REG - TeleCity Group PLC Equinix, Inc - Update on Recommended Transaction with Equinix <Origin Href="QuoteRef">EQIX.O</Origin> <Origin Href="QuoteRef">TCY.L</Origin>

EquinixAnnouncement

11/11/2015 07:01

RNS Number : 2746F
Telecity Group PLC
11 November 2015
11 November 2015 
TELECITY GROUP PLC
TelecityGroup Update on Recommended Transaction with Equinix
Telecity Group plc ("TelecityGroup") notes that on 10 November 2015 Equinix, Inc ("Equinix") paid a special distribution of US$627.0 million to its common stockholders in connection with Equinix's conversion to a real estate investment trust (the "2015 Special Distribution"). This special distribution was originally announced by Equinix on 28 September 2015.
The amount of shares distributed was determined based upon common stockholder elections and the average closing price on the three trading days commencing 3 November 2015. 
In accordance with the terms of the Rule 2.7 Announcement made by TelecityGroup and Equinix on 29 May 2015 regarding Equinix's recommended cash and share offer for TelecityGroup (the "Offer"), the number of new Equinix shares that each TelecityGroup shareholder will be entitled to receive under the terms of the Offer has been subject to an upwards pro rata adjustment to reflect the share component of the 2015 Special Distribution to ensure that the percentage of the Equinix group held by TelecityGroup shareholders following completion of the Offer remains unchanged. Following the adjustment, TelecityGroup shareholders ownership of the combined group will remain approximately 10.1% of the total issued share capital of Equinix as previously announced. 
The ratio has been revised such that each TelecityGroup shareholder will be entitled to receive:
For each TelecityGroup share: 572.5 pence in cash; and
 0.0336 New Equinix Shares
There is no further update on the Offer at this stage.
Unless the context otherwise requires, terms used but not otherwise defined in this announcement will have the meaning given to them in theRule 2.7 Announcement made by TelecityGroup and Equinix on 29 May 2015.
For further information, please contact:
TelecityGroup:
Investors 
Rosie Wilkins  +44 (0)20 3229 1138
Brunswick:
Media
Sarah West/Aideen Lee +44 (0)20 7404 5959
Notes to Editors
Telecity Group PLC
TelecityGroup is a leading European data centre provider, operating facilities in city locations across Europe.
TelecityGroup's data centres provide secure and highly-connected environments for the IT and telecoms equipment that powers the digital economy. Its data centres are enabling environments in which the separate networks that make up the internet meet and where bandwidth intensive applications, content and information are hosted. 
TelecityGroup's customers are the networks and providers of content, applications and data that make up the internet. Customers choose TelecityGroup because of its high-quality infrastructure and service standards, connectivity options and capacity to support their future growth. 
Telecity Group PLC is listed on the London Stock Exchange (LSE: TCY).
www.telecitygroup.com/investor-centre/investor-centre-home.htm
Neither the content of the website referred to in this announcement nor the content of any other websites accessible from hyperlinks on that website is incorporated into, or forms part of, this announcement.
Directors' responsibility statement
The Directors of TelecityGroup accept responsibility for the information contained in this document. To the best of the knowledge and belief of the Directors (who have taken all reasonable care to ensure that such is the case), the information contained in this document is in accordance with the facts and does not omit anything likely to affect the import of such information.
Cautionary note regarding forward-looking statements 
This announcement contains statements which constitute "forward-looking statements". Forward-looking statements include any statements related to the proposed transaction and the expected benefits or estimated synergies resulting from a transaction with Equinix and are generally identified by words such as 'believe', 'expect', 'anticipate', 'intend', 'estimate', 'will', 'may', 'continue', 'should', and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of TelecityGroup, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. 
In addition, there can be no assurance that the proposed transaction with Equinix will be completed in a timely manner, or at all. TelecityGroup does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise, except to the extent legally required.
Other than where expressly indicated, no statement in this announcement is intended as a profit forecast or profit estimate and no statement in this announcement should be interpreted to mean that earnings per TelecityGroup or Equinix ordinary share for any period would necessarily match or exceed the historical published earnings per TelecityGroup or Equinix shares. 

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The company news service from the London Stock Exchange
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