ICAP PLC IAP Further re Acquisition of PLUS Stock Exchange plc

  ICAP PLC (IAP) - Further re Acquisition of PLUS Stock Exchange plc

RNS Number : 3888F
14 June 2012


              Further re. Acquisition of PLUS Stock Exchange plc


London, 14 June,  2012 -  ICAP plc,  the world's  leading interdealer  broker, 
notes the recent press coverage regarding its agreement to acquire PLUS  Stock 
Exchange plc ("PLUS") from PLUS Markets Group plc ("PMG") and the  frustration 
expressed by certain PMG shareholders.

ICAP has  already signed  the agreement  to acquire  PLUS from  PMG, and  that 
agreement has  been approved  by PMG's  Board and  is exclusive  and  binding, 
subject to a vote by PMG's shareholders on June 18^th and theapproval of  the 
FSA to  the  change  in  control  of  PLUS.  ^ICAP's  approach  followed  the 
announcement on May 14^th  by PMG that following  several years of losses  its 
process to find a buyer for the business had failed to result in a transaction
and that it had commenced a process of 'orderly closure'.

In the event that PMG's shareholders  do not vote to approve the  transaction, 
the  consequences  are  clear   and  have  been  set   out  in  PMG's   recent 
announcements. In the event the transaction  fails to complete by June  21^st, 
the FSA will commence the process as soon as possible to revoke the exchange's
recognition. At  that  point  the  winding down  of  the  market  will  become 
irreversible and PMG's shareholders  will bear the costs  of closing PLUS.  It 
will also cause significant  disruption and additional  cost to the  companies 
listed on the PLUS market.

ICAP  has  decided,  after  listening   to  the  concerns  expressed  by   PMG 
shareholders, to increase  the purchase  price for  PLUS to  £500,000. It  has 
required PMG to  confirm that the  sum will be  added to the  amounts of  cash 
available to the shareholders of PMG, for distribution or reinvestment.  This 
is intended to  insulate shareholders  from the costs  of certain  contractual 
payments triggered by the sale of PLUS.

ICAP is  fully committed  to continue  supporting and  expanding the  equities 
listings venue which provides growth capital for smaller companies as well  as 
exploring other  possibilities.  ICAP  has been  greatly  encouraged  by  the 
positive response  from  small  cap  issuers  and  sponsors  to  its  proposed 
acquisition. As an extremely experienced  market operator, ICAP is also  well 
positioned to  leverage  PLUS'  exchange  status to  offer  new  products  and 
solutions for its customers including, in time, listed derivatives.



Brigitte Trafford Director of Corporate Affairs +44 (0) 20 7050 7103
Neil Bennett      Maitland                      +44 (0) 20 7379 5151

About ICAP

ICAP is the world's leading interdealer broker and provider of post trade risk
and information  services.  The  Group  matches  buyers  and  sellers  in  the 
wholesale markets in interest rates, credit, commodities, FX, emerging markets
and equity derivatives through voice and electronic networks. Through our post
trade risk and information services we help our customers manage and  mitigate 
risks in their portfolios. For more information go to www.icap.com.

                     This information is provided by RNS
           The company news service from the London Stock Exchange


FURMMGMVMDMGZZM -0- Jun/14/2012 11:13 GMT
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