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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sipef | EU:SIP | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.40 | -2.62% | 52.00 | 52.00 | 52.20 | 53.20 | 52.00 | 53.00 | 859 | 14:57:20 |
FOR IMMEDIATE RELEASE 7 April 2003 Scipher plc ("Scipher") Deferred consideration due for the acquisition of Probot Communications Limited ("Probot"). Following the acquisition of Probot by Scipher announced on 5 July 2001, the maximum level of sales under the earnout provisions has been achieved by Probot, for which deferred consideration of £2.95 million is payable by Scipher. It has been agreed that this will be satisfied in total by the issue of approximately 8.9 million new Scipher ordinary shares and £650,000 in cash and will be paid in four tranches. This arrangement implies an effective issue price of the new Scipher shares of approximately 25.8p per share. The first tranche of consideration consists of 6,000,000 new Scipher shares, which have now been allotted. The balance of the deferred consideration consists of 2,905,039 Scipher shares and £650,000 cash plus interest to be paid in three installments on 31 March 2004, 31 March 2005 and 31 March 2006. Application has been made to the UK Listing Authority and to the London Stock Exchange for the first tranche of 6,000,000 new Scipher Ordinary Shares to be admitted to the Official List and to trading on the London Stock Exchange's market for listed securities. Admission of these shares is anticipated to be effective on 7 April 2003. Enquiries: Scipher plc: Michael Kendon 020 8848 6444 Financial Dynamics: James Melville-Ross 020 7831 3113 Juliet Clarke 020 7831 3113 END
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