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CZT Cozart

57.50
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cozart LSE:CZT London Ordinary Share GB00B01G6P33 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 57.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Offer Document Posted

07/09/2007 7:25pm

UK Regulatory


RNS Number:5419D
Concateno plc
07 September 2007


7 September 2007


                           CONCATENO PLC (the "Company")


   Recommended Offer for COZART PLC- Further Irrevocables and Posting of Offer
                                    Document


Further to the announcement released by the Company on 5 September 2007 in
accordance with rule 2.5 of the Code (the "2.5 Announcement"), the Concateno
Directors and the Independent Directors are pleased to announce that in addition
to the irrevocable undertakings referred to in the 2.5 Announcement, Concateno
has also received irrevocable undertakings (as further detailed below) from YFM
Private Equity Limited acting on behalf of British Smaller Companies VCT and
British Smaller Technology Companies VCT2 to accept, or procure the acceptance
of, the Offer and to vote in favour, or procure the voting in favour, of the
Resolution in respect of their beneficial holding of Cozart Shares totaling, in
aggregate, 8,958,445 Cozart Shares, representing approximately 8 per cent. of
the existing issued ordinary share capital of Cozart. These irrevocable
undertakings shall, at the relevant Shareholder's option, cease to be binding in
the event that, at any time prior to the date and time for acceptance, a
Competing Announcement is made which represents a Higher Cash Offer, and the
relevant Shareholder gives notice in writing to Concateno within seven business
days of that Competing Announcement that the relevant Shareholder intends to
accept the relevant higher offer.


Accordingly, Concateno has now received, in aggregate, irrevocable undertakings
to accept the Offer in respect of 66,925,117 Cozart Shares, representing
approximately 60 per cent. of the existing issued ordinary share capital of
Cozart and irrevocable undertakings to vote in favour of the Resolution in
respect of 51,449,318 Cozart Shares representing approximately 46 per cent. of
the issued ordinary share capital of Cozart.


The Concateno Directors and the Independent Directors are also pleased to
announce that the formal Offer Document, setting out details of the Offer, and,
in the case of Cozart Shareholders holding Cozart Shares in certificated form,
the Form of Acceptance, has been dispatched to Cozart Shareholders today.


Terms used in this announcement have the same meaning as in the 2.5
Announcement.


Enquiries:

Concateno plc                                           Tel: +44 (0)20 7004 2800
Keith Tozzi, Chairman
Fiona Begley, Chief Executive Officer

Collins Stewart (financial adviser and broker to        Tel: +44 (0)20 7523 8350
Concateno)                                                
Seema Paterson
Piers Coombs

Financial Dynamics (Concateno public relations)         Tel: +44 (0)20 7831 3113
Billy Clegg
Edward Westropp

Cozart plc                                              Tel: +44 (0)1235 861 483
Sir Brian Richards, Chairman
Dr. Christopher Hand, Chief Executive Officer
Chris Yates, Finance Director

Numis Securities Limited (financial adviser  to         Tel: +44 (0)20 7260 1277
and broker Cozart)                                                   
Michael Meade
James Black

Financial Dynamics (Cozart public relations)            Tel: +44 (0)20 7269 7242
                                                          
Ben Atwell


Details of Further Irrevocable Undertakings- Other Cozart Shareholders


The following persons have also entered into irrevocable undertakings with
Concateno to accept, or procure the acceptance of, the Offer and vote, or
procure the voting, in favour of the Resolution in respect of their beneficial
holding of Cozart Shares:
                                               Percentage of fully diluted
                                               ordinary sharecapital

                            Total No. of
                            Cozart Shares
Name

YFM Private Equity
Limited acting on              3,895,419       3.3%
behalf of British Smaller
Companies VCT

YFM Private Equity
Limited acting on
behalf of                      5,063,026       4.3%
British Smaller Technology
Companies VCT2


THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR
IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF
SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.


The Offer will be subject to the applicable requirements of the City Code. The
formal Offer Document, setting out details of the Offer, and, in the case of
Cozart Shareholders holding Cozart Shares in certificated form, the Form of
Acceptance, has been dispatched to Cozart Shareholders today. This announcement
does not constitute an offer or an invitation to purchase any securities.

This announcement is not intended to and does not constitute or form any part
of, an offer to sell or an invitation to  purchase or the solicitation of an
offer to subscribe for any securities or the solicitation of any vote or
approval in  any jurisdiction pursuant to the Offer or otherwise. The Offer will
be made solely through the Offer Document and in  the case of certificated
Cozart Shares, the Form of Acceptance, which will together contain the full
terms and  conditions of the Offer, including details of how to accept the
Offer. Any acceptance or other response to the Offer  should be made only on the
basis of the information contained in the Offer Document and, in the case of
certificated  Cozart Shares, the Form of Acceptance.

The making of the Offer in, or to persons resident in, or to nationals or
citizens of, jurisdictions outside the United  Kingdom or to nominees of, or
custodians or trustees for, citizens or nationals of other countries ("Overseas 
Shareholders") may be prohibited or affected by the laws of the relevant
jurisdictions. It is the responsibility of  such Overseas Shareholders to inform
themselves about and observe any applicable legal requirements. No person 
receiving a copy of the Offer Document and/or a Form of Acceptance in any
jurisdiction other than the UK may treat the  same as constituting an invitation
or offer to him, nor should he in any event use such Form of Acceptance, if, in
the  relevant jurisdiction, such invitation or offer cannot lawfully be made to
him or such Form of Acceptance cannot  lawfully be used without contravention of
any relevant or other legal requirements. In such circumstances, the Offer 
Document and/or Form of Acceptance are sent for information only. It is the
responsibility of such Overseas Shareholder  receiving a copy of the Offer
Document and/or Form of Acceptance and wishing to accept the Offer to satisfy
himself as  to the full observance of the laws and regulatory requirements of
the relevant jurisdiction in connection with the  Offer, including obtaining any
governmental, exchange control or other consents which may be required, and
compliance  with other necessary formalities needing to be observed and payment
of any issue, transfer or other taxes or duties due  in such jurisdiction. Any
such Overseas Shareholder will be responsible for any such issue, transfer or
other taxes or  duties by whomsoever payable and Concateno (and any person
acting on behalf of Concateno) shall be fully indemnified  and held harmless by
such Overseas Shareholder for any such issue, transfer or other taxes or duties
or other requisite  payments as Concateno (and any person acting on behalf of
Concateno) may be required to pay.

The distribution of this announcement in jurisdictions other than the UK may be
restricted by law and therefore any persons who are subject to the laws of any
jurisdiction other than the UK should inform themselves about, and observe any
applicable requirements. In particular, the Offer is not being made, directly or
indirectly, in the United States, Canada, Australia, the Republic of South
Africa or Japan. 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 England.





                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
ODPILFFTAIIDIID

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