Cancellation of Shares

RNS Number:2158P
Umbro PLC
03 March 2008


 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



3 March 2008


                              Umbro plc ("Umbro")



 Recommended cash acquisition of Umbro plc by NIKE Vapor Ltd. ("Nike Vapor", a
                     wholly-owned subsidiary of NIKE, Inc.)



                  Effective Date of the scheme of arrangement
                       Cancellation of listing of Shares



The board of Umbro is pleased to announce that the order of the High Court of
Justice dated 29 February 2008 confirming the Reduction of Capital as part of
the scheme of arrangement under section 425 of the Companies Act 1985 to effect
the recommended cash acquisition by Nike Vapor of the entire issued and to be
issued share capital of Umbro (the "Scheme") on the terms set out in a circular
Umbro sent to its shareholders on 23 November 2007 (the "Scheme Document") has
today been registered by the Registrar of Companies. Accordingly, the Scheme has
now become effective in accordance with its terms.


Umbro has written to the United Kingdom Listing Authority to request that the
listing of the Shares on the Official List be cancelled and to the London Stock
Exchange to request that the Shares cease to be admitted to trading on the
London Stock Exchange's main market for listed securities, in each case with
effect from 8.00 a.m. tomorrow. The Shares were suspended from listing on the
Official List and from trading on London Stock Exchange's main market for listed
securities, in each case at or about 7.30 a.m. on 29 February 2008.

The cash consideration will be despatched no later than 17 March 2008.

Capitalised terms used (but not defined) in this announcement have the same
meanings as in the Scheme Document unless the context requires otherwise.

All times referred to in this announcement are references to London time.

Enquiries:

NIKE, INC.                            
Nigel Powell, Vice President of Global Communications     Telephone: +1 503 671 6758
Charlie Brooks, UK Head of Corporate Communications       Telephone: +44 20 7432 6390 or 
                                                                     +44 77 1472 4995
Massimo Giunco, EMEA Head of Corporate Communications     Telephone: +31 35 626 6980 or
                                                                     +31 64 6372 512
Alan Marks, Global Director of Media Relations            Telephone: +1 503 671 2673
Pamela Catlett, Vice President, Investor Relations        Telephone: +1 503 671 4589

MERRILL LYNCH                                 
(Financial Adviser and Corporate Broker to Nike   
and Nike Vapor)                                      
UK                                                        Telephone: +44 20 7628 1000
Kevin J. Smith
Andrew Osborne (Corporate Broking)         
US                                                        Telephone: +1 212 449 1000
Lisa Clyde
Alan Goodstadt

Citigate Dewe Rogerson                                    Telephone: +44 20 7638 9571
(PR Adviser to Nike)
Patrick Donovan
Simon Rigby

UMBRO PLC                                                 Telephone: +44 161 492 2000
Gary Brown, CFO

JPMorgan Cazenove                                         Telephone: +44 20 7588 2828
(Financial Adviser to Umbro)
Luke Bordewich

Brunswick                                                 Telephone: +44 20 7404 5959
(PR Adviser to Umbro)
Simon Sporborg
Dominic McMullan

This announcement is not intended to and does not constitute or form any part of
an offer or invitation to sell or subscribe for or purchase any securities or
the solicitation of any vote or approval in any jurisdiction pursuant to the
Transaction or otherwise. The Scheme Document contains the full terms and
conditions of the Transaction.

Merrill Lynch is acting exclusively for Nike and Nike Vapor and no-one else in
connection with the Transaction and will not be responsible to anyone other than
Nike and Nike Vapor for providing the protections afforded to clients of Merrill
Lynch or for providing advice in relation to the Transaction or any other
matters referred to in this announcement.


JPMorgan Cazenove is acting exclusively for Umbro and no-one else in connection
with the Transaction and will not be responsible to anyone other than Umbro for
providing the protections afforded to clients of JPMorgan Cazenove or for
providing advice in relation to the Transaction or any other matters referred to
in this announcement.


The distribution of this announcement in jurisdictions other than the UK may be
restricted by law and therefore any persons who are subject to the laws of any
jurisdiction other than the UK should inform themselves about, and observe, any
applicable requirements. This announcement has been prepared for the purpose of
complying with English law and the 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 the UK.






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

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