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MORGAN AND BANKS LIMITED (ASX.MBK)

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19981999

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delisted pursuant to Listing Rule 17.11 following completion of the Scheme of Arrangement with TMP Worldwide Inc.

17/03/1999

we understand TMP issued 5,450,000 shares (approximately $314 million) to acquire Morgan and Banks - each shareholder in Morgan & Banks transferred their shares to TMP and received A$4.65 in TMP shares (evidently the number of TMP shares transferred was calculated based on the average of the closing selling prices for TMP stock over the 20 business days immediately preceding the date of the allotment with the US$/A$ exchange rate being that which applied on the date of allotment)

17/03/1999
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