Application: MS WORD
10 Snow Hill London EC1A 2AL +44 (0)20 7295 3000 | www.traverssmith.com
UKMATTERS:39974683.2
UKMATTERS:39974683.6
DATED 30 June 2016
(1) NEWS CORP UK & IRELAND LIMITED
(2) WIRELESS GROUP PLC
__________________________________
CO-OPERATION AGREEMENT
__________________________________
UKMATTERS:39974683.6
TABLE OF CONTENTS
Page
1. Interpretation ......................................................................................................................... 3
2. Publication of the Announcement and the terms of the Acquisition .................................... 7
3. Undertakings in relation to satisfaction of the Conditions .................................................... 7
4. Offer Document .................................................................................................................... 10
5. Code ...................................................................................................................................... 10
6. Termination .......................................................................................................................... 11
7. Directors' and officers' insurance ......................................................................................... 11
8. Warranties ............................................................................................................................ 12
9. Notices .................................................................................................................................. 12
10. Remedies and waivers .......................................................................................................... 14
11. Variation ............................................................................................................................... 14
12. Invalidity ............................................................................................................................... 14
13. Entire agreement .................................................................................................................. 15
14. Language............................................................................................................................... 15
15. Contracts (Rights of Third Parties) Act 1999 ........................................................................ 15
16. Assignment ........................................................................................................................... 15
17. Costs and expenses .............................................................................................................. 15
18. Further assurance ................................................................................................................. 16
19. Counterparts ......................................................................................................................... 16
20. Governing law and jurisdiction ............................................................................................. 16
Schedule 1 Form of Announcement .................................................................................................. 19
UKMATTERS:39974683.2
UKMATTERS:39974683.6
THIS AGREEMENT is made on 30 June 2016
BETWEEN:
(1) NEWS CORP UK & IRELAND LIMITED, a company incorporated in England and Wales with
company number 00081701 and whose registered office is at 1 London Bridge Street,
London, SE1 9GF United Kingdom ("News");
(2) WIRELESS GROUP PLC, a company incorporated in Northern Ireland with company
number NI065086 and whose registered office is at Ormeau Road, Belfast, Co Antrim,
BT7 1EB United Kingdom ("Wireless"),
together referred to as the "Parties" and each as a "Party" to this Agreement.
RECITALS:
(A) News proposes to announce (either itself of through a direct or indirect wholly owned
subsidiary) an intention to make a recommended offer for the entire issued and to be
issued ordinary share capital of Wireless (the "Acquisition") on the terms and subject to
the conditions set out in the Announcement.
(B) It is intended that the Acquisition will be effected by way of a contractual takeover offer
under the Code and within the meaning of Part 28 of the Act (the "Offer"). News has,
however, reserved the right, as set out in the Announcement, to elect to implement the
Acquisition by way of a court-sanctioned scheme of arrangement pursuant to Part 26 of
the Act (a "Scheme").
(C) The parties have agreed to take certain steps to effect the completion of the Acquisition
and wish to enter into this Agreement to record their respective obligations relating to
certain such matters.
IT IS AGREED as follows:
1. INTERPRETATION
1.1 in this Agreement each of the following words and expressions shall have the following
meanings:
"Acquisition" has the meaning given in Recital (A);
"Act" means the UK Companies Act 2006, as amended from
time to time;
"Announcement" means the announcement detailing the terms and
conditions of the Acquisition to be made pursuant to
Rule 2.7 of the Code, in substantially the form set out
in Schedule 1 (2.7 Announcement).
"Business Day" means a day, other than an English or Irish public
holiday, Saturday or Sunday, when banks are open in
London and Dublin for general banking business;