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Lerner Announcement On AVFC

Lerner Announcement On AVFC

Recommended Cash Offer for Aston Villa plc ('Aston Villa') by Reform Acquisitions Limited ('RAL')

Level of acceptances

RAL announces that as at 5.00 p.m. (London time) on 24 August 2006, valid acceptances had been received in respect of 6,834,061 Aston Villa Shares, representing approximately 59.69 per cent. of Aston Villa's issued share capital to which the offer relates (being 11,449,245 Aston Villa Shares).

Prior to the announcement of the Offer on 14 August 2006, RAL had received irrevocable undertakings to accept the Offer in respect of 6,508,423 Aston Villa Shares, representing approximately 56.85 per cent. of the issued share capital of Aston Villa.

Valid acceptances of the Offer have been received in respect of 6,312,023 Aston Villa Shares representing approximately 55.13 per cent. of the issued share capital of Aston Villa pursuant to these irrevocable undertakings.

RAL holds an irrevocable undertaking to accept the Offer (on the terms set out in the Offer Document) from Peter Ellis in respect of 196,400 Aston Villa Shares, representing 1.72 per cent. of the issued share capital of Aston Villa.

Neither RAL nor any person acting in concert with RAL for the purposes of the Offer held any Aston Villa Shares (or rights over such shares) before 19 September 2005, the first day of the Offer Period, nor has any such person acquired or agreed to acquire any such shares (or rights over such shares) since the commencement of the Offer Period.

The first closing date of the Offer is 4 September 2006. On 5 September 2006, RAL will make a further announcement in accordance with Rule 17 of the City Code.

Terms used in this announcement shall have the meaning given to them in the Offer Document dated 14 August 2006.

Seymour Pierce Limited, which is authorised and regulated in the United Kingdom by theFinancial Services Authority is acting for RAL in connection with the Offer and no one else and will not be responsible to anyone other than RAL for providing the protections afforded to clients of Seymour Pierce nor for providing advice in relation to the Offer or any matter referred to herein.

This announcement is not intended to and does not constitute or form any part of, an offer to sell or an invitation to purchase or the solicitation of an offer to subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise. The Offer will be made solely through the Offer Document and the Form of Acceptance, which will together contain the full terms and conditions of the Offer, including details of how to accept the Offer. Any acceptance or other response to the Offer should be made only on the basis of the information contained in the Offer Document and the Form of Acceptance.

The distribution of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about, and observe, any applicable requirements. In particular, the Offer is not being made, directly or indirectly, in the United States, Canada, Australia or Japan. This announcement has been prepared for the purpose of complying with English law and the Code and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside England.

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Writer:J P Fear
Date:Friday August 25 2006
Time: 8:00AM

Comments

0
ok - what does this mean in layman terms - has he still got to get 75% ..and by when ? Does he own the club yet ?
qKing
25/08/2006 08:50:00
0
He's the majority shareholder, same as Ellis was before. If he wants sole ownership then he needs 75% but he will get that in time no trouble. 6 days left to open his wallet up! Think the quality of the signings will show us which way we are going.
DeanoVilla
25/08/2006 10:27:00
0
The best read I've experienced in a long, long, while.
glensider
25/08/2006 13:26:00
0
I am concerned that with only 3% returned from the minority shareholders in the last 10 days, it is going to be an uphill struggle to pull-in another 15% before the specified deadline within the next 10 days. I'm not sure where that leaves us, except I can't see how MON can add to the squad as has been reported on the AV website.
villacross
26/08/2006 02:02:00
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