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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
F.T.S.-Formula | LSE:FTS | London | Ordinary Share | IL0010935257 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFTS
RNS Number : 4009G
F.T.S-Formula Telecom Solutions Ltd
11 May 2011
F.T.S. - Formula Telecom Solutions Ltd.
Cash Offer
by
Formula Vision Technologies (F.V.T.) Ltd.
for
F.T.S. - Formula Telecom Solutions Ltd.
London, UK | 11 May, 2011: F.T.S. - Formula Telecom Solutions Ltd. (LSE: FTS) ("FTS"), a global provider of billing, customer care and policy control solutions for communications and content service providers, today announces that Formula Vision Technologies (F.V.T) Ltd. ("FVT") has today made a tender offer, for itself and on behalf of certain other member of FTS (the "Offeror Group"), on a pro rata basis, to acquire the entire issued share capital of FTS held by the shareholders of FTS other than the Offeror Group, being 3,346,000 ordinary shares of FTS ("Offeree Share(s)"), equal to 10.23 per cent. of the existing ordinary shares of FTS and 9.91 per cent. on a fully diluted basis (the "Offer"). The Offer is a cash offer pursuant to which FVT will pay 16p in cash for each Offeree Share. The Offer represents a premium of approximately 52.5 per cent. to the Closing Price of 10.5p per Offeree Share on 10 May 2011, being the last Business Day prior to the commencement of the Offer Period.
The full terms and conditions of the Offer are set out in the offer document which is available on www.fts-soft.com and has been posted to shareholders today.
FTS is an Israeli incorporated company whose shares are traded on AIM. Shareholders should be aware that the Offer is not governed by or subject to the UK City Code on Takeovers and Mergers.
Enquiries:
Joshua PR for FTS
Patrick Smith, Tel. +44 7734 600 553, patrick.smith@joshuapr.com
Seymour Pierce Limited
Mark Percy, Tel: +44 (0) 207 107 8000, markpercy@seymourpierce.com
FTS
investors@fts-soft.com
About FTS
FTS (LSE: FTS) is a leading provider of billing, customer care and policy control solutions for communications and content service providers. By analyzing events from a business standpoint rather than just billing them, FTS allows providers to better understand their customer base and leverage business value from every event and interaction. FTS deploys its full range of end-to-end, stand-alone and add-on solutions to customers in over 40 countries and implements solutions in wireless, wireline, cable, content and broadband markets including multiple cross-network installations. Serving the evolving needs of telecommunications providers, the company's operations comprise international R&D locations and strategically-located sales support offices worldwide. Further information is available at www.fts-soft.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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