Telecity says revised ratio expected around 10 November 2015 once final number of new Equinix shares to be issued under 2015 Special Distribution is known
Telecity Group PLC ("TelecityGroup") notes that the Board of Equinix, Inc ("Equinix") has declared a special distribution of USD 627.0 million to its common stockholders in connection with Equinix's conversion to a real estate investment trust (the "2015 Special Distribution") which is payable on 10 November 2015. As Equinix stockholders will be entitled to elect to receive payment of the 2015 Special Distribution in the form of stock or cash (with the total cash payment to all stockholders limited to no more than USD 125.4 million), in accordance with the terms of the announcement made by TelecityGroup and Equinix on 29 May 2015 regarding Equinix's recommended cash and share offer for TelecityGroup (the "Offer") the number of new Equinix shares that each TelecityGroup shareholder will be entitled to receive under the terms of the Offer will be subject to a pro rata adjustment upwards to reflect the equity component of the 2015 Special Distribution. This will ensure that the percentage of the Equinix group following completion of the Offer owned by Telecity shareholders is not changed by the 2015 Special Distribution. The revised ratio is expected to be announced on or around 10 November 2015 once the final number of new Equinix shares to be issued pursuant to the 2015 Special Distribution is known.