Result of Tender Offer

RNS Number : 6608J
EBT Mobile China PLC
05 December 2008

EBT Mobile China plc
05 December 2008

EBT Mobile China plc ('EBT Mobile' or 'the Company')

1. Introduction

On 22 October 2008 the Company announced proposals, inter alia, to cancel the admission of its Ordinary Shares to trading on AIM and to
purchase Ordinary Shares by way of the Tender Offer. Defined terms in the circular sent to shareholders on 22 October 2008 bear the same
meanings in this announcement.

2. Tender Offer

A maximum of 22,170,089 Ordinary Shares may be purchased under the Tender Offer, at a price of 6 pence per share, representing
approximately 10.0 per cent. of the issued share capital of the Company as at 22 October 2008.

EBT Mobile has received valid elections for an aggregate of 73,202,179 Ordinary Shares, representing approximately 32.6 per cent. of the
current issued share capital of the Company as enlarged for the prospective issue of share options. The current issued share capital of the
Company is 222,677,220 Ordinary Shares and up to 1,632,693 additional Ordinary Shares will be issued prior to completion of the Tender Offer
pursuant to the valid exercise of options.

The Basic Entitlement in the Tender Offer is approximately 19.9%. In accordance with the terms of the Tender Offer, the board has
resolved to satisfy in full applications from holders of 50,000 or fewer Ordinary Shares who have tendered their entire shareholdings.
Following the reallocation of unused entitlements, the Company will on Completion of the Tender Offer reduce the number of registered
holders by 76. This will bring modest administrative cost savings to the Company. A small amount of unused remaining entitlements has been
reallocated to other Tender Offer Shareholders pro rata to the number of shares each has validly tendered. Individual entitlements will
vary, however, as a result of both the allocations made to holders of 50,000 or fewer Ordinary Shares who tendered their entire
shareholdings and the number of Ordinary Shares validly tendered by an individual Shareholder.

Certain directors, members of management and staff will have validly tendered 6,511,999 Ordinary Shares (including by way of exercised
options) representing approximately 7.2% of their aggregate shareholdings including shares to be issued pursuant to the valid exercise of
options.

As a result of the number of valid elections received, some Shareholders who have tendered their entire holding will not receive the
full amount they have tendered.

The Tender Offer will be effected by Panmure Gordon purchasing Ordinary Shares as principal at a price of 6 pence per Ordinary Share and
then selling such Ordinary Shares on the London Stock Exchange to the Company for cancellation pursuant to the Repurchase Agreement.

The Tender Offer is conditional upon (i) the Court approval of the Capital Reduction; (ii) the issue by the registrar of Companies of a
Certificate in relation to the Capital Reduction; and (iii) the Repurchase Agreement becoming unconditional. If these conditions are not
satisfied, the Tender Offer will not be completed. Subject satisfaction of these conditions, the Tender Offer will be completed on 15
December 2008. CREST accounts are expected to be credited with Tender Offer proceeds on 16 December 2008 and cheques, with balance share
certificates as appropriate, are expected to be dispatched on the same date.

Ordinary Shares purchased in the Tender Offer will be cancelled by the Company on completion of the Tender Offer and the Company's
issued share capital will accordingly decrease.

3. De-listing and Matched Bargain Facility

De-listing (cancellation of the Ordinary Shares to trading on AIM) is expected to take place on 17 December 2008 regardless of whether
the conditions set out above have been satisfied. Following de-listing, the Company intends to set up a matched bargain facility which will
be available to Shareholders wishing to indicate any buying or selling interest in the Company's Ordinary Shares.

Further announcements will be made as appropriate, including to confirm the result of the Court Hearing, the Tender Offer being
completed and the De-listing becoming effective.

Enquiries:

EBT Mobile
Jim Reiman, Non-Executive Chairman 001 847 784 8100
Stephen Davidson, Non-Executive Director 0781 801 2281

Panmure Gordon (UK) Limited 020 7459 3600
Aubrey Powell
Giles Stewart

Weber Shandwick Financial 020 7067 0700
Terry Garrett
Stephanie Badjonat
John Moriarty

This information is provided by RNS
The company news service from the London Stock Exchange

END

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