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By 3.00 p.m. on 2 October 2000, the first closing date of the Offer, valid acceptances of the Offer had been received in respect of a total of 300,000 LSE Shares, representing approximately 1.0 per cent. of the issued ordinary share capital of LSE.
Per E. Larsson, President and Chief Executive Officer of OM, said: "When we launched our offer for LSE, we knew that the issues were complex, therefore we did not anticipate significant acceptances at this stage. In the discussions with the LSE shareholders and users which we have had across the country, we have made good progress. Our offer is now being recognised as the only opportunity to transform LSE, its technology, its management and its service levels.
Our offer has been extended for a further three weeks. In the meantime LSE has called an EGM for 19 October 2000 to amend its Articles to remove the 4.9 per cent. shareholding limit. We are concerned that LSE shareholders are being asked to vote on this important issue before they have been able to receive all material information from either LSE or OM regarding the offer. LSE claims it would not hide behind its Articles, yet the timing of this EGM seems to be designed to achieve just that.
LSE's Board has declined to give shareholders any recommendation on this important resolution. We urge shareholders to vote in favour of the changes."
As at 2 October 2000, Lazard or companies within its group deemed to be acting in concert with OM owned or controlled 200,000 LSE Shares, representing approximately 0.67 per cent. of the issued ordinary share capital of LSE.
Save as disclosed above, neither OM nor any person deemed to be acting in concert with OM held any LSE Shares immediately prior to the commencement of the offer period. Neither OM nor any person deemed to be acting in concert with OM has acquired or agreed to acquire any LSE Shares since the commencement of the offer period and no acceptances have been received from any person acting in concert with OM. Terms defined in the offer document have the same meanings when used herein unless the context requires otherwise.
LSE Shareholders who have not yet accepted the Offer and who wish to do so should despatch their Forms of Acceptance as soon as possible and, in any event, so as to be received not later than 3.00 p.m. on 23 October 2000.
