Offer Document Posted (7547A)

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RNS Number : 7547A

ESWC Acquisitions Limited

03 April 2012

ESWC ACQUISITIONS LTD

POSTING OF OFFER DOCUMENT TO PROLOGIC SHAREHOLDERS

Cash Offer for Prologic plc ("Prologic") by ESWC Acquisitions Ltd ("ESWC")

Further to the announcement on 29 March 2012 of the Offer, ESWC is pleased to announce that the Offer Document containing the full terms and conditions of the Offer and the related Form of Acceptance are being posted today (or otherwise made publicly available) to Prologic Shareholders.

To accept the Offer in respect of Prologic Shares, the Forms of Acceptance should be completed for shares held in certificated form, signed and returned or electronic acceptances made in accordance with the instructions set out in the Offer Document as soon as possible and, in any event so as to be received or settled by no later than 1.00 p.m. (London time) on 24 April 2012.

Enquiries:

West Hill Corporate Finance Limited

(Financial Adviser to ESWC)

   Edward Williams                                                Tel: [phone] 

www.westhillcorpfin.com

West Hill Corporate Finance Limited ("West Hill"), which is authorised and regulated by the FSA, is acting exclusively for ESWC Acquisitions Ltd (the "Offeror") and no one else in connection with the Offer and will not be responsible to anyone other than the Offeror for providing the protections afforded to clients of West Hill or for providing advice in connection with the Offer or any other matters referred to herein.

Dealing Disclosure Requirements

Under Rule 8.3(a) of the City Code, any person who is interested in 1 per cent. or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period, and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the City Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on [phone] if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Overseas Jurisdictions

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by the laws of those jurisdictions and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement has been prepared for the purposes 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 and regulations of any jurisdiction outside of England.

In particular, this announcement is not an offer which is being made, directly or indirectly, in or into or by the use of the mails of, or by any means or instrumentality (including, without limitation, email, facsimile transmission, telex, telephone, the internet or other forms of electronic transmission) of interstate or foreign commerce, or of any facility of a national securities exchange of a Restricted Jurisdiction and the Offer cannot be accepted by any such use, means, instrumentality or facility from or within a Restricted Jurisdiction.

Publication on website

A copy of the Offer Document will be available on the Prologic website at www.prologic.com by no later than 5pm on 3 April 2012.

This information is provided by RNS

The company news service from the London Stock Exchange

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