Print          More announcements

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 UKRD)	020 7149 6000
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.

ENDOUPAIMFTMMMBBTL