Business
Final Closing Date Of Offer
Final Closing Date Of Offer.
About this update from Tracsis Plc
[{"type":"text","content":"\n \nRNS Number : 7990D Tracsis PLC 02 May 2013 \n \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 constitute a violation of the relevant laws or regulations of such jurisdiction.\n \n \n \nTRACSIS PLC\n \n(\"Tracsis\" or the \"Company\")\n \nRECOMMENDED CASH OFFER\nFOR THE ENTIRE ISSUED SHARE CAPITAL OF SKY HIGH PLC\n(other than those shares acquired by Tracsis under the Management Agreement and the Prowse Trust Agreement)\n \nFINAL CLOSING DATE OF OFFER\n \nBackground\n \nOn 26 March 2013 the boards of Sky High and Tracsis announced the terms of a recommended cash offer to be made by Tracsis for the entire issued ordinary share capital of Sky High, excluding the Management Roll Over Shares and the Prowse Trust Shares (as defined in the Offer Document) at 15.25p per Sky High Share (the \"Offer\"). The full terms of, and conditions to the Offer and the procedure for acceptance were set out in the offer document issued by Tracsis on 26 March 2013 (the \"Offer Document\").\n \nOn 17 April 2013, Tracsis announced that the Offer had become unconditional as to acceptances, and that pursuant to Rule 31.4 of the Takeover Code, the Offer would remain open for acceptances until 1.00pm on 1 May 2013.\n \nAccordingly, Tracsis confirms that the Offer has now expired.\n \nLevel of Acceptances\n \nAs at 1.00pm on 1 May 2013 (being the final closing date of the Offer), Tracsis had received valid acceptances from Sky High Shareholders in respect of 17,291,221 Sky High Shares representing approximately 97.01% of the Offer Shares and approximately 80.36% of the existing issued ordinary share capital of Sky High.\n \nThese acceptances include acceptances received in respect of:\n \n(i) 1,714,256 Sky High Shares (representing approximately 7.97% of the existing ordinary share capital of Sky High and 9.62% of the Offer Shares) which were subject to irrevocable commitments procured by Tracsis from certain Management Shareholders;\n \n(ii) 10,819,607 Sky High Shares (representing approximately 50.28% of the existing ordinary share capital of Sky High and 60.70% of the O...