Offer Update


 

TIDMTLR 
 
RNS Number : 2908S 
UKRD Group Limited 
15 May 2009 
 
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 JURISDICTION WHERE IT 
IS UNLAWFUL TO DO SO 
 
 
UKRD Group Limited ("UKRD" or the "Company") 
Offer for The Local Radio Company plc extended 
 
 
On 27 March 2009, UKRD made a cash offer (the "Offer") to acquire the entire 
issued and to be issued share capital of The Local Radio Company plc ("Local 
Radio") on the basis of 2 pence per Local Radio Share. 
 
 
On 29 April 2009, UKRD revised its offer to acquire the entire issued and to be 
issued share capital of Local Radio on the basis of 3.25 pence per Local Radio 
Share (the "Revised Offer"). 
 
 
Subsequently, on 11 May 2009, UKRD again revised its offer to acquire the entire 
issued and to be issued share capital of Local Radio on the basis of 4 pence per 
Local Radio Share (the "Second Revised Offer"). The Second Revised Offer was 
declared unconditional in all respects on 12 May 2009. An offer document 
relating to the Second Revised Offer will be posted to Local Radio Shareholders 
as soon as possible following the date of this announcement. 
 
 
The Company hereby notifies Local Radio Shareholders that as at 1.00 p.m. 
(London time) on 14 May 2009, being the First Closing Date of the Revised Offer, 
it has received valid acceptances of the Offer and the Revised Offer in respect 
of 21,357,352 Local Radio Shares, representing 29.66 per cent. of the 
issued share capital of Local Radio. 
 
 
Accordingly, UKRD now holds valid acceptances in respect of and has an interest 
in 36,591,808 Local Radio Shares in aggregate, representing approximately 
50.82 per cent. of the existing issued share capital of Local Radio. 
 
 
UKRD wishes to announce that the Second Revised Offer will remain open until 
further notice. 
 
 
15 May 2009 
 
 
For further information, please contact: 
 
 
+-------------------------------------------------------+---------------+ 
| Charles Stanley Securities (Financial Adviser to      | 020 7149 6000 | 
| UKRD)                                                 |               | 
+-------------------------------------------------------+---------------+ 
| Rick Thompson                                         |               | 
+-------------------------------------------------------+---------------+ 
| Philip Davies                                         |               | 
+-------------------------------------------------------+---------------+ 
| Carl Holmes                                           |               | 
+-------------------------------------------------------+---------------+ 
 
 
Charles Stanley Securities, which is authorised and regulated in the United 
Kingdom by the Financial Services Authority, is acting exclusively for UKRD and 
no one else in connection with the Offer, the Revised Offer and the Second 
Revised Offer and will not be responsible to anyone other than UKRD for 
providing the protections afforded to its clients or for providing advice in 
relation to the Offer, the Revised Offer and the Second Revised Offer, the 
contents of the Offer Document, the Revised Offer Document and the Second 
Revised Offer Document or this announcement or any transaction or arrangement or 
other matter referred to herein. 
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 purchase or subscribe for any securities 
pursuant to the Offer, the Revised Offer and the Second Revised Offer or 
otherwise. The Revised Offer has been made solely through the Revised Offer 
Document and (in respect of Local Radio Shares held in certificated form) the 
Form of Acceptance, which together contain the full terms and conditions of the 
Revised Offer, including details of how to accept the Revised Offer. Any 
acceptance or other response to the Revised Offer should be made only on the 
basis of the information contained in the Revised Offer Document and (in respect 
of Local Radio Shares held in certificated form) the Form of Acceptance. The 
Revised Offer will be subject to the applicable requirements of the City Code, 
the Panel, the London Stock Exchange and the Financial Services Authority. 
 
 
The release, publication or distribution of this announcement in jurisdictions 
other than the UK may be restricted by law and therefore any persons who are nor 
resident in the UK or who are subject to the laws of any jurisdiction other than 
the UK should inform themselves about, and observe, any applicable requirements. 
Any failure to comply with the applicable requirements may constitute a 
violation of the securities laws of any such jurisdiction. This announcement has 
been prepared for the purpose of complying with English law and the City Code 
and the information disclosed herein 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 the UK. 
 
 
The Revised Offer is not being made, directly or indirectly, or by the use of 
the mails of, or by any means or instrumentality (including, without limitation, 
facsimile or other electronic transmission, telex or telephone) of inter-state 
or foreign commerce or any facility of, a national securities exchange of any 
jurisdiction if to do so would constitute a violation of the relevant laws of 
such jurisdiction ("Restricted Jurisdiction") (including the United States, 
Canada, Australia or Japan), and the Revised Offer is not capable of acceptance 
by any such use, means, instrumentality or facility or from within a Restricted 
Jurisdiction. Accordingly, copies of the Revised Offer Document, the Form of 
Acceptance (in respect of certificated Local Radio Shares) and this announcement 
are not being, and must not be, directly or indirectly, mailed, transmitted or 
otherwise forwarded, distributed or sent in or into or from a Restricted 
Jurisdiction and persons receiving such documents (including, without 
limitation, custodians, nominees and trustees) must not mail, transmit, or 
otherwise forward, distribute or send them in or into or from a Restricted 
Jurisdiction. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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