Posting of Offer Document

    RNS Number : 6434U
  Horizon Technology Group PLC
  16 May 2008
   
    Not for release, publication or distribution, in whole or in part, in, into or from ANY jurisdiction where to do so would constitute a
violation of the relevant laws oF such jurisdiction.
    16 May 2008

    AVNET (HOLDINGS) LIMITED,
    A WHOLLY-OWNED SUBSIDIARY OF AVNET, INC.

    RECOMMENDED CASH OFFER FOR HORIZON TECHNOLOGY GROUP PLC

    Avnet, Inc. (Avnet) and Avnet (Holdings) Limited (Avnet Holdings) are pleased to announce that the Offer Document in respect of Avnet
Holdings' recommended cash offer for Horizon Technology Group plc (Horizon) was posted today, Friday 16 May 2008.

    The first closing date of the Offer is 13 June 2008. To accept the Offer, the Form of Acceptance should be completed, signed and
returned in accordance with the procedure set out in the Offer Document as soon as possible and in any event so as to be received by no
later than 11.00 a.m. (Dublin Time) on 13 June 2008.

    Copies of the Offer Document and the Form of Acceptance are available for inspection at the offices of McCann FitzGerald (Riverside One,
Sir John Rogerson's Quay, Dublin 2, Ireland) during normal business hours on any business day (Saturdays and public holidays excepted) while
the Offer remains open for acceptance. 
    Enquiries: 


    
 AVNET, INC.Kirsten Klatt,         GermanyUS                      
 European Communications                         Telephone:       
 DirectorVincent Keenan, Vice                  [phone] +1
 President and Director,                              480 643 7053
 Investor Relations
 
    
 BANC OF AMERICA SECURITIES        UKUSIreland     Telephone: +44 20
 (Financial adviser to Avnet                     7174 4800+1 646 313
 and Avnet Holdings)Derek                        7926+353 1 619 6143
 Shakespeare, Managing Director
 * European M&AGeorg
 Schloendorff, Managing
 Director * Technology M&AHugh
 Moran, Associate * European
 M&A 
 
    
 HORIZON TECHNOLOGY GROUP PLCGary          Ireland  Telephone:[phone]
 Coburn, Chief Executive OfficerCathal                             4900 
 O*Caoimh, Chief Financial Officer 
 
    
 DAVY CORPORATE FINANCE(Financial adviser   Ireland  Telephone:[phone]
 to Horizon)Ivan MurphyStephen                                       6363
 BarryRoland French 
 
    
 K CAPITAL SOURCE(IR/PR adviser to         Ireland  Telephone:[phone] 
 Horizon)Mark KennyJonathan Neilan


    Definitions used in the Offer Document dated 16 May 2008 have the same meaning when used in this announcement, unless the context
requires otherwise.
    This announcement does not constitute a prospectus or an equivalent document and it is not intended to and does not constitute or form
any part of an offer or invitation to sell or purchase or subscribe for any securities or a solicitation of an offer to buy any securities
or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise. The Offer has been made solely by means
of the Offer Document which contains the full terms and conditions of the Offer. Any response to the Offer should be made only on the basis
of information contained in the Offer Document. Horizon Shareholders are advised to read the formal documentation in relation to the Offer
carefully. 

    The directors of Avnet and Avnet Holdings accept responsibility for the information contained in this announcement. To the best of the
knowledge and belief of the directors of Avnet and Avnet Holdings  (who have taken all reasonable care to ensure that such is the case), the
information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything
likely to affect the import of such information. 
    Banc of America Securities which is regulated in the United Kingdom by the Financial Services Authority is acting exclusively for Avnet.
and Avnet Holdings in connection with the Offer and for no-one else and will not be responsible to anyone other than Avnet and Avnet
Holdings for providing the protections afforded to clients of Banc of America Securities or for providing advice in relation to the Offer or
any other matters referred to in this announcement.
    Overseas Jurisdictions
    The availability of the Offer to persons who are not resident in Ireland or the United Kingdom may be affected by the laws of the
relevant jurisdiction in which they are located. Persons who are not resident in Ireland or the United Kingdom should inform themselves
about, and observe, any applicable legal or regulatory requirements. Failure to comply with any such restrictions may constitute a violation
of the securities law of any such jurisdiction. The Offer is not being made, directly or indirectly, in or into the United States or any
other jurisdiction if to do so would constitute a violation of the relevant laws in such jurisdiction. Copies of this announcement, the
Offer Document and any related offering documents are not being, and must not be, directly or indirectly, mailed or otherwise forwarded,
distributed or sent into or from the United States or any other jurisdiction if to do so would constitute a violation of the relevant laws
in such jurisdiction and persons receiving any such documents (including custodians, nominees and trustees) must not mail or otherwise distribute or send them in, into or from such jurisdictions as doing
so may invalidate any purported acceptance of the Offer.
    Further details in relation to overseas shareholders are contained in the Offer Document.  
    Dealing disclosure requirements
    Any person who is a holder of one per cent. or more of Horizon Shares may have disclosure obligations under Rule 8.3 of the Irish
Takeover Rules, effective from 13 March 2008 (the date of the commencement of the offer period for Horizon).
This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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