BRT Brightside

TIDMBRT TIDMTTM

RNS Number : 2473N

Brightside Group PLC

24 July 2014

24 July 2014

Not for release, publication or distribution, in whole or in part, in or into any jurisdiction where

to do so would constitute a violation of the relevant laws of such jurisdiction.

RECOMMENDED CASH ACQUISITION

of

BRIGHTSIDE GROUP PLC

by

BELVEDERE BIDCO LIMITED

a newly incorporated company indirectly owned by AnaCap Financial

Partners II, LP, a fund ultimately managed by AnaCap FP GP II Limited

which is advised by AnaCap Financial Partners LLP

(to be effected by means of a scheme of arrangement

Under Part 26 of the Companies Act 2006)

Court confirmation of Capital Reduction and Scheme Effective

Further to the announcement dated 22 July 2014 that the Court has sanctioned the Scheme, Brightside Group plc ("Brightside") is pleased to announce that at the Reduction Court Hearing this morning, the Court has made an order approving the Capital Reduction. The Scheme Court Order and the Reduction Court Order have now been delivered to the Registrar of Companies and, accordingly, the recommended acquisition of Brightside by Belvedere Bidco Limited ("Bidco") has now become effective in accordance with its terms.

Scheme Shareholders are entitled to receive 25 pence for every Scheme Share held. Cheques will be dispatched to Brightside Shareholders holding Scheme Shares in certificated form and the CREST accounts of Brightside Shareholders holding Scheme Shares in uncertifcated form will be credited by no later than 7 August 2014 (being 14 days from the Effective Date).

Following the application by Brightside to the London Stock Exchange, the cancellation of admission to trading of Brightside shares on AIM will take place at 7.00 a.m. (London time) on 25 July 2014.

Full details of the Offer are set out in the scheme document dated 20 May 2014 sent or made available to Brightside Shareholders on 20 May 2014 ("Scheme Document"). Capitalised terms used but not otherwise defined in this announcement have the meaning given to them in the Scheme Document.

A copy of this announcement will be available on Brightside's website at www.brightsidegroup.co.uk and AnaCap LLP's website (www.anacapfp.com).

For the avoidance of doubt, the content of the websites referred to above is not incorporated into and does not form part of this announcement.

 
 Enquiries: 
 
 Bidco and AnaCap                          Tel: +44 (0)207 
  Edward Green                              070 5250 
  Jatender Aujla 
 
 Macquarie Capital (Europe) Limited        Tel: +44 (0)203 
  (financial adviser to Bidco and           037 2000 
  AnaCap) 
  Jonny Allison 
  Steve Baldwin 
  Nicholas Harland 
 
 Brightside 
  Paul Williams                             Tel: +44 
  Paul Chase-Gardener                       (0)1454 636 
                                            353 
                                            Tel: +44 
                                            (0)1454 634 
                                            194 
 
 Cenkos (financial adviser and corporate   Tel: +44 (0) 
  broker to Brightside)                     20 7397 8900 
  Bobbie Hilliam 
  Harry Pardoe 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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