    The definitions set out in the Offer Document dated 2 May 2008 apply to this announcement unless otherwise indicated.  


    Enquiries:

 PricewaterhouseCoopers LLP                Telephone: +44 (0) 207 583 5000
  
 (Financial adviser to RCMI(UK) and RCML)
 Simon Boadle                                                             
 Andrew Perkin                                                            
                                                                          
 Ruegg & Co Limited                        Telephone: +44 (0) 207 584 3663
                                                                          
 (Financial adviser to Hichens)                                           
 Brett Miller                                                             
 Roxane Marffy                                                            




    The Directors of RCMI(UK) and Religare Enterprises Limited ("REL") accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Directors of RCMI(UK) and REL (who have taken all reasonable care to ensure
that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to
affect the import of such information.  

    PricewaterhouseCoopers LLP, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting
exclusively for RCMI(UK) and RCML and no one else in connection with the Offer and will not be responsible to anyone other than RCMI(UK) and
RCML for providing the protections afforded to clients of PricewaterhouseCoopers LLP nor for providing advice in relation to the Offer or
any other matters referred to in this announcement. 
    Ruegg & Co Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively
for Hichens and no one else in connection with the Offer and will not be responsible to anyone other than Hichens for providing the
protections afforded to clients of Ruegg & Co Limited nor for providing advice in relation to the Offer or any other matters referred to in
this announcement. 
    This announcement is not intended to, and does not, constitute, or form any part of, an offer to sell or an invitation to purchase or
subscribe for any securities or the solicitation of an offer to buy or subscribe for any securities pursuant to the Offer or otherwise. The
Offer has been made solely on the basis of the Offer Document and, in the case of Hichens Shares held in certificated form, the Form of
Acceptance, which contain the full terms and conditions of the Offer (including details on how to accept the Offer). The Offer Document has
been posted to those persons able to receive it. Those persons receiving, or who have received, the Offer Document are strongly advised to
read it in full. Any response in relation to the Offer should be made only on the basis of the information contained in the Offer Document
or any other document by which the Offer is made. 
    This announcement has been prepared for the purpose of complying with English law and the City Code and the information disclosed may
not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions
outside England. The Offer is subject to the applicable rules and regulations of the London Stock Exchange and the City Code. 
    Unless otherwise determined by RCMI(UK) or required by the City Code and permitted by applicable law and regulation, the Offer is not
being made and will not be made, directly or indirectly, in or into, or by use of the mails, or by any means or instrumentality (including,
without limitation, by means of telephone, facsimile, telex, internet or other forms of electronic communication) of interstate or foreign
commerce of, or by any facility of a national, state or other securities exchange of, the United States, Canada, Australia, Japan or any
other jurisdiction where to do so would violate the laws of that jurisdiction (a "Restricted Jurisdiction"), nor is the Offer capable of
acceptance by any such use, means, instrumentality or facility or from within any Restricted Jurisdiction. Accordingly, copies of this
announcement, the Offer Document, the Form of Acceptance and any other documents relating to the Offer are not being, and must not be,
directly or indirectly, mailed or otherwise howsoever forwarded, distributed or sent in, into or from any Restricted Jurisdiction. Persons receiving such documents (including without limitation
custodians, nominees and trustees) should observe these restrictions and must not mail or otherwise howsoever forward, distribute or send
such documents in, into or from any Restricted Jurisdictions as doing so may invalidate any related purported acceptance of the Offer. 
    The availability of the Offer to persons who are not resident in the United Kingdom may be affected by the laws of the relevant
jurisdiction in which they are located. Persons who are not resident in the United Kingdom should inform themselves about, and observe,
applicable legal and/or regulatory requirements in their jurisdiction. Further details in relation to Overseas Shareholders are contained in
the Offer Document.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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