Proposed Cancellation from AIM Close of Offer

 
TIDMHTH TIDMEKT 
 
14 September 2010 
 
                             Hartest Holdings Plc 
 
                        Proposed cancellation from AIM 
 
                                Close of Offer 
 
Close of Offer 
 
The Board notes the announcement made earlier today by Elektron plc 
("Elektron") that the offer, by Elektron for the shares of Hartest (the 
"Offer"), has closed. 
 
Elektron further announced that as at 1pm on 14 September 2010, Elektron is the 
beneficial owner, or has received valid acceptances from Hartest Shareholders, 
in respect of a total of 8,486,590 Hartest Shares, representing approximately 
95.94 per cent. of the issued ordinary share capital of Hartest. 
 
Elektron also announced that having received valid acceptances in respect of 
more than 90 per cent. in nominal value of the Hartest shares to which the 
Offer relates, Elektron has resolved to exercise its rights pursuant to the 
provisions of Part 28 of the Companies Act 2006 to compulsorily acquire all 
remaining Hartest shares in respect of which acceptances have not been received 
prior to closing of the Offer (the "Compulsory Acquisition Procedure"). 
Elektron has stated that it will announce the commencement of the compulsory 
acquisition procedure in due course. 
 
The price offered under the Compulsory Acquisition Procedure will be 90 pence 
per ordinary Hartest share. 
 
Cancellation of Admission to Trading on AIM 
 
In relation to the above, and at the request of Elektron, Hartest is applying 
to the London Stock Exchange for the cancellation of admission to trading of 
Hartest Shares on AIM ("Cancellation"). 
 
The London Stock Exchange has agreed that shareholder consent in general 
meeting of Hartest, which would otherwise be required pursuant to AIM Rule 41, 
will not be required as the proposed Cancellation is pursuant to the takeover 
by Elektron of Hartest which has been declared wholly-unconditional and 
furthermore that Elektron is the beneficial owner, or has received valid 
acceptances, in respect of more than 75 per cent. of the issued share capital 
of Hartest. 
 
Cancellation of the AIM quote is expected to be effective from 7.00am on 14 
October 2010. 
 
Following the Cancellation Elektron intends to re-register Hartest as a private 
company under the relevant provisions of the Companies Act 2006 to enable 
Hartest, inter alia, to provide security for the enlarged group's borrowings. 
 
Pending the commencement of the Compulsory Acquisition Procedure, the 
Cancellation and the re-registration of Hartest as a private company would 
significantly reduce the liquidity and marketability of any Hartest shares that 
have not accepted the Offer. Following the Cancellation, there will be no 
future market for a Hartest shareholder to realise their investment in Hartest. 
Shareholders are still able to be buy and sell Hartest shares prior to the 
Cancellation and Compulsory Acquisition Procedure. 
 
Enquiries: 
 
Hartest Holdings plc     Geoff Spink, Chief Executive    01252 749 530 
 
Westhouse Securities     Tim Metcalfe / Martin Davison   020 7601 6100 
 
Hansard Communications   Justine James / Kirsty Corcoran 020 7245 1100 
 
 
 
 
END