Further to its announcement on 30 May 2001, ICE Inc. is pleased to announce that all of the conditions of its recommended offer (the Offer) to acquire the issued and to be issued share capital of IPE Holdings have now been satisfied or waived and that the Offer is accordingly declared unconditional in all respects. The Offer remains open for acceptance until further notice. IPE Holdings shareholders who wish to accept the Offer but who have not yet done so should complete and return their Forms of Acceptance as soon as possible. If original Forms of Acceptance have been mislaid, further copies are available from Capita IRG Plc on telephone number +44 20 8639 2000.
As at 11 January 2001 (being the day immediately prior to commencement of the Offer Period) and on 15 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 1,127,942 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).
Registration of the ownership of the New ICE Shares to which any IPE Holdings shareholder is entitled under the Offer in respect of acceptances received no later than 3.00 p.m. on 15 June 2001, which are valid and complete in all respects, will be confirmed by despatch of a letter of confirmation of registration on or before 29 June 2001, and within fourteen days of the date of receipt of any further acceptances received after today's date and which are valid and complete in all respects.
As stated in the Offer Document, as and when ICE Inc. receives acceptances in respect of 90 per cent. Or more of the IPE Holdings shares, ICE intends to exercise its rights to acquire compulsorily any outstanding IPE Holdings shares to which the Offer relates by applying the provisions of sections 428 to 430F of the Companies Act 1985.
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.
