Business
Statement re Possible Offer
Statement re Possible Offer.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 2724N Pinnacle Technology Group PLC 05 September 2013 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD BE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION (EACH A \"RESTRICTED JURISDICTION\")\n \nPinnacle Technology Group plc (\"Pinnacle\" or the \"Company\")\n \nUpdate on possible offer\n \n \nPinnacle Technology Group plc (AIM:PINN), the AIM listed, IT Managed Services Provider, notes the announcement made by the Board of Coms plc (\"Coms\") on 3 September 2013 regarding its consideration of a possible corporate transaction with Pinnacle that could result in an offer by Coms for the entire issued and to be issued ordinary share capital of Pinnacle being made.\nThe Company's Board confirms that it has since received a non-binding indicative offer for the entire issued and to be issued ordinary share capital of Pinnacle on the expected terms as described in the Coms announcement. \nThe Board believes that such an indicative offer is opportunistic and significantly undervalues the growth prospects of the Company. As such the Board of Pinnacle is not recommending the offer to its shareholders.\n\n5 September 2013\n \n \nAll Company announcements can be found at: http://www.pinn.uk.com \n \n \nFor further information please contact: \n \nPinnacle Technology Group plc Tel: +44 845 180 7474 \nAlan J Bonner, Chief Executive \n \nN+1 Singer \nShaun Dobson / Matt Thomas Tel: +44 20 7496 3000 \n \n \nNewgate Threadneedle  ...