TIDMPTS

RNS Number : 6247U

Pattington Limited

23 December 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

23 December 2011

RECOMMENDED CASH OFFER FOR

PATSYSTEMS PLC

BY

PATTINGTON LIMITED

Posting of Offer Document

On 20 December 2011, the boards of Patsystems Plc ("Patsystems") and Pattington Limited ("Pattington"), a member of the ION Group, announced that they had reached agreement on the terms of a recommended cash Offer by Pattington of the entire issued and to be issued share capital of Patsystems not already held by Pattington whereby shareholders of Patsystems will receive 14 pence per Patsystems Share.

The boards of Patsystems and Pattington are pleased to announce that the offer document (the "Offer Document") which sets out, amongst other things, the full terms and conditions of the Offer, a timetable of principal events and details of the actions to be taken by Patsystems Shareholders, was posted to Patsystems Shareholders today. Participants in the Patsystems Share Schemes are also being sent further details of the actions they can take in respect of the Offer.

The anticipated timetable of principal events is as follows:

 
 Event                                                    Time and/or date 
 
 Publication of the Offer Document                        23 December 2011 
 Latest time and date for Patsystems Shareholders     3.00 p.m. 25 January 
  to accept the offer                                                 2012

Copies of the Offer Document will be available for inspection during normal business hours on any weekday (Saturdays, Sundays and public holidays excepted) at the offices of Pattington's solicitors, Allen & Overy LLP, One Bishops Square, London E1 6AD and at Pattington's and Patsystems' websites www.pattingtonlimited.com and www.patsystems.com.

Unless otherwise stated, all references in this announcement are to London time.

Terms and expressions used in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the announcement of 20 December 2011 and the Offer Document.

Enquiries:

Pattington +44 (0) 20 7398 0200

Yohannah Walford, Corporate M&A

Investec (Financial Adviser to Pattington) +44 (0) 20 7597 5000

David Currie / Andrew Pinder

Dominic Emery

Patsystems

Richard Last, Non-Executive Chairman +44 (0) 7713 214 484

David Webber, Chief Executive +44 (0) 20 7940 0490

Numis (Financial Adviser to Patsystems) +44 (0) 20 7260 1000

Michael Meade / Richard Thomas as Nominated Adviser

David Poutney as Corporate Broker

   Threadneedle Communications (PR adviser to Patsystems)                      +44 (0) 207 653 9850

Graham Herring

Josh Royston

Notices

This announcement is not intended to and does not constitute an offer to sell or subscribe for or any invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise. The Offer will be made solely through the Offer Document, which will contain the full terms and conditions of the Offer, including details of how to vote in respect of the Offer. Any approval, decision or other response to the Offer should be made only on the basis of the information in the Offer Document. Offer Shareholders are strongly advised to read the formal documentation in relation to the Offer.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFEUFDDFFSEDE

Patsystems (LSE:PTS)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Patsystems Charts.
Patsystems (LSE:PTS)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Patsystems Charts.