Offer Update - Timetable to completion

 

TIDMDTK 
 
RNS Number : 1892P 
Dmatek Ld 
20 March 2009 
 

 
 
Dmatek Ltd. 
 
 
('Dmatek' or the 'Company') 
 
 
Timetable to completion and settlement of consideration 
 
 
20 March, 2009, Tel Aviv, Israel - Dmatek (LSE: DTK), a leading global provider 
of remote people monitoring technologies, is today updating shareholders 
regarding the expected timetable to completion of the proposed sale of the 
Company and settlement of consideration. 
 
 
It was announced on 29 December 2008 that the Independent Directors had reached 
agreement on the terms of a recommended sale of the entire issued and to be 
issued share capital of Dmatek to a special purpose investment vehicle 
established and funded by an investor group led by Francisco Partners, to be 
effected by way of a merger in accordance with the Law.On 21 January 2009, the 
Company dispatched a circular to shareholders containing, inter alia, details of 
the merger agreement and notices convening the Shareholder Meetings necessary to 
obtain approval for the Merger. 
 
 
On 25 February 2009, the Company announced that all of the necessary resolutions 
have been duly approved by Shareholders at the Shareholders Meetings held on the 
same day. 
 
 
It is currently expected that the last condition to completion of the Merger, 
being the issuance of a certificate by the Israeli registrar, following the 
lapse of the statutory waiting period, will be fulfilled during the week of 30 
March, 2009. Save for those conditions which by their nature are only capable of 
fulfilment on or shortly before the date on which the Merger becomes effective, 
all other conditions to completion of the Merger, including all requisite 
governmental consents and approvals have been obtained. 
 
 
Accordingly, as provided in the Circular and the notice to holders of Depositary 
Interests dated 23 February 2009, the Company will terminate its Depositary 
Interest facility at 4:30pm London time on Friday 27 March 2009.  At this time, 
the shares held on trusts for holders of Depositary Interests will be registered 
directly into their names. Certificates in respect of such shares will not be 
issued.Please therefore take notice that the last day to trade Depositary 
Interests in order to appear on the register at 4:30pm London time on Friday 27 
March 2009 will be Tuesday 24 March 2009. Depository interest holders are urged 
to ensure that all transactions are settled before this date. 
 
 
The Company will also apply for its shares to be suspended from trading with 
effect from 7:00am on Monday 30 March 2009. Please therefore take notice that 
the last day to trade share certificates in order to appear on the register at 
4:30pm London time on Friday 27 March 2009 will also be Tuesday 24 March 2009. 
Shareholders are urged to ensure that all transactions are settled before this 
date. 
 
 
Shareholders of record when the Merger becomes effective will in due course be 
mailed certain forms and declarations together with instructions for their use 
as soon as possible after the Effective Time, and they will be entitled to claim 
their share of the Cash Consideration from the Paying Agent by completing such 
forms and returning them to the Paying Agent together with their share 
certificates or other evidence of ownership, as directed. 
 
 
Capitalised terms used in this announcement have the same meanings ascribed to 
them in the Circular dated 21 January 2009. 
 
 
Enquiries 
 
 
Dmatek Ltd. 
Idit Mormobile: 07834 126 742 ; [phone] 
[e-mail] 
 
 
BDO Stoy Hayward Corporate Finance 
Michael Cobb    [phone] 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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