PRA Praesepe

TIDMPRA TIDMMMP

RNS Number : 3064K

Praesepe PLC

13 July 2011

13 July 2011

Praesepe plc

("Praesepe" or "the Company" or "the Group", AIM:PRA)

Compulsory acquisition of outstanding shares

Following the all-share offer for Praesepe (the "Offer") by Marwyn Management Partners plc ("MMP") the independent committee of the Board ("Board") notes that MMP announced on 13 July 2011 that it owns or has received valid acceptances in respect of approximately 92.54 per cent of the Praesepe Shares to which the Offer relates.

MMP has, in accordance with its intentions as announced on 24 June 2011, notified the Board that it will, as soon as reasonably practicable, apply the provisions of the Companies Act 2006 to acquire compulsorily any outstanding Praesepe Shares in the Company on the same terms as the Offer. The Offer will remain open until further notice.

It was also announced on 24 June 2011 that the Board has applied to the London Stock Exchange for the cancellation of trading in the Company's ordinary shares on AIM on 25 July 2011. Consequently, the last day of trading in Praesepe Shares on AIM will be 22 July 2011.

For these reasons, the Board recommends that any Shareholders who have not yet done so, now accept the Offer.

- Ends -

For more information please contact:

 
 Enquiries: 
------------------------------------------------------------------ 
 Praesepe plc                                 Tel: +44 (0) 7970 
  Nick Harding, Chief Executive Officer        148 000 
  Matthew Proctor, Chief Financial Officer     Tel: +44 (0) 7985 
                                               116 578 
-------------------------------------------  --------------------- 
 Liberum Capital Limited (Nominated Adviser   Tel: +44 (0) 20 3100 
  and Broker)                                  2222 
  Chris Bowman 
  Richard Bootle 
-------------------------------------------  --------------------- 
 Brunswick                                    Tel: +44 (0)20 7404 
  Chris Blundell                               5959 
  Claire Boszko 
-------------------------------------------  --------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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