Compulsory Acqn of SVM UK Active Fund Shares (5228J)

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RNS Number : 5228J

Cyrun Finance Ltd

30 June 2011

Cash Offer by

Cyrun Finance Ltd

to acquire the entire issued and to be issued share capital of

SVM UK Active Fund plc

not already owned by Cyrun Finance Ltd

Posting of compulsory acquisition notices

30 June 2011

On 23 March 2011, Cyrun Finance Ltd ("Cyrun") made a cash offer (the "Offer") to acquire the entire issued, and to be issued, share capital of SVM UK Active Fund plc ("SVM"). The Offer, which was subsequently improved, was declared unconditional in all respects on 19 May 2011. The Offer Price is 191.2p per SVM Share.

The Offer closed at 1.00pm on 2 June 2011 and was not extended.

Cyrun currently holds 29,812,779 SVM Shares representing 93.85% of its issued share capital.

Compulsory acquisition

Cyrun, having received acceptances or otherwise acquired sufficient SVM Shares while the Offer was open for acceptance, is exercising its right pursuant to the provisions of section 979 of the Companies Act 2006, which entitle Cyrun to compulsorily acquire the remaining SVM Shares in issue. Compulsory acquisition notices are being posted to all remaining SVM Shareholders today (30 June 2011) and any such remaining SVM Shares will be transferred to Cyrun on 11 August 2011.

As set out in the compulsory acquisition notice, SVM Shareholders whose SVM Shares are being compulsorily acquired will be entitled to receive 191.2p per SVM Share in cash, subject to Computershare Investor Services PLC, which will maintain the register of dissenting shareholders, receiving the required certificates or other documentation.

Upon completion of the compulsory acquisition, any future dividends or liquidation proceeds paid by SVM will be sent to Cyrun (not to dissenting SVM Shareholders).

Enquiries:

Cyrun Finance, Ltd Tel: [phone]

Stephen Miller

Fairfax I.S. PLC (sponsor and adviser to Cyrun) Tel: [phone]

David Floyd

Further Information

Documents made available in connection the Offer, including the Offer Document, and the Improved Offer Document are available in electronic form at: www.cyrun.co.uk

Unless otherwise defined in this announcement, capitalised words and phrases used herein have the same meanings given to them in the document dated 23 March 2011 containing the Offer (the "Offer Document").

Fairfax I.S. PLC ("Fairfax") is acting for Cyrun and no-one else in connection with the Offer and will not be responsible to anyone other than Cyrun for providing the protections afforded to clients of Fairfax or for providing advice in relation to the Offer.

The Director of Cyrun and Stewart Horejsi accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Director of Cyrun and Stewart Horejsi (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

This information is provided by RNS

The company news service from the London Stock Exchange

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