RNS Number : 4627Z
  Financial Objects PLC
  21 July 2008
   

    Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction (including the United States,
Canada, Australia and Japan) where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.


    19 JULY 2008


    RECOMMENDED CASH ACQUISITION by TEMENOS GROUP AG of FINANCIAL OBJECTS PLC
    POSTING OF SCHEME DOCUMENT

    On 3 July 2008, the boards of Temenos Group AG ("Temenos") and Financial Objects plc ("Financial Objects") announced that they had
reached agreement on the terms of a recommended cash acquisition ("the Acquisition") by Temenos UK Limited, a subsidiary of Temenos, of the
entire issued and to be issued share capital of Financial Objects, to be effected by means of a Court approved scheme of arrangement under
Part 26 of the Companies Act 2006 (the "Scheme").

    The board of Financial Objects is pleased to announce that a circular, which sets out, amongst other things, the full terms and
conditions of the Scheme and an explanatory statement, together with the action to be taken by Financial Objects Shareholders (the "Scheme
Document"), has been posted to Financial Objects Shareholders. Notices convening the Court Meeting and the General Meeting to be held at the
offices of Eversheds LLP, One Wood Street, London EC2V 7WS on 11 August 2008 at 2.00 p.m. and 2.15 p.m. (or as soon thereafter as the Court
Meeting is concluded or adjourned), respectively, are contained in the Scheme Document. Subject to the satisfaction or waiver of the
conditions of the Scheme, it is currently expected that the Scheme will become effective on 10 September 2008. If any of the expected dates
change, Financial Objects will give notice of the change by issuing an announcement through a Regulatory Information Service.

    In accordance with Rules 20 and 26 of the Aim Rules for Companies, an electronic copy of the Scheme Document has been sent to the London
Stock Exchange and made available on Financial Objects' website.

    Unless the context otherwise requires, terms defined in the announcement dated 3 July 2008 have the same meaning in this announcement.

 ENQUIRIES:

 Financial Objects                         Tel: +44 (0)20 7836 3010
 Karim Peermohamed
 Peter Youngs

 Evolution Securities                      Tel: +44 (0)20 7071 4300
 (financial adviser to Financial Objects)
 Stuart Andrews
 Neil Elliot

 Financial Dynamics                        Tel: +44 (0)20 7831 3113
 (PR adviser to Financial Objects)
 James Melville Ross

 Temenos                                   Tel: +44 (0)20 7290 3000
 Max Chuard
 Ben Robinson

 Lazard                                    Tel: +44 (0)20 7187 2000 
 (financial adviser to Temenos and 
 Temenos UK Limited)
 Nicholas Jones
 Cyrus Kapadia

 Hudson Sandler                            Tel: +44 (0)20 7796 4133
 (PR adviser to Temenos) 
 James White
 Andrew Hayes


    
    
 
Evolution, which is authorised and regulated in the United Kingdom by the Financial Services Authority for designated investment business,
is acting exclusively for Financial Objects and no one else in connection with the Acquisition and will not be responsible to anyone other
than Financial Objects for providing the protections afforded to clients of Evolution Securities Limited nor for providing advice in
relation to the Acquisition, the content of this announcement or any matter referred to herein.
 
Lazard, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Temenos and
Temenos UK Limited and no one else in connection with the Acquisition and will not be responsible to anyone other than Temenos and Temenos
UK Limited for providing the protections afforded to clients of Lazard nor for providing advice in relation to the Acquisition, the content
of this announcement or any matter referred to herein.
 
DEALING DISCLOSURE REQUIREMENTS
 
Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes, "interested" (directly or indirectly) in one per cent. or
more of any class of "relevant securities" of Financial Objects all "dealings" in any "relevant securities" of Financial Objects (including
by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later
than 3.30 p.m. (London time) on the Business Day following the date of the relevant transaction. This requirement will continue until the
Scheme lapses, is withdrawn, or upon the "offer period" otherwise ending. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Financial Objects, they will be deemed to be
a single person for the purposes of Rule 8.3.
 
Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant securities" of Financial Objects, by Temenos or Financial
Objects, or any of their respective "associates", must also be disclosed by no later than 12.00 noon (London time) on the Business Day
following the date of the relevant transaction.
 
A disclosure table, giving details of the companies whose *dealings* in "relevant securities" should be disclosed, and the number of
securities in issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.
 
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the
price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or
by virtue of any option in respect of or derivative referenced to, securities.
 
Terms in quotation marks are defined in the City Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a dealing under Rule 8, you should consult the Panel.
 
If you are in any doubt as to the application of Rule 8 to you, please contact an independent financial adviser authorised under FSMA 2000,
consult the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on telephone number +44 (0) 20 7638 0129; fax number +44 (0)
20 7236 7013.
 
The Financial Objects Directors accept responsibility for the information contained in this announcement relating to Financial Objects and
the Financial Objects Directors. To the best of the knowledge and belief of the Financial Objects Directors (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
 
  END 
 
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