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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cybit Hldgs | LSE:CYH | London | Ordinary Share | GB00B04QS651 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 73.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMCYH RNS Number : 8018F CybIT Holdings PLC 19 January 2010 Recommended proposal for the acquisition of Cybit Holdings Plc by Cyberspace Bidco Limited to be implemented by means of a scheme of arrangement Court sanction of Scheme of Arrangement Cybit Holdings Plc ("Cybit" or the "Company") announces that, the High Court of Justice has today made an order sanctioning the scheme of arrangement by which Cyberspace Bidco Limited's acquisition of Cybit is to be implemented (the "Scheme"). In order for the Scheme to become effective, the Court will now need to confirm the associated reduction of capital of Cybit at a second court hearing which is due to take place on 21 January 2010. It is expected that the last day of dealings in Cybit Shares will be 20 January 2010 and that the admission to trading of Cybit Shares on the AIM market of the London Stock Exchange will be cancelled at 8.00 a.m. on 22 January 2010, the day following the anticipated Effective Date of the Scheme. A request has been made to the London Stock Exchange to cancel the admission of Cybit Shares to the London Stock Exchange's AIM market with effect from the day following the Effective Date. A detailed timetable of events for the Scheme is set out in the scheme document dated 15 December 2009 (the "Scheme Document"). Copies of the Scheme Document are available for inspection during normal business hours on any business day at the offices of Lovells LLP, Atlantic House, Holborn Viaduct, London EC1A 2FG up to and including the Effective Date. Words and expressions defined in the Scheme Document shall, unless the context provides otherwise, have the same meanings in this announcement. Enquiries: Cybit 0845 6027 123 Richard Horsman, CEO Neil Johnson, Chairman Cenkos 020 7397 8900 Stephen Keys Elizabeth Bowman Redleaf Communications 020 7566 6700 Emma Kane Rebecca Sanders-Hewett Francisco Partners 020 7907 8600 Deep Shah Investec 020 7597 5000 Andrew Pinder Dominic Emery Capitalised terms used in this announcement have the meanings given to them in the Scheme Document. Investec, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Bidco and no one else in connection with the Acquisition and other matters referred to in this Announcement and the Scheme and will not be responsible to anyone other than Bidco for providing the protections afforded to clients of Investec nor for giving advice in relation to the Acquisition and the Scheme or any other matter or arrangement referred to in this Announcement. Cenkos, which is authorised and regulated in the United Kingdom by the FSA, is acting exclusively for Cybit and no one else in connection with the Acquisition and the Scheme and will not be responsible to anyone other than Cybit for providing the protections afforded to clients of Cenkos nor for giving advice in relation to the Acquisition and the Scheme or any other matter or arrangement referred to in this Announcement. The distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not constitute an offer or an invitation to purchase or subscribe for any securities or a solicitation of an offer to buy any securities pursuant to this announcement or otherwise in any jurisdiction in which such offer or solicitation is unlawful. This announcement has been prepared for the purposes of complying with English law, the Code and the AIM Rules and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of any jurisdiction outside England. Dealing disclosure requirements Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in one per cent. or more of any class of "relevant securities" of Cybit or Bidco, all "dealings" in any "relevant securities of that company (including by means of an option in respect of, or a derivative referenced to, any such relevant securities") must be publicly disclosed by no later than 3.30 p.m. on the business day following the date of the relevant transaction. This requirement will continue until the Effective Date or until the date on which the Scheme lapses or is otherwise withdrawn or on which the "Offer Period" otherwise ends (or, if Bidco elects to effect the Acquisition by way of a Takeover Offer, until the date on which such Takeover Offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the relevant "offer period" otherwise ends). If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Cybit or Bidco, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in relevant securities of Cybit or Bidco by Cybit or Bidco, or by any of their respective associates, must be disclosed by no later than 12.00 noon on the business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities "dealings" should be disclosed, and the number of such securities in issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a dealing under Rule 8, please contact an independent financial adviser authorised under FSMA, consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number + 44 (0) 20 7638 0129. This information is provided by RNS The company news service from the London Stock Exchange END MSCKKCDBABKDODD
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