Science Group PLC Cash offer for Frontier Smart Technologies Grp Ltd (1950G)
July 22 2019 - 2:00AM
UK Regulatory
TIDMSAG TIDMFST
RNS Number : 1950G
Science Group PLC
22 July 2019
22 July 2019
CASH OFFER
by
SCIENCE GROUP PLC
(Science Group or the Company)
for
FRONTIER SMART TECHNOLOGIES GROUP LIMITED
(Frontier)
Offer wholly unconditional
Offer closed
1. Introduction
It was announced on 1 July 2019 that Science Group would make an
offer (the Offer) to acquire the entire issued and to be issued
share capital of Frontier at a price of 35 pence per Frontier
Share. On 2 July 2019, Science Group published an offer document
setting out the full terms and conditions of the Offer (the Offer
Document).
2. Level of acceptances
Science Group announces that on 19 July 2019 the Company
purchased 416,069 shares in the capital of Frontier at a price of
35 pence per share. Following these purchases, the Company holds a
total of 16,662,043 shares in the capital of Frontier, equivalent
to 40.8 per cent. of the voting share capital of Frontier.
As at the closure of the Offer at 1.00 p.m. (London time) on 19
July 2019, the Company had received valid acceptances of its Offer
in respect of 2,785,388 Frontier shares, representing approximately
6.8 per cent. of the voting share capital of Frontier.
The Company is therefore interested in, in aggregate, 19,447,431
Frontier shares representing approximately 47.6 per cent. of the
voting share capital of Frontier.
3. Offer wholly unconditional
Science Group is pleased to declare the Offer wholly
unconditional.
4. Offer closed
The Offer and the Panmure Gordon Trading Facility are now
closed.
Unless otherwise stated, terms used in this announcement have
the same meanings as given to them in the Offer Document.
- Ends -
For further information:
Science Group plc
Martyn Ratcliffe, Chairman Tel: +44 (0) 1223
Rebecca Archer, Finance Director 875 200
Sarah Cole, Company Secretary
Panmure Gordon (UK) Limited
Dominic Morley / Alina Vaskina (Corporate Tel: +44 (0) 20 7886
Finance) 2500
Erik Anderson (Corporate Broking)
MHP Tel: +44 (0) 20 3128
Reg Hoare 8793
IMPORTANT NOTICES
Panmure Gordon (UK) Limited is acting exclusively for Science
Group and for no one else in relation to the matters described in
this announcement and is not advising any other person and
accordingly will not be responsible to anyone other than Science
Group for providing the protections afforded to the customers of
Panmure Gordon (UK) Limited or for providing advice in relation to
the matters described in this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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