RECOMMENDED CASH ACQUISITION BY LIQUIDITY SERVICES (8889F)

TIDMGOI

RNS Number : 8889F

GoIndustry-DoveBid PLC

21 June 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

RECOMMENDED CASH ACQUISITION OF GOINDUSTRY-DOVEBID PLC

BY LIQUIDITY SERVICES LIMITED

(A WHOLLY-OWNED SUBSIDIARY OF LIQUIDITY SERVICES, INC.)

Exercise of Share Options by Directors

Issue of Ordinary Share to Liquidity Services Limited

In connection with the proposed acquisition of GoIndustry-DoveBid plc (the "Company" or "GoIndustry") by Liquidity Services Limited ("Liquidity Services UK"), a wholly-owned subsidiary of Liquidity Services, Inc., being implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"), the Board of GoIndustry announces that:-

(i) Jack Reinelt and Leslie-Ann Reed, Directors of GoIndustry, have today exercised the options granted to them under the GoIndustry 2009 Unapproved Share Option Plan to subscribe for 97,443 GoIndustry Shares and 97,985 GoIndustry Shares (respectively) at exercise prices of 70p and 57p (respectively), conditional on the Scheme being sanctioned by the Court; and

(ii) Liquidity Services UK has today subscribed for, and GoIndustry has today issued to Liquidity Services UK, a single ordinary share of 1p at a subscription price of 73p payable in cash.

Total voting rights

As a result of the issue of the single ordinary share Liquidity Services UK, a total of 9,798,495 ordinary shares of 1p each is now in issue. The total number of voting rights in the Company is therefore now 9,798,495 . Upon the Court sanctioning the Scheme (anticipated to take place on Friday, 29 June 2012), there will be a total of 9,993,923 ordinary shares of 1p each in issue.

The above figures may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, GoIndustry under the FSA's Disclosure and Transparency Rules.

Availability of Scheme Document

The circular dated 23 May 2012 to Shareholders of GoIndustry (the "Scheme Document") is available for inspection on GoIndustry's website (http://www.go-dove.com/company/InvestorRelations.asp) under the heading 'Recommended Cash Acquisition by Liquidity Services'.

Unless the context otherwise requires, terms defined in Scheme Document have the same meaning in this announcement.

Enquiries:

 
 GoIndustry-DoveBid plc                                 [phone] 
 Neville Davis, Chairman 
 Jack Reinelt, Chief Executive Officer 
 Leslie-Ann Reed, Chief Financial Officer 
 
 WH Ireland Ltd. (Financial Adviser and Nominated 
  Adviser to GoIndustry)                                [phone] 
 Chris Fielding 
 James Bavister 
 
 St. Brides Media & Finance Ltd. (Public Relations 
  Adviser to GoIndustry)                                [phone] 
 Felicity Edwards 
 
 
 Liquidity Services, Inc.                               [phone] 
 Jim Rallo, Chief Financial Officer and Treasurer 
 1920 L Street, N.W. 
 6(th) Floor 
 Washington, D.C. 
 United States of America 
 
 RBC Capital Markets (Financial Adviser to Liquidity 
  Services)                                             [phone] 
 Stephen J. McPherson 
 Mark Rushton 
 
 

Publication on website

Copies of this announcement and the Scheme Document will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on GoIndustry's website at http://www.go-dove.com/company/InvestorRelations.asp, under the heading 'Recommended Cash Acquisition by Liquidity Services' up to and including the Scheme Effective Date.

For the avoidance of doubt, the content of the website referred to above is not incorporated into and does not form part of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

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