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ITO Intechnology

24.00
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Intechnology LSE:ITO London Ordinary Share GB0001388932 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% 24.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Result of Tender Offer

22/01/2008 7:01am

UK Regulatory


RNS Number:2449M
InTechnology PLC
22 January 2008

               InTechnology plc ("InTechnology" or "the Company")

                             Result of Tender Offer

1. Introduction

On 30 October 2007 within its interim results, the Company announced its
proposals, inter alia, to cancel the admission of its Ordinary Shares to trading
on AIM and to purchase Ordinary Shares by way of the Tender Offer. Defined terms
in the circular sent to shareholders on 9 November 2007 bear the same meanings
in this announcement.

2. Tender Offer

A maximum of 24,285,714 Ordinary Shares may be purchased under the Tender Offer,
representing approximately 17.1 per cent. of the issued ordinary share capital
of the Company, at a price of 35 pence per Ordinary Share.

InTechnology has received valid elections for an aggregate number of 10,575,821
Tender Offer Shares, representing 7.4 per cent. of the issued share capital of
the Company. Tender Offer Shareholders who have elected to sell more than their
Basic Amount will therefore be able to sell 100 per cent. of their holding of
Tender Offer Shares.

The Tender Offer is to be effected by Panmure Gordon purchasing Tender Offer
Shares as principal at a price of 35 pence per Tender Offer Share and then
selling such Tender Offer Shares on the London Stock Exchange to the Company for
cancellation pursuant to the Repurchase Agreement.

The Tender Offer is conditional upon (i) the approval of the Capital Reduction
and Cancellation at the Court Hearing to be held on 23 January 2008, (ii) the
Repurchase Agreement becoming unconditional. If these conditions are not
satisfied, the Tender Offer will be void.  On satisfaction of these conditions,
the Tender Offer will occur on 28 January 2008.

3. Delisting

The Delisting will take place on 1 February 2008 regardless of whether the
conditions set out above have been satisfied.

Further announcements will be made as appropriate.

Enquiries:

InTechnology plc - 01423 850 000
Peter Wilkinson / Andrew Kaberry / Richard James

Panmure Gordon - 020 7459 3600
Dominic Morley

Financial Dynamics - 020 7831 3113
James Melville-Ross / Hannah Sloane


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

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