30 August 2006

 

WH Smith PLC

 

Scheme expected to become effective and trading expected to commence in shares of Smiths News PLC

 

All the conditions to the scheme of arrangement of WH Smith PLC (the "Scheme") in connection with the proposed separation of the WH Smith Retail business from the News business via a demerger have now been satisfied or are shortly expected to be satisfied.  The Scheme is expected to become effective shortly after 7.30am (BST) today.  At this time Smiths News PLC (“Smiths News”) will become the ultimate holding company for the WH Smith Group.

 

Consequently, WH Smith PLC shares are expected to be delisted and trading in Smiths News shares under the ticker ‘NWS’ is expected to commence on the London Stock Exchange at 8.00am (BST) today.  CREST accounts will be credited with Smiths News shares at 8.00am (BST) today. Shareholders will, on 8 September 2006, be sent share certificates in respect of their holdings in Smiths News.

 

The Demerger is expected to become effective at the close of business on 31 August 2006. It is expected that trading in New WH Smith shares will commence on 1 September 2006.  Until then, Smiths News PLC will be the ultimate holding company of the WH Smith Group comprising both the Retail business and the News business.

 

Enquiries:

 

WH Smith                                                                                                                       

Mark Boyle                        Investor Relations                                          020 7851 8820

Louise Evans                    Media Relations                                             020 7851 8850

 

 

The contents of this announcement have been issued by and are the sole responsibility of WH Smith PLC.

 

Greenhill & Co. International LLP, which is regulated in the UK by the Financial Services Authority, is acting for WH Smith PLC as financial adviser and sponsor and is acting for Smiths News PLC and New WH Smith PLC as sponsor in connection with the demerger and for no one else and will not be responsible to any other person for providing the protections afforded to its clients, or for providing advice in relation to the demerger.

 

This announcement is an advertisement and does not comprise a prospectus relating to Smiths News PLC or New WH Smith PLC.  It does not constitute or form part of any offer of securities, or constitute solicitation of any offer of securities.  You should not purchase or subscribe for securities referred to in this announcement except on the basis of information in the prospectuses published in relation to Smiths News PLC and New WH Smith PLC (and any supplement or amendment thereto).

 

This announcement does not constitute a recommendation concerning the demerger, and should not be construed as legal, business, tax or investment advice.  The value of shares can go down as well as up.  Past performance is not a guide to future performance. 

 

Shares in Smiths News PLC and/or New WH Smith PLC have not been and will not be registered under the United States Securities Act of 1933 (as amended) and will be issued in transactions that are exempt from or not subject to the registration requirements of such Act. In addition, shares in Smiths News PLC and/or New WH Smith PLC have not been and will not be registered under the securities laws of any state of the United States, and will be issued in reliance on available exemptions from such state law registration requirements.

 

ENDS