Vislink PLC
5 December 2000
VISLINK PLC
VISLINK PLC ('Vislink' or 'the Company')
Suspension of trading in Vislink shares
At the request of the Company, the London Stock Exchange and the Irish Stock
Exchange suspended trading in shares in Vislink at 7.45 a.m. today.
The Board of Vislink is pleased to announce that it has been able to implement
the scheme of arrangement ahead of the original schedule set out in its
circular to shareholders dated 24 October 2000. The scheme became effective on
Thursday 30 November 2000.
The suspension has been granted in order to allow the implementation of the
scheme of arrangement under Section 201 of the Companies Act, 1963 of Ireland
whereby a new UK incorporated company ('NewCo'), also called Vislink plc, will
become the new holding company for Vislink and its subsidiaries.
Following the suspension, Vislink's register will be closed and the entire
issued share capital of Vislink will be de-listed from the London Stock
Exchange at 8.00 a.m. on Wednesday, 6 December 2000. Registered holders of
shares in Vislink will receive one NewCo share for each Vislink share held.
Admission of the shares of NewCo to the Official List of the UK Listing
Authority is expected to take place and trading in these shares on the London
Stock Exchange is expected to commence at 8.00 a.m. on Wednesday, 6 December
2000. Trading of the NewCo shares on the Irish Stock Exchange will commence as
soon as possible.
NewCo share certificates will be posted to shareholders who hold their Vislink
shares in certificated form by Friday, 15 December 2000. Shareholders holding
their Vislink shares in CREST will have their accounts credited with NewCo
shares.
Enquiries:
James Trumper
Group Finance Director, Vislink plc
01488 685500
Michael Ansell
Investec Henderson Crosthwaite
020 7597 5970