LOS GATOS, Calif., March 5, 2015 /PRNewswire/ -- CoSine
Communications, Inc. (Other OTC: COSN) ("CoSine") announced today
that the previously announced tender offer (the "Offer") of its
wholly owned United Kingdom ("UK")
subsidiary, Cedar 2015 Limited ("Cedar"), for all the issued and to
be issued ordinary shares of API Group plc (LN:API) ("API") will
close to further acceptances at 1:00
P.M., London time, on
Thursday, March 19, 2015, and,
accordingly, no further shares of API will be accepted after such
time. In addition, Cedar has confirmed that the Offer price
of 60 pence per share of API share is
final and will not be increased.
As of 3:30 P.M., London time, on Wednesday, March 4, 2015, Cedar had received
valid acceptances of the Offer in respect of 27,970,774 shares of
API, representing, in aggregate, approximately 36.5% of the
existing issued share capital of API. Together with the 24,807,203
shares of API already owned by Cedar, Cedar now holds, or has
received valid acceptances in respect of, 52,777,977 shares of API,
representing, in aggregate, approximately 68.8% of the existing
issued share capital of API.
API is a manufacturer and distributor of foils, films and
laminates used to enhance the visual appeal of products and
packaging, serving industrial markets in Europe, North
America and Australasia from production operations in the UK
and US. Head-quartered in Poynton, North
West England, API's global operations employ more than 550
people in 15 locations.
About CoSine Communications
CoSine's Certificate of Incorporation limits the ability of any
group or person to acquire 5% or more of CoSine's common stock
(subject to certain exceptions as provided in the Certificate of
Incorporation).
CoSine's common stock is currently traded in the Pink Sheets
under the symbol COSN.PK and its website is www.cosinecom.com
Cautionary note regarding forward-looking statements
This press release contains certain forward-looking statements
with respect to the financial condition, results of operations and
business of the API and certain plans and objectives of the boards
of directors of Cedar, SPLP and CoSine. These forward-looking
statements can be identified by the fact that they do not relate
only to historical or current facts. Forward-looking
statements often use words such as "anticipate", "target",
"expect", "estimate", "intend", "plan", "goal", "believe", "will",
"may", "should", "would", "could" or other words of similar
meaning. These statements are based on assumptions and
assessments made by the boards of directors of Cedar and CoSine in
light of its experience and its perception of historical trends,
current conditions, expected future developments and other factors
it believes appropriate. By their nature, forward-looking
statements involve risk and uncertainty, and the factors described
in the context of such forward-looking statements in this press
release could cause actual results and developments to differ
materially from those expressed in or implied by such
forward-looking statements. Should one or more of these risks
or uncertainties materialise, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in this press release. Cedar and CoSine assume no
obligation to update or correct the information contained in this
press release, whether as a result of new information, future
events or otherwise, except to the extent legally required.
The statements contained in this press release are made as at
the date of this press release, unless some other time is specified
in relation to them, and issuance of this press release shall not
give rise to any implication that there has been no change in the
facts set out in this press release since such date. Nothing
contained in this press release shall be deemed to be a forecast,
projection or estimate of the future financial performance of API,
Cedar, SPLP or CoSine except where expressly stated.
Further information
This press release itself is not intended to constitute an offer
or solicitation to buy or exchange securities in API, nor shall
there be any sale or purchase of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful, whether
pursuant to the Offer or otherwise. The Offer is being
effected solely through a form offer document, which, together with
a form of acceptance (in relation to API shareholders holding
shares in certificated form only) contains the full details, terms
and conditions of the Offer, including the details of how to accept
the Offer (the "Offer Document"). Any response to the Offer
should be made only on the basis of the information contained in
the Offer Document. API shareholders are urged to read the
relevant Offer documents because they contain important information
that shareholders should consider before making any decision
regarding the tender of their shares. The Offer materials are
available for free at http://www.cosinecom.com/cedar/.
For additional information contact:
Terry Gibson
(408) 399-6494
Email: Terry.Gibson@spcorpservices.com
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SOURCE CoSine Communications, Inc.