Offer Lapsed

RNS Number:8450I
Sigma Technology Group PLC
18 March 2003


Sigma Technology Group plc
18 March 2003


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN


Embargoed until 7.30am

18 March 2003


                      Sigma Technology Group plc ("Sigma")

                       Recommended cash and share offer

                        for Lionheart plc ("Lionheart")



               Update on level of acceptances and Lapse of Offer


On 19 February 2003 the Board of Sigma announced that the Offer announced on 8
January 2003 was being extended and would remain open for acceptance until
3.00pm on 17 March 2003.

As at 3.00pm on 17 March 2003, valid acceptances of the Offer had been received
in respect of 4,070,253 Lionheart Shares, representing approximately 56.49 per
cent. of the existing share capital of Lionheart. The total figure for
acceptances includes acceptances in relation to 2,172,998 Lionheart Shares,
representing approximately 30.1 per cent. of the issued share capital of
Lionheart, which had been the subject of irrevocable undertakings to accept the
Offer.

It was a condition of the Offer that shareholders holding not less than 90 per
cent. of  Lionheart's Shares in issue accept the Offer and therefore the Board
of Sigma announces that the Offer has now lapsed.

Documents of title in respect of Lionheart Shares which have been assented to
the Offer will be returned to the relevant Lionheart Shareholders within 14
days. Lionheart Shares which have assented to the Offer through CREST will be
returned to the originating account within 14 days.

Save as disclosed above, neither Sigma nor any persons acting or deemed to be
acting in concert with Sigma for the purpose of the Offer owned or controlled
any Lionheart Shares or any rights over such Lionheart Shares prior to the
commencement of the Offer Period; and neither Sigma nor any person acting or
deemed to be acting in concert with Sigma for the purposes of the Offer has
acquired or agreed to acquire any Lionheart Shares (or rights over Lionheart
Shares) during the Offer Period.

Definitions used in the Offer Document dated 27 January 2003 have the same
meaning when used in this announcement, unless the context requires otherwise.


Enquires:

Sigma Technology Group plc

Graham Barnet                                                 Tel: [phone]
Neil Crabb                                                    Tel: [phone]

Oriel Securities Limited                                      Tel: [phone]
(Financial adviser to Sigma)

Andrew Edwards
Natalie Fortescue


The Sigma Directors accept responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Sigma Directors
(who have taken all reasonable steps to ensure that such is the case) the
information contained in this announcement for which they have accepted
responsibility is in accordance with the facts and does not omit anything likely
to affect the import of such information.

Oriel Securities Limited, which is regulated by the Financial Services
Authority, is acting exclusively for Sigma and no-one else in connection with
the Offer and will not be responsible to anyone other than Sigma for providing
the protections afforded to its customers, nor for providing advice in relation
to the Offer, the contents of this announcement or any other matters referred to
herein.

The Offer was not made, directly or indirectly, in or into, or by use of the
mails of, or by means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or any
facilities of a securities exchange of, the United States, Australia, Canada or
Japan, and the Offer was not capable of acceptance by any such use, means or
instrumentality or facilities or from or within the United States, Australia,
Canada, or Japan. Accordingly, copies of the announcement and any other
documents related to the Offer are not being, and must not be, directly or
indirectly, mailed or otherwise forwarded, distributed or sent in or into the
United States, Australia, Canada or Japan and persons receiving this
announcement (including custodians, nominees and trustees) must not mail or
otherwise forward, distribute or send it in or into the United States,
Australia, Canada or Japan. Doing so may render invalid any purported acceptance
of the Offer.


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