We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cyberview | LSE:CYBV | London | Ordinary Share | COM SHS USD0.001 (REGS) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 193.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 3524Y Cyberview Tech Inc 04 July 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO CANADA, AUSTRALIA OR JAPAN For immediate release 4 July 2008 CYBERVIEW TECHNOLOGY, INC. ("Cyberview" or the "Company") Result of Cyberview EGM and Notice of Cancellation of Admission to AIM Any terms used but not defined in this announcement are as defined in the Circular dated 13 June 2008. The Company is pleased to announce that all resolutions proposed at the Cyberview EGM held earlier today were duly passed. Consequently, the completion of the sale of the Company's entire business and operations (including cash balances but excluding certain assets and liabilities) to IGT, a wholly owned subsidiary of International Game Technology and the grant of an exclusive licence to certain of Cyberview's intellectual property are expected to occur on 8 July 2008. A summary timetable of events is noted below. Conditional upon Completion, the Directors intend to dissolve and wind up the Company and, as part of that process, distribute the net cash proceeds arising from the Transaction to Cyberview Shareholders in accordance with Delaware law. After allowing for liabilities, expenses and obligations (including an obligation to pay to a third party an amount equal to 25 per cent. of the licence fee to be paid pursuant to the Patent Licence), the anticipated costs of liquidation and the effect of the exercise or cancellation of outstanding options and warrants, the Directors remain of the view that, based upon their current knowledge, this process should lead to total distributions to Cyberview Shareholders of up to £34.7 million (equivalent to 216p per Cyberview Share). The Directors currently expect to commence making the First Distribution of approximately £31.3 million (equivalent to 195p per Cyberview Share) on 15 July 2008. The Supplemental Distribution of approximately £0.8 million (equivalent to 5p per Cyberview share) will be added to the First Distribution and distributed to Cyberview Shareholders if the Company furnishes to IGT on or prior to Completion acceptable insurance covering certain potential contingent liabilities in lieu of a three year escrow arrangement. Confirmation of Completion and the Supplemental Distribution will be notified at the appropriate time. A letter of transmittal will be sent to Cyberview Shareholders notifying them of the procedure to follow to claim the First Distribution following the expected Filing Date. The Company cannot currently predict the timing of further distributions but it is hoped that they will be made prior to the third anniversary of the Filing Date. On or shortly after Completion the Company will change its name to Mudalla Technology, Inc., the occurrence of which will be notified at the appropriate time. Cancellation of Admission Application has been made to the London Stock Exchange for the cancellation of the admission to trading on AIM of the Cyberview Shares at 7.00 a.m. on 14 July 2008 and therefore the last day of dealings in Cyberview Shares is expected to be 11 July 2008. The cancellation of admission is subject to Completion. Expected Timetable of Principal Events Expected date of Completion 5.00p.m. on Tuesday 8 July 2008 Expected last date of dealing in Cyberview 4.30 p.m. Friday 11 July 2008 Shares Expected Filing Date and Final Record Date 5.00 p.m. on Friday 11 July 2008 Expected Delisting of Cyberview Shares 7.00 a.m. on Monday 14 July 2008 Expected date of commencement of First Tuesday 15 July 2008 Distribution All times are references to London time. ENQUIRIES Cyberview Technology, Inc. Seamus McGill, Chief Executive Tel. +1 702 696 9870 Mark Nanovich, Finance Director Tel. +44 (0) 20 7761 3000 Arbuthnot Securities Limited Tel. +44 (0)20 7012 2000 Financial Adviser and Nominated Adviser to Cyberview James Steel / Paul Vanstone Hogarth Partnership Tel. +44 (0)20 7357 9477 Public Relations to Cyberview Fiona Noblet Arbuthnot Securities Limited, which is authorised and regulated by the Financial Services Authority in the United Kingdom, is acting as nominated adviser and broker to Cyberview for the purpose of the AIM Rules for Companies and financial adviser to the Company in respect of the Transaction and not for any other person in connection with the Transaction and will not be responsible to anyone other than Cyberview for providing the protections afforded to clients of Arbuthnot Securities Limited or for giving advice in relation to the Transaction or in relation to the contents of this announcement or any of the matters referred to herein. This announcement does not constitute a prospectus relating to Cyberview and has not been approved by the UK Listing Authority, nor does it constitute or form any part of any offer or invitation to purchase, sell or subscribe for, or any solicitation of any such offer to purchase, sell or subscribe for, any securities in Cyberview under any circumstances. Cyberview Shareholders are advised to read carefully the formal documentation in relation to the Transaction. Copies of this announcement are not being and must not be mailed or otherwise distributed or sent in or into or from Canada, Australia or Japan or to, or for the account or benefit of, any Canadian, Australian or Japanese person and any person receiving this announcement (including, without limitation, custodians, nominees and trustees) must not distribute or send it, in whole or in part, in or into or from Canada, Australia or Japan or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration thereof in, such jurisdiction. Forward-looking statements Certain statements contained in this announcement constitute "forward-looking statements". In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "prepares", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology. Investors should specifically consider the factors identified in this announcement which could cause actual results to differ before making an investment decision. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Cyberview Group, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Cyberview Group's present and future business strategies and the environment in which the companies will operate in the future. These forward-looking statements speak only as at the date of the announcement. This information is provided by RNS The company news service from the London Stock Exchange END EGMUSSRRWSRBRAR
1 Year Cyberview Chart |
1 Month Cyberview Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions