SRV Sirvis

    RNS Number : 6794A
  North Atlantic Value LLP
  05 August 2008
   

                                            FORM 8.1                        
    DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES
    FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS
    (Rules 8.1(a) and (b)(i) of the Takeover Code)


    1.    KEY INFORMATION

 Name of person dealing (Note 1)                  NORTH ATLANTIC VALUE LLP
                                                   
 Company dealt in                                 SiRViS IT plc
                                                   
 Class of relevant security to which the          ORDINARY SHARES of 40p each 
 dealings being disclosed relate (Note 2)
  
 Date of dealing                                  4 August  2008


    2.    INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

    (a)    Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)

                                               Long                  Short

                                    Number       (%)             Number    (%)

 (1) Relevant securities             980,000        29.70      

 (2) Derivatives (other than
 options)

 (3) Options and agreements to
 purchase/sell

 Total                              980,000      29.70   



    (b)    Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)

 Class of relevant security:                      Long             Short

                                            Number       (%)  Number       (%)

 (1) Relevant securities 

 (2) Derivatives (other than options)

 (3) Options and agreements to
 purchase/sell

 Total                                      N/A








    (c)    Rights to subscribe (Note 3)

 Class of relevant security:  Details

 N/A


    3.    DEALINGS (Note 4)

    (a)    Purchases and sales

 Purchase/sale                   Number of securities                                             Price per unit (Note
                                                                                                  5)
 Sale                            980,000                                                          160p
 Purchase                        980,000                                                          160p
 This transaction, which has been undertaken, at the offer price of 160 pence per Ordinary SiRViS IT plc share, is a
 transfer from Oryx International Growth Fund Limited to Trident Private Equity Fund II LP both of which are funds
 managed or advised by North Atlantic Value LLP. 
 The Panel Executive has confirmed, on an ex parte basis, that these transactions have no Code consequences  


    (b)    Derivatives transactions (other than options)

 Product name,   Long/short (Note 6)  Number of securities  Price per unit (Note 5)
 e.g. CFD                             (Note 7)
 N/A




    (c)    Options transactions in respect of existing securities
    (i)    Writing, selling, purchasing or varying

 Product name,  Writing, selling,     Number of securities  Exercise  Type, e.g. American,  Expiry   Option money
 e.g. call      purchasing, varying   to which the option   price     European etc.         date     paid/received per
 option         etc.                  relates (Note 7)                                               unit (Note 5)

 N/A


    (ii)    Exercising

 Product name, e.g. call option  Number of securities  Exercise price per unit (Note 5)
 N/A


    (d)    Other dealings (including new securities) (Note 4)

 Nature of transaction (Note 8)  Details  Price per unit (if applicable) (Note
                                          5) 
 N/A


    4.    OTHER INFORMATION

    Agreements, arrangements or understandings relating to options or derivatives


 Full details of any agreement, arrangement or understanding between the
 person disclosing and any other person relating to the voting rights of any
 relevant securities under any option referred to on this form or relating to
 the voting rights or future acquisition or disposal of any relevant
 securities to which any derivative referred to on this form is referenced. If
 none, this should be stated.  



    Is a Supplemental Form 8 attached? (Note 9)                    NO


 Date of disclosure              5 August  2008
                                  
 Contact name                    Rachel Butlin
                                  
 Telephone number                020 7747 5680
                                  
 Name of offeree/offeror with    SiRViS IT plc (offeree) and SiRVis IT Holdings
 which associated                Limited (offeror)
                                  
 Specify category and nature of  Oryx International Growth Fund Limited and
 associate status (Note 10)      Trident Private Equity Fund II LP are deemed to
                                 be associates of the offeree due to their 29.7%
                                 ownership of the offeree.
                                 Oryx International Growth Fund Limited and
                                 Trident Private Equity Fund II LP are associates
                                 of the offeror due to their relationship with
                                 North Atlantic Value LLP. 


    Notes

    The Notes on Form 8.1 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk








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