Acquisition

    RNS Number : 4554X
  HydroDec Group plc
  25 June 2008
   

          


    Not for release, publication or distribution, in whole or in part in, into or from the United States of America or any of its
territories, Canada, or Japan, or any other jurisdiction where to do so would constitute a violation of the relevant laws of such
jurisdiction.



    25th June 2008



    RECOMMENDED ACQUISITION
    by
    Hydrodec Group plc ("Hydrodec")
    of
    Virotec International plc ("Virotec")

    Scheme of Arrangement becomes Effective



    The scheme of arrangement under sections 895 to 901 of the Companies Act 2006 (the "Scheme") and the claim form to confirm the Reduction
under section 137 of the 2006 Act to implement the recommended acquisition by Hydrodec of the entire issued and to be issued share capital
of Virotec (other than the Excluded Shares) has now become effective in accordance with the terms of the Scheme and the Acquisition has been
completed. 

    Under the terms of the Scheme, Virotec Shareholders are entitled to receive 1 New Hydrodec Share for every 3.75 Scheme Shares held in
Virotec. 

    Dealings in Virotec Shares on AIM have been cancelled at Hydrodec's request, with effect from 7.00am today. 

    Settlement of the Cash Consideration in respect of the Virotec Shares will be effected within 14 days of today in accordance with the
terms of the Scheme. Application has been made for the admission to trading on AIM of 64,689,227 New Hydrodec Shares. These New Hydrodec
Shares, which will rank pari passu in all respects with the existing shares in issue, have been allotted. Admission and Commencement of
dealings in the New Hydrodec Shares on AIM is expected to become effective on 25 June 2008.

    For the purposes of the Financial Services Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 0.5p
each of Hydrodec in issue on the date of admission will be 268,718,839 with each share holding one voting right. 

    The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

    Capitalised terms used but not defined in this announcement have the same meanings as set out in the scheme document dated 13 May 2008.


    Enquires:

    John Gunn 
    Hydrodec Group plc 
    [phone] 
      
    Anthony Richardson 
    Nick Westlake 
    Numis Securities Limited 
    [phone] 

    Emma Davis
    Curve Public Relations
    [phone]


    Numis Securities Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Hydrodec and
no-one else in connection with the Acquisition and will not be responsible to anyone other than Hydrodec for providing the protections
afforded to customers of Numis Securities Limited or for providing advice in relation to the Acquisition or any other matter referred to
herein. 


    Ludgate Investments Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Hydrodec and
no-one else in connection with the Acquisition and will not be responsible to anyone other than Hydrodec for providing the protections
afforded to customers of Ludgate Investments Limited or for providing advice in relation to the Acquisition or any other matter referred to
herein. 


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