Business
Response
Response.
About this update from Restore Plc
[{"type":"text","content":"\n Radstone Technology PLC\n30 August 2006\n\n\nFor Immediate Release 30 August 2006\n\n\n RADSTONE TECHNOLOGY PLC\n\n (\"Radstone\" or the \"Company\")\n\n Offer by Eurotech S.p.A. (\"Eurotech\") for the Company\n\n\nThe Board of Radstone notes the announcement by Eurotech regarding a cash offer\nfor Radstone at 360 pence per ordinary share (the \"revised offer\").\n\nOn 11 August 2006, Eurotech approached the Board of Radstone in relation to a\nproposed cash offer of not less than 350 pence per share. The Board of Radstone\nreviewed the proposals carefully, in conjunction with its financial advisers\nClose Brothers and with its stockbrokers JPMorgan Cazenove, and unanimously\nconcluded that the proposals significantly undervalued the Company and its\nprospects and as such, the Board of Radstone unanimously rejected Eurotech's\nproposals.\n\nThe revised offer of 360 pence per ordinary share represents an increase of, at\nmost, 2.9 per cent. above the previous proposal. Accordingly the Board remains\nunanimously of the view that the revised offer undervalues the Company.\n\nShareholders are strongly advised to take no action in respect of their\nshareholdings. The Board is fully committed to explore all options in order to\nmaximise shareholder value, and a further announcement will be made in due\ncourse.\n\nEnquiries\nRadstone Technology plc Tel: 01327 359 444\n\nJeff Perrin, Chief Executive\n\nPeter Cavill, Director\n\nClose Brothers Corporate Finance Limited Tel: 020 7655 3100\n\nSimon Willis\n\nAndrew Cunningham\n\nDavid Wardrop\n\nJPMorgan Cazenove Tel: 020 7588 2828\n\nJulian Cazalet\n\nShona Graham\n\nDavid Harvey-Evers\n\nBuchanan Communications Tel: 020 7466 5000\n\nMark Edwards\n\nNicola Cronk 07973 313 365\n\nSusanna Gale\n\n\n\n\nThe directors of Radstone accept responsibility for the information contained in\nthis announcement. To the best of the knowledge and belief of the directors of\nRadstone (who have taken all reasonable care to ensure that such is the case),\nthe information contained in this announcement is in accordance with the facts\nand does not omit anything likely to affect the import of such information.\n\nClose Brothers Corporate Finance Limited which is regulated by The Securities\nand Futures Authority Limited in the United Kingdom, is acting for Radstone and\nno one else in connection with this ...