Network Technology - Acquisition Completed, etc
September 24 1997 - 1:27PM
UK Regulatory
RNS No 3256n
NETWORK TECHNOLOGY PLC
24th September 1997
NETWORK TECHNOLOGY PLC
Completion of Nextus Inc. Acquisition
Further to the announcement made on 25 July 1997, Network Technology is
pleased to report that it has completed the acquisition of the entire issued
share capital of Nextus Inc. The total consideration is $625,000 satisfied by
the issue of 93,521 ordinary shares of 10p each and the $375,000 in cash.
The 93,521 ordinary shares will rank pari passu in all respects with the
existing ordinary shares. Application will be made to the London Stock
Exchange for the new ordinary shares to be admitted to the Official List. It
is expected that admission will become effective and trading in the new
ordinary shares will commence on Thursday, 2 October 1997.
Enquiries to:
Klaus Bollmann Network Technology 01444 870408
Brendan Russell Singer & Friedlander 0171 623 3000
Charles Dampney Burrough Johnstone 01273 486244
Leo Cavendish Bankside Consultants 0171 220 7477
Note to Editors:-
Nextus is a US manufacturer, which has some 20 employees and annual sales of
around $2 million. Nextus is led by Chief Executive Dave Sanders following a
management buy-out from its previous owners in December 1996. Nextus
manufactures plotters and controllers for JRL Systems Inc.
END
ACQALLLDARISFAD
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