N Brown Group plc ("N Brown" or the "Company") confirms that, further to yesterday's announcement regarding the proposal to return 27 pence per existing ordinary share, equivalent to approximately £80 million, to shareholders, it is today posting a circular to shareholders with further details of the proposed return of value and convening an Extraordinary General Meeting, to be held at 12 noon on 21 February 2007, to obtain all necessary shareholder approvals for its implementation.
The Company has forwarded copies of the circular to the Financial Services Authority pursuant to Listing Rule 9.6.1 and copies will shortly be made available to the public for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS (Telephone: + 44 (0)20 7066 1000).
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
| Latest time and date for receipt of forms of proxy for the Extraordinary General Meeting |
12.00 noon on 19 February 2007 |
| Extraordinary General Meeting |
12.00 noon on 21 February 2007 |
| Latest time and date for dealings in existing ordinary shares. Existing ordinary share register closes and existing ordinary shares disabled in CREST. |
5.00 p.m. on 21 February 2007 |
| Record date for the return of value and the share capital consolidation |
5.00 p.m. on 21 February 2007 |
| B share issue date |
8.00 a.m. on 22 February 2007 |
| New ordinary shares admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities; dealings in new ordinary shares commence; enablement in CREST |
8.00 a.m. on 22 February 2007 |
| New ordinary shares credited to CREST accounts |
8.00 a.m. on 22 February 2007 |
| Despatch of share certificates in respect of new ordinary shares |
Week commencing 26 February 2007 |
| Latest time and date for receipt of white forms of election and USE instructions in respect of B share alternatives |
5.00 p.m. on 27 February 2007 |
| Credit Suisse makes the purchase offer by means of an announcement on the Regulatory News Service of the London Stock Exchange |
8.00 a.m. on 1 March 2007 |
| Purchase of B shares by Credit Suisse to be completed and Credit Suisse to be registered as the holder of such B shares |
By 11.59 p.m. on 1 March 2007 |
| Dividend record date |
7.30 a.m. on 2 March 2007 |
| Single B share dividend declared and B shares automatically convert into deferred shares |
8.00 a.m. on 2 March 2007 |
| Despatch of cheques or CREST accounts credited in respect of the purchase of B shares by Credit Suisse, the single B share dividend and fractional entitlements |
12 March 2007 |
Notes:
1) References to time in this announcement are to London time
2) If any of the above times or dates should change, the revised times and/or dates will be notified to shareholders by an announcement through the Regulatory News Service of the London Stock Exchange
3) All of the events in the above timetable following listing are conditional on listing
Credit Suisse Securities (Europe) Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting as financial adviser and corporate broker to N Brown and is acting for no-one else in connection with the return of value, the purchase offer or any other matter referred to in this announcement, and will not be responsible to anyone other than N Brown for providing the protections afforded to customers of Credit Suisse Securities (Europe) Limited nor for providing advice to any other person in relation to the return of value, the purchase offer or any other matter referred to in this announcement.
Enquiries:
N Brown Group plc: 0161 238 2202
Alan White, CEO
Dean Moore, CFO
Credit Suisse: 020 7888 8888
John Hannaford
Gavin Anderson: 020 7554 1400
Fergus Wylie
