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Hodder To Buy Quercus

Posted at 7:55AM Tuesday 25 Mar 2014

Hachette UK and Quercus have reached agreement on the terms of a recommended cash offer to be made by Hodder (a wholly-owned subsidiary of Hachette UK) for the entire issued and to be issued share capital of Quercus (the "Offer").

· Under the terms of the Offer, Quercus Shareholders will be entitled to receive 60 pence in cash for each Quercus Share (the "Offer Price").

· The Offer values the entire issued and to be issued share capital of Quercus on a fully diluted basis at approximately £12.6 million

· The Offer is proposed to be implemented by way of a takeover offer within the meaning of Part 28 of the Companies Act 2006 (the "Act").

· The cash consideration payable by Hodder under the Offer will be funded out of the cash resources under the direct control of the Hachette UK Holdings Group.



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