Compulsory Acqn of Shares

    RNS Number : 4308V
  Religare Capital Mrkts Int (UK) Ltd
  28 May 2008
   

    For immediate release

    28 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

    Squeeze-out of Outstanding Offeree Shares

    On 23 May 2008 Religare Capital Markets International (UK) Limited ("RCMI(UK)") announced that the recommended cash Offer to acquire
Hichens, Harrison & Co Plc ("Hichens") had been declared unconditional in all respects.

    As at 1.00 p.m. on 23 May 2008 RCMI(UK) had received valid acceptances in respect of over 90 per cent. in value and over 90 per cent. of
the voting rights of Hichens Shares.

    Consequently, RCMI(UK) has implemented the procedure under Chapter 3 of Part 28 of the Companies Act 2006 to compulsory acquire all of
the outstanding Hichens Shares which it does not already hold or has not already acquired, contracted to acquire or in respect of which it
has not already received valid acceptances. The Offer, as set out in the Offer Document, will remain open for acceptance until further
notice.

    The definitions set out in the Offer Document dated 2 May 2008 have the same meanings in this announcement.

    Enquiries:

    
 PricewaterhouseCoopers LLP              Telephone: +44 (0) 207 583 5000
  
 (Financial adviser to RCMI(UK) and RCML)
 Simon Boadle                                                           
 Andrew Perkin                                                          
                                                                        


    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. 

    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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