INTQ Internetq

TIDMINTQ

RNS Number : 8683T

Toscafund Asset Management LLP

01 April 2016

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 OR REGULATIONS OF SUCH JURISDICTION

1 APRIL 2016

RECOMMENDED CASH OFFER

FOR

INTERNETQ PLC

BY

DMWSL 805 LIMITED

NOTICE OF COMPULSORY ACQUISITION of internetQ shares

On 4 March 2016, DMWSL 805 Limited ("Bidco") published an offer document setting out the terms and conditions of a recommended cash offer for the entire issued and to be issued ordinary share capital of InternetQ plc ("InternetQ") not already owned, or agreed to be acquired, by Bidco at a price of 180 pence per InternetQ Share, to be implemented by means of a takeover offer within the meaning of Part 28 of the Companies Act 2006 (the "Offer") (the "Offer Document"). On 23 March 2016, Bidco announced that the Offer was unconditional in all respects.

As at 1.00 p.m. on 31 March 2016, Bidco had received valid acceptances of the Offer in respect of 13,431,285 InternetQ Shares (representing approximately 33.25 per cent. of the issued InternetQ Shares) and Bidco had acquired a further 25,405,827 InternetQ Shares (representing approximately 62.90 per cent. of the issued InternetQ Shares). Accordingly, as at 1.00 p.m. on 31 March 2016, Bidco had received valid acceptances of the Offer in respect of or had acquired, in aggregate, 38,837,112 InternetQ Shares (representing approximately 96.15 per cent. of the issued InternetQ Shares), and Bidco had acquired or unconditionally contracted to acquire approximately 91.85 per cent. of the InternetQ Shares to which the Offer relates. As a result, Bidco announces that it is exercising its right under section 979 of the Companies Act 2006 to compulsorily acquire any InternetQ Shares that have not been assented to the Offer, and compulsory acquisition notices will be sent to the relevant InternetQ Shareholders in due course.

InternetQ Shareholders may still accept the Offer, which remains open for acceptance until further notice, in accordance with the procedure for acceptance set out in the Offer Document.

Terms used but not defined in this announcement shall have the meaning given to them in the Offer Document.

Enquiries:

Toscafund Asset Management LLP

Nigel Gliksten

Tel: +44(0) 207 845 6100

Whitman Howard Limited (financial adviser to Bidco)

Nick Lovering/Ranald McGregor-Smith

Tel: +44(0) 207 659 1234

Whitman Howard Limited is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Whitman Howard Limited is acting as financial adviser exclusively for Toscafund Asset Management LLP and Bidco and for no-one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters referred to in this announcement and will not be responsible to anyone other than Toscafund Asset Management LLP and Bidco for providing the protections afforded to clients of Whitman Howard Limited, nor for providing advice in relation to any matter referred to herein.

This announcement is for information purposes only. It is not intended to and does not constitute, or form part of, an offer or invitation or the solicitation of any offer to sell or purchase any securities or the solicitation of any offer to otherwise acquire, subscribe for, sell or otherwise dispose of any security pursuant to the Offer or otherwise. The Offer is being made solely by means of the Offer Document and, in respect of InternetQ Shares held in certificated form, the Form of Acceptance, which contain the full terms and conditions of the Offer, including details of how the Offer may be accepted. Any decision in respect of, or other response to, the Offer should be made only on the basis of the information contained in those documents.

This announcement does not constitute a prospectus or prospectus equivalent document.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

April 01, 2016 05:04 ET (09:04 GMT)

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