Business
Tender Offer
Tender Offer.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 4373D Vislink PLC 23 March 2011 \n \n\n \nVislink plc (the \"Company\")\n \n \nProposed return of capital of up to £5 million by way of a Tender Offer\n \nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OF INDIRECTLY, IN OR INTO THE UNITED STATES, Canada, Australia, South Africa and Japan and any other jurisdiction IN WHICH THE SAME WOULD BE UNLAWFUL (EACH A \"RESTRICTED JURIDISCTION\")\n \nTHE TENDER OFFER IS NOT AVAILABLE TO SHAREHOLDERS WITH A REGISTERED ADDRESS IN ANY RESTRICTED JURISDICTION. OVERSEAS SHAREHOLDERS SHOULD NOTE THAT THEY SHOULD SATISFY THEMSELVES THAT THEY HAVE FULLY OBSERVED ANY APPLICABLE LEGAL REQUIREMENTS UNDER THE LAWS OF THEIR RELEVANT JURISDICTION IF THEY TENDER SHARES IN THE TENDER OFFER. THE ATTENTION OF SHAREHOLDERS WITH REGISTERED ADDRESSES OUTSIDE THE UNITED KINGDOM IS DRAWN TO THE PARAGRAPH HEADED \"OVERSEAS SHAREHOLDERS\" IN PART II OF THE CIRCULAR.\n \nThe Company is pleased to announce that it is today publishing a circular (the \"Circular\") to shareholders of the Company (the \"Shareholders\") detailing a proposed tender offer pursuant to which Evolution Securities Limited (\"Evolution\") will purchase up to 24,691,358 ordinary shares of 2.5 pence each in the Company (the \"Shares\") representing approximately 17.8 per cent. of the current issued share capital of the Company at a price of 20.25 pence per Share (being the closing mid-market price of the Shares on 22 March 2011, the last dealing day before the date of this announcement) (the \"Tender Offer\"). The Company will then repurchase such Shares from Evolution for cancellation (the \"Repurchase\"). \nTerms used in this announcement shall have the meaning ascribed to them in the Circular unless otherwise stated.\nIf the maximum number of Shares under the Tender Offer and Repurchase are acquired, this will result in an amount of £5 million being paid to Qualifying Shareholders. \nThe authorisation of the Repurchase and accordingly, the implementation of the Tender Offer requires, inter alia, the approval of Shareholders. Therefore, attached to the Circular is a notice of a general meeting of the Company to be held 10.00 a.m. on 8 April 2011 at the offices of the Company at Marlborough House, Charnham Lane, Hungerford, Berkshire RG17 0EY....