Accordingly, having received valid acceptances of the Offer in respect of over 90 per cent. in value of the IPE Holdings shares to which the Offer relates, ICE Inc. intends to give notice to those IPE Holdings shareholders who have not yet accepted the Offer informing them that it will compulsorily acquire their IPE Holdings shares by implementing the procedure under sections 428 to 430F of the Companies Act 1985.
As at 11 January 2001 (being the day immediately prior to commencement of the Offer Period) and on 28 June 2001 (being the last practicable date prior to this announcement), the members of ICE Inc., or companies associated with members of ICE Inc. (which are each deemed to be acting in concert with ICE Inc. for the purposes of the Offer) were interested in 1,127,944 shares in IPE Holdings, representing approximately 9.9 per cent. of the issued share capital of IPE Holdings. ICE Inc. has received acceptances of the Offer in respect of 1,127,943 of these 1,127,944 IPE Holdings shares and such acceptances are included in the total number of valid acceptances reported above.
Save as disclosed above, neither ICE Inc. nor any person acting, or deemed to be acting, in concert with ICE Inc. held any IPE Holdings shares (or rights over such shares) prior to the commencement of the Offer Period and neither ICE Inc., nor any person acting, or deemed to be acting, in concert with ICE Inc., has acquired or agreed to acquire any IPE Holdings shares or rights over IPE Holdings shares during the Offer Period (other than pursuant to acceptance of the Offer).
The expressions used in this announcement shall, unless the context otherwise requires, bear the same meanings as in the Offer Document posted by ICE Inc. to IPE Holdings shareholders on 5 May 2001.
