Business
Tender Offer Result
Tender Offer Result.
About this update from Pebble Beach Systems Group Plc
[{"type":"text","content":"\n \nRNS Number : 6337E Vislink PLC 11 April 2011 \n \n\n \nVislink plc (the \"Company\")\n \nResult of Tender Offer\n \n \nThe Company is pleased to announce that pursuant to the Tender Offer which closed at 3.00 p.m. on 8 April 2011, valid tenders have been received for 38,700,605 Shares representing approximately 157 per cent. of the Shares subject to the Tender Offer. \n \nIn accordance with the terms of the Tender Offer, Shareholders who tendered to sell less than or equal to 17.8 per cent. of their shareholdings (\"Pro Rata Entitlement\") will have their tender satisfied in full. Shareholders who tendered more than their Pro Rata Entitlement, will have their Pro Rata Entitlement satisfied in full and any Shares tendered above their Pro Rata Entitlement will be scaled down (to the nearest whole number of Shares) by a factor of approximately 0.43308293. Accordingly, Evolution will purchase the maximum number of Shares available under the terms of the Tender Offer (after roundings from the scaling down of tenders), being in aggregate 24,691,358 Shares (the \"Tendered Shares\") at 20.25 pence per Tendered Share, for a total consideration of approximately £5 million. \n \nThe posting of cheques in respect of certificated Shares purchased pursuant to the Tender Offer and the crediting of CREST accounts for uncertificated Shares purchased pursuant to the Tender Offer are expected to occur by 15 April 2011.\n \nThe crediting of CREST accounts with uncertificated Shares unsuccessfully tendered and the dispatch of balance share certificates for unsold certificated Shares and the return of share certificates for unsuccessful tenders of certificated Shares are also expected to occur by 15 April 2011.\n \nShares purchased under the Tender Offer will be cancelled by the Company on completion of the Tender Offer and the Repurchase. The Company will announce when the Tender Offer and Repurchase has been completed and the Shares have been cancelled. \n \nTerms used in this announcement shall have the meaning ascribed to them in the circular sent to Shareholders on 23 March 2011 unless otherwise stated. \n \n \nFor further information, please contact:\n \nJames Trumper, Group Finance Director &...