Inmarsat Ventures plc (Inmarsat) wishes to announce that the Court Meeting and Extraordinary General Meeting convened to vote on the offer by Grapeclose Limited for all the issued share capital of Inmarsat were held on Monday 1 December 2003.
Inmarsat shareholders representing approximately 97% of the shares voted at the meetings approved the resolutions required to accept the offer, announced on 16 October 2003 by Grapeclose Limited, a company formed at the direction of funds respectively advised by Apax Partners and Permira.
The offer was made by way of a Scheme of Arrangement under Section 425 of the Companies Act 1985 and Court approval will be sought on 16th December. The Scheme is expected to become effective on Wednesday 17th December 2003.
The directors of Inmarsat Ventures plc accept responsibility for the information contained in this announcement and, to the best of their knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
