PR Newswire
London, January 24
Emblaze Ltd (LSE:BLZ) ("Emblaze" or "the Company") BGI Investments (1961) Ltd. Cash Offer Herzeliya, Israel, 24 January, 2014 Cash Offer Capitalised terms will have the meanings ascribed to them in the circular (the "Circular") published on 24 December, 2013 and sent to holders of Shares and Depositary Interests on 30 December 2013 setting out the terms of the Offer. Further to the Company's announcements of 24 December, 2013, 13 January, 2014 and 16 January, 2014, BGI has informed the Company that as at 1.00pm today (being the last time and date for receipt of Forms of Acceptance, TTE Instructions from Depositary Interest Holders and Tax Declaration Forms), a total of at least 43,097,977 Emblaze Shares from non-Interested Parties and 57,377 Emblaze Shares from Interested Parties have been tendered in connection with the Offer, representing in aggregate, approximately 39.24% of the issued Emblaze Shares. 23,766,166 shares of the Company were held by or on behalf of the BGI Group and Chabad 770 BV prior to the Offer Period, representing 21.59% of the share capital of the Company. Together with call options open to Chabad 770 BV, the Extended Group held (or held options in relation to) approximately 43,016,965 shares of the Company, representing 39.1% of the Existing Issued Share Capital. The number of acceptances exceed the number of Emblaze Shares to which the Offer relates and, having also been approved by a majority of those voting in relation to the Offer, BGI has informed the Company that the Offer has therefore become unconditional. Under Israeli law, those Shareholders who have not tendered their Emblaze Shares or Depository Interests have the right to tender their Emblaze Shares or Depository Interests pursuant to the Offer (by using the Form of Acceptance or by submitting the relevant TTE instructions, as the case may be and as set out in the Circular) during an Additional Acceptance Period which expires at 1.00pm on 28 January, 2014. If any non-tendering Shareholder or Depository Interest Holder accepts the Offer during the Additional Acceptance Period, such Shareholder or Depository Interest Holder will be deemed to have accepted the Offer. In the meantime, those Shareholders who have already accepted the Offer need do nothing and their acceptances will be treated in accordance with the terms set out in the Circular and the timetable set out below. Latest time and date for receipt of 1.00pm on 28 January, 2014 Forms of Acceptance, TTE Instructions from Depository Interest Holders and Tax Declaration Forms, in circumstances where there is an Additional Acceptance Period Outcome of Tender Offer announced by 8.00am on 29 January, 2014 following Additional Acceptance Period Cheques despatched for Emblaze Shares by 11 February, 2014 purchased pursuant to the Tender Offer and payment through CREST for Depository Interests purchased pursuant to the Tender Offer CREST accounts credited for revised by 11 February, 2014 holdings of Depository Interests; and TFE instructions to be made in CREST by 11 February, 2014 for the return of Depository Interests where a vote against the Offer has been made Despatch of balance share certificates by 11 February, 2014 for unsold Emblaze Shares The Company will continue to notify shareholders of any updates with regard to the Offer by issuing further announcements via PRN, a Regulatory Information Service. All such announcements may also be viewed at the same time on the Company's website at www.emblaze.com. Enquiries: Hagit Gal, Emblaze hagit.gal@emblaze.com The Emblaze Group has been traded on the London Stock Exchange (LSE: BLZ) since 1996.
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