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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Litcomp | LSE:LIN | London | Ordinary Share | GB00B0ZQ8D12 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 35.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLIN TIDMLINC RNS Number : 5619C LitComp Plc 16 November 2009 16 November 2009 LITCOMP PLC "LitComp" or "the Company" IRREVOCABLE UNDERTAKINGS Further to the announcement on 5 November 2009 regarding Torridon Capital Limited's recommended cash offer for LitComp plc, Torridon is pleased to announce it has received four further irrevocable undertakings to accept the Offer in respect of, in aggregate, a further 774,400 LitComp Shares representing approximately 12.07 per cent. of LitComp's Diluted Share Capital and with respect to the Resolution approximately 20.17 per cent. held by LitComp Shareholders entitled to vote on the Resolution. On 13 November 2009 LitComp received irrevocable undertakings to accept the Offer and vote in favour of the Resolution from the following shareholders: +----------------------+---------------+--------------+--------------------+ | Shareholder | Shareholdings | % of Diluted | % of LitComp | | | | Share | Shareholders | | | | Capital | entitled to vote | | | | | on Resolution | +----------------------+---------------+--------------+--------------------+ | Simon Carter | 367,200 | 5.72 | 9.56 | +----------------------+---------------+--------------+--------------------+ | Keith Howell-Jones | 177,200 | 2.76 | 4.62 | +----------------------+---------------+--------------+--------------------+ | Lewetta Investment | 135,000 | 2.10 | 3.52 | | Ltd | | | | +----------------------+---------------+--------------+--------------------+ | DM Bunyard | 95,000 | 1.48 | 2.47 | +----------------------+---------------+--------------+--------------------+ | Total | 774,400 | 12.07 | 20.17 | +----------------------+---------------+--------------+--------------------+ All irrevocable undertakings received will cease to be binding in the event that there is either a higher competing offer for LitComp or a higher offer for those LitComp Shares subject to the irrevocable undertaking by the 30 November 2009 or if the Offer lapses or is withdrawn. Following receipt of this irrevocable undertaking, Torridon has now received irrevocable undertakings to accept the Offer in respect of 3,419,427 LitComp Shares representing approximately 53.29 per cent. of the LitComp Diluted Share Capital. In addition, irrevocable undertakings to vote in favour of the Resolution have been received in respect of 842,438 LitComp Shares representing approximately 21.94 per cent. of LitComp Shares held by shareholders entitled to vote on the Resolution. This announcement should be read in conjunction with the Rule 2.5 announcement dated 5 November 2009. Terms used in this announcement shall have the meaning given to them in that announcement. Enquiries: +---------------------------------------------+----------------------------+ | LITCOMP PLC | Telephone: +44 (0)147 656 | | Jason Smart, Chief Executive Officer | 0113 | | Paul Lavender, Finance Director | | | | | +---------------------------------------------+----------------------------+ | TORRIDON CAPITAL LIMITED | Telephone: +44 (0)20 7199 | | Stella Panu, Director | 3510 | | | | +---------------------------------------------+----------------------------+ | ASTAIRE SECURITIES PLC | Telephone: +44 (0)20 7448 | | (Financial Adviser to LitComp) | 4400 | | Lindsay Mair | | | Luke Cairns | | | | | +---------------------------------------------+----------------------------+ | Seymour Pierce LIMITED | Telephone: +44 (0)20 7107 | | (Nominated Adviser and Broker to LitComp) | 8000 | | Richard Feigen | | | Chris Howard | | | Christopher Wren | | | | | +---------------------------------------------+----------------------------+ | SHORE CAPITAL AND CORPORATE LIMITED | Telephone: +44 (0)20 7408 | | (Financial Adviser to the Offeror) | 4090 | | Dru Danford | | | Stephane Auton | | | | | +---------------------------------------------+----------------------------+ | BisHOPSGATE COMMUNICATIONS | Telephone: +44 (0)20 7562 | | (Financial PR Advisers to LitComp) | 3350 | | Maxine Barnes | | +---------------------------------------------+----------------------------+ Astaire Securities, which is authorised and regulated by the Financial Services Authority, is acting exclusively for LitComp and no one else in connection with the Offer and this announcement and will not be responsible to anyone other than LitComp for providing the protections afforded to clients of Astaire Securities or for providing advice in connection with the Offer or any matter referred to herein. Seymour Pierce, which is authorised and regulated by the Financial Services Authority, is acting exclusively for LitComp and no one else as Nominated Adviser and Broker for the purpose of the AIM Rules in respect of this announcement and will not be responsible to anyone other than LitComp for providing the protections afforded to clients of Seymour Pierce or for providing advice in connection with the Offer or any matter referred to herein. Shore Capital and Corporate Limited, which is authorised and regulated by the Financial Services Authority, is acting exclusively for the Torridon and no one else in connection with the Offer and will not be responsible to anyone other than the Torridon for providing the protections afforded to clients of Shore Capital or for providing advice in connection with the Offer or any matter referred to herein. This announcement is for information purposes only and does not constitute an offer to sell or invitation to purchase or subscribe for any securities or the solicitation of an offer to sell or invitation to purchase or subscribe for any securities or any vote for approval in any jurisdiction, nor shall there be any sale, issue or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law. The Offer will be made solely by the Offer Document and the Form of Acceptance accompanying the Offer Document, which will contain the full terms and conditions of the Offer, including details of how the Offer may be accepted. Any response in relation to the Offer should be made only on the basis of the information contained in the Offer Document or any document by which the Offer is made. This announcement does not constitute a prospectus or prospectus equivalent document. This announcement has been prepared for the purpose of complying with English law and the City Code 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 jurisdictions outside the United Kingdom. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to laws of other jurisdictions should inform themselves of, and observe, any applicable requirements. Any failure to comply with the restrictions in jurisdictions outside the United Kingdom may constitute a violation of the securities laws of any such jurisdiction. Shareholders in the United States should note that the Offer relates to the shares of a UK company and will be governed by English law. Neither the proxy solicitation nor the tender offer rules under the US Securities Exchange Act of 1934, as amended, will apply to the Offer. Moreover, the Offer will be subject to the disclosure requirements and practices applicable in the UK, which differ from the disclosure requirements of the US proxy solicitation rules and tender offer rules. Financial information included in this announcement and the Offer documentation with respect to LitComp has been or will have been prepared in accordance with IFRS and may not be comparable to financial information of US companies or companies whose financial statements are prepared in accordance with US GAAP. The Offer will not be made, directly or indirectly, in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction, and the Offer will not be capable of acceptance from or within a Restricted Jurisdiction. Accordingly, copies of this announcement and all documents relating to the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded (including, without limitation, by telex, facsimile transmission, telephone, internet or other forms of electronic communication), distributed or sent in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction, and persons receiving this announcement and all documents relating to the Offer (including custodians, nominees and trustees) must not mail or otherwise distribute or send them in, into or from such jurisdictions as doing so may invalidate any purported acceptance of the Offer. The availability of the Offer to LitComp Shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions in which they are resident. Persons who are not resident in the United Kingdom should inform themselves of, and observe, any applicable requirements. No listing authority or equivalent has reviewed, approved or disapproved of this announcement or any of the proposals described herein. Any document, announcement or information relating to the Offer will be published on the LitComp website: www.litcomp-plc.com This information is provided by RNS The company news service from the London Stock Exchange END OUPFQLFFKFBZFBZ
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