Offer Update (6805U)
20 October 2010 - 7:31PM
UK Regulatory
TIDMNPN TIDMDDT
RNS Number : 6805U
Nippon Telegraph and Telephone Corp
20 October 2010
Not for release, publication or distribution, in whole or part,
in, into or from any jurisdiction where to do so would constitute a
violation of the relevant laws in that jurisdiction
20 October 2010
Recommended Cash Offer
for
Dimension Data Holdings plc ("Dimension Data")
by
Nippon Telegraph and Telephone Corporation ("NTT")
Offer Consideration - ZAR Conversion Rate and Settlement
On 11 October 2010, NTT announced that the recommended cash
Offer by NTT for the entire issued and to be issued ordinary share
capital of Dimension Data had been declared wholly
unconditional.
ZAR Conversion Rate
For Dimension Data Shareholders who hold Dimension Data Shares
which are registered on Dimension Data's South African Branch Share
Register, the rate of conversion of the Offer Consideration into
ZAR is calculated on the basis set out in the Offer Document.
For those Dimension Data Shareholders who have accepted the
Offer in respect of SA Dimension Data Shares after 12.00 noon
(London time) on 8 October 2010, and before 12.00 noon (London
time) on 18 October 2010, NTT announces that the conversion of the
Offer Consideration into ZAR will be calculated using the average
pound sterling/ZAR rate of ZAR 10.97082 for each GBP 1.00, being
the equivalent of 13.16498 ZAR per Dimension Data Share.
Settlement of Consideration
Settlement of the consideration due under the Offer will be
effected by 17.00 (London time) on 25 October 2010 in respect of
Dimension Data Shares for which valid acceptances of the Offer have
been received prior to 12.00 noon (London time) on 18 October
2010.
Defined terms used but not defined in this announcement have the
same meanings as in the Offer Document.
- Ends -
For further information:
NTT - Global Business Strategy Office Telephone: +81 3 5205
5191
The Offer will be made in the United States in reliance on, and
compliance with, Section 14(e) of the Exchange Act and Regulation
14E thereunder. The Offer will not be extended to, and may not be
accepted by, holders of Dimension Data's American Depositary
Receipts.
The Offer relates to the shares of a UK company and will be
governed by English law. The Offer will primarily be subject to the
disclosure requirements and practices applicable in the UK to
takeover offers, which may differ from the disclosure requirements
of the SRP and the United States. Furthermore, the payment and
settlement procedures with respect to the Offer will comply with
the relevant United Kingdom rules, which differ from United States
payment and settlement procedures.
Publication on Website
A copy of this announcement will be made available, free of
charge, on NTT's website at (http://www.ntt.co.jp/ir/index_e.html)
by no later than 12.00 noon (London time) on 21 October 2010.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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