Compulsory Acqn of Shares
October 10 2003 - 5:40AM
UK Regulatory
RNS Number:7598Q
Alphameric PLC
10 October 2003
Alphameric plc
10 October 2003
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA OR JAPAN
Recommended Offer by Investec Investment Banking on behalf of Alphameric plc for
Compass Software Group Plc
Compulsory acquisition of Compass Software Shares
Compulsory acquisition
The board of Alphameric plc ("Alphameric") announces that, as at 3.00 p.m. on 9
October 2003 valid acceptances of the Offer had been received in respect of more
than 90 per cent. of the existing issued share capital of Compass Software Group
Plc ("Compass").
Accordingly, the board of Alphameric has today commenced the procedure for the
compulsory acquisition of all outstanding Compass Shares under the provisions of
sections 428 to 430F of the Companies Act 1985 (as amended) (the "Act"). The
statutory notices will be posted today to Compass Shareholders who have not yet
validly accepted the Offer pursuant to section 429(4) of the Act. The compulsory
acquisition procedure is expected to be concluded on, or shortly after, 24
November 2003.
The Offer remains open for acceptance until the compulsory acquisition process
has completed. Alphameric urges Compass shareholders who have not yet accepted
the Offer to complete and return their Forms of Acceptance, in accordance with
the instructions printed thereon, whether or not their Compass Shares are in
CREST, as soon as possible.
Delisting
Futhermore, as stated in the Offer Document, Alphameric confirms that it intends
to procure that Compass applies to the London Stock Exchange for the
cancellation of admission to trading on AIM of Compass Shares. A further
announcement of the date when this cancellation is intended to take effect will
be made in due course.
The expressions used in this announcement, unless the context otherwise
requires, bear the same meaning as in the Offer Document dated 23 July 2003.
Enquiries:
Alphameric plc 01483 293986
Alan Morcombe, Group Chief Executive
Mike McLaren, Group Managing Director
Investec Investment Banking 020 7597 5970
Gareth Thomas, Director of Corporate Finance
Patrick Robb, Director of Corporate Broking
Weber Shandwick Square Mile 020 7067 0700
Nick Oborne
Susanne Walker
Investec Investment Banking, a division of Investec Bank (UK) Limited, which is
regulated in the United Kingdom by the Financial Services Authority, is acting
exclusively for Alphameric as financial adviser in relation to the Offer and is
not acting for any other person in relation to such Offer. Investec Investment
Banking will not be responsible to anyone other than Alphameric for providing
the protections afforded to its clients or for providing advice in relation to
the contents of this announcement or any arrangement referred to herein.
The Offer is not being made, directly or indirectly, in or into, or by the use
of the mails, or by any means of instrumentality (including without limitation,
facsimile transmission, electronic mail, telex or telephone) of interstate or
foreign commerce, or of any facility of a national securities exchange, of the
United States, Canada, Australia or Japan. Accordingly, copies of this
announcement and other documents relating to the Offer are not being, and must
not be, mailed or otherwise distributed or sent in or into or from the United
States, Canada, Australia or Japan and persons receiving such documents
(including custodians, nominees and trustees) must not distribute or send them
in or into or from such jurisdictions.
This information is provided by RNS
The company news service from the London Stock Exchange
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