Manpower Software PLC
12 September 2002
12 September 2002
MANPOWER SOFTWARE PLC ("THE COMPANY")
LAPSE OF WARRANTS AND CANCELLATION OF THEIR TRADING ON AIM
Manpower Software plc announces that the subscription period during which
holders of the Company's 2,386,690 outstanding warrants to subscribe at 67p ("
Subscription Price") each for one ordinary share of 5p in the Company ("Ordinary
Share") ("Warrants") ended on 31 August 2002.
The warrant deed dated 16 December 1999 (as amended) ("Warrant Deed") requires
the Company to appoint a trustee who, provided that in his opinion the net
proceeds of sale per Ordinary Share after deduction of all costs and expenses
incurred by him will exceed the Subscription Price, shall exercise outstanding
Warrants on behalf of Warrantholders and shall sell in the market the Ordinary
Shares acquired on such subscription. If the trustee is not of this opinion,
the outstanding Warrants will lapse on the fifteenth day following the expiry of
the subscription period.
The mid-market price of an Ordinary Share on 30 August 2002 (being the last
dealing day prior to the end of the subscription period) was 11.75p.
Accordingly, the outstanding Warrants will be allowed to lapse on 15 September
2002 and their trading on the Alternative Investment Market of the London Stock
Exchange will be cancelled as at close of business on 13 September 2002.
Contacts:
Manpower Software plc
Simon Thorne, Finance Director (020) 7389 9500
Strand Partners Limited
Rory Murphy, Director (020) 7409 3494
END
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