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TUI extends CP Ships Offer Regulatory approvals obtained in Canada and the U.S.
| 07.10.05 Hanover, Germany & Gatwick, UK (07 October 2005) - TUI AG and CP Ships Limited jointly announced today that TUI has extended its Offer dated August 30, 2005 for 100 per cent of the CP Ships common shares. The Offer is now open for acceptance until 6:00 p.m. (Eastern time) on October 18, 2005, unless further extended or withdrawn. TUI has extended its Offer in order to allow time for, among other things, the satisfaction of the condition under its Offer relating to the receipt of necessary regulatory approvals. As of October 7, 2005, the original expiry date under the Offer, regulatory approvals have been obtained or waiting periods expired under the Investment Canada Act and competition legislation in Canada and the U.S. Regulatory review periods have not expired yet under competition legislation in the EU and certain other countries in which the companies carry on business. Except for this extension, the terms and conditions previously set forth in the Offer continue to be applicable in all respects. TUI has mailed a Notice of Extension to all holders of CP Ships shares or of options or rights to acquire CP Ships shares. TUI anticipates completion of the Offer in October, 2005. CP Ships shareholders are advised to read the Notice of Extension, the Offer and Circular, the Directors' Circular and related documents which have been filed with the Canadian securities commissions and the United States Securities and Exchange Commission as they contain important information. Shareholders may obtain a copy of the material (when available) at the Canadian SEDAR web site at www.sedar.com and at the SEC's web site at www.sec.gov. |
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