I hold a few of these - has been very quiet and not a trade but a longer term play on possibility of M+A. It used to be a cheap way into Autonomy


ains :-))


ENIC plc ("ENIC" or "the Company")

Offer approach

The Company has received an approach which may or may not lead to an offer for
the entire issued share capital of the Company.

A further announcement will be made as soon as practicable.


Shares opened at 24.5p - sold at 41p + special cert = profit 67.3%

KONDAR LIMITED AND ENIC PLC, 1 APRIL 2003


THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR
INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN


Recommended cash offer to acquire ENIC plc ('ENIC')
made by Shore Capital and Corporate Limited
on behalf of Kondar Limited ('Kondar')

Acceptances at first closing date and extension of the Offer


Kondar announces that, as at 3.00 p.m. on 31 March 2003, the first closing date
of the Offer, valid acceptances of the Offer had been received in respect of
76,421,677 ENIC Shares representing 75.87 per cent. of the issued share capital
of ENIC. Since the Offer was made on 10 March 2003, Kondar has purchased
5,852,460 ENIC Shares representing 5.81 per cent. of the issued share capital of
which, for the purposes of Rule 10 of the City Code, 5,752,460 ENIC Shares
(representing 5.71 per cent. of the issued share capital) are currently counted
towards the acceptance condition. Accordingly, for the purposes of the Offer,
Kondar owns or has received acceptances to accept the Offer in respect of a
total of 82,174,137 ENIC Shares representing 81.58 per cent. of the issued share
capital.



Prior to the commencement of the Offer Period on 24 February 2003 Kondar owned
no ENIC Shares. Persons deemed to be acting in concert with Kondar for the
purposes of the Offer held 52,029,914 ENIC Shares representing 51.66 per cent.
of the issued share capital of ENIC. Valid acceptances of the Offer have been
received in respect of all of these ENIC Shares.



Save as referred to above, neither Kondar nor any person acting or deemed to be
acting in concert with Kondar for the purposes of the Offer held any ENIC Shares
or rights over such shares prior to the commencement of the Offer Period on 24
February 2003 and none of these have acquired or agreed to acquire any such
shares (or rights over such shares) during the Offer Period and no acceptances
have been received from any persons acting or deemed to be acting in concert
with Kondar for the purposes of the Offer.



The Offer, which was declared wholly unconditional on 28 March 2003, has been
extended and will remain open for acceptances received no later than 3.00 p.m.
on 14 April 2003. ENIC Shareholders who wish to accept the Offer and have not
yet done so are strongly encouraged to return their completed Forms of
Acceptance in accordance with the instructions printed thereon as soon as
possible. Additional Forms of Acceptance are available from Computershare
Investor Services PLC (telephone 0870 702 0100). Holders of ENIC Shares in
uncertificated form are strongly encouraged to send (and CREST sponsored members
procure that their CREST sponsor sends) to CRESTCo a TTE instruction in relation
to such shares.



Unless the context otherwise requires, the definitions contained in this
announcement are the same as those used in the document containing the Offer
dated 10 March 2003.



1 April 2003

having taken the money on half my holding it's now time to take the rest ..... the bidder has around 95% acceptances and will be taking the others through the courts if nec .... time to take the profits and reinvest. May as well go direct and get the 40p and no expenses ......


ains :-))

Kondar are now claiming oover 90% .... I received the money from my first acceptance which I put into Tads:-)) ..... waiting on the money from the 2nd acceptance



ains

LONDON (AFX) - Kondar Ltd said that as at 3.00 pm yesterday, it either owned or had received valid acceptances in respect of a total of 97.293 mln shares or a 96.59 pct stake under its recommended cash offer for ENIC PLC.
In a statement, the company said it is issuing to ENIC shareholders who have not yet validly accepted the Offer, formal notices to acquire their shares compulsorily.

Hmmmmmmm ...... just received a cheque for my last 25K Enic shares ..... always amazes me just how many of these cheques arrive during a long bank holiday weekend or Saturday morning.

Also received the 'form of cerificate' for the special additional payment related to a future disposal of spurs shares by the new company. A multi page document accompanies the certificate but is somewhat less than clear on what the relevant action period actually is .... oh well .... back to looking at the original documents concerning the bid offer and checking with brokers to see if my nominee holdings also received the certificate .... is it worth the bother?


ains