6th Jul 2007 11:59
Sirius Financial Solutions PLC06 July 2007 Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where it would be unlawful to do so 6 July 2007 SIRIUS FINANCIAL SOLUTIONS PLC RECOMMENDED PROPOSALS FOR THE CASH AND SHARE ACQUISITION OF SIRIUS FINANCIAL SOLUTIONS PLC ("SIRIUS") BY SSP HOLDINGS PLC ("SSP") RESULT OF COURT HEARING The Sirius Board and the SSP Board are pleased to announce that the High Courtof Justice has today made an order sanctioning the scheme of arrangement toeffect the recommended Proposals for the cash and share acquisition of Sirius bySSP. Also today, the High Court of Justice made an order confirming theReduction of Capital of Sirius. The Effective Date of the Scheme is expected to be 9 July 2007 with thecancellation of admission of Sirius Shares to trading on AIM expected to be at7.00 a.m. on 10 July 2007. The commencement of trading on AIM of New SSP Sharesissued under the terms of the Scheme and the Placing Agreement is expected to beat 8.00 a.m. on 10 July 2007. Pending the Effective Date of the Scheme, trading in the Sirius Shares on AIM isexpected to be suspended after the close of business today. Cheques are expected to be dispatched (or CREST accounts credited) in respect ofthe cash consideration due under the Scheme by 23 July 2007. Definitivecertificates for the New SSP Shares are also expected to be dispatched by 23July 2007. It is expected that the New SSP Shares will be credited to CRESTaccounts on 10 July 2007. Capitalised terms used in this announcement have the same meanings as in theScheme Document. Enquiries: SSP Holdings PLC Sirius Financial Solutions PLCTel: +44 (0) 1422 330 022 Tel: +44 (0) 121 779 8400 David Rasche (Executive Chairman) Stephen Verrall (Chairman and Nick Bate (Finance Director) Group Chief Executive) Richard Bowser (Finance Director) Deloitte Corporate Finance Close Brothers(financial adviser to SSP) (financial adviser to Sirius)Tel: +44 (0) 113 243 9021 Tel: +44 (0) 20 7655 3100 Roger Esler Simon WillisSimon Houldsworth James Craven KBC Peel Hunt Brewin Dolphin Securities Limited(nominated adviser and broker to SSP) (nominated adviser and broker to Sirius)Tel: +44 (0) 20 7418 8900 Tel: +44 (0) 121 236 7000 Oliver Scott Ifor WilliamsNicholas Marren Weber Shandwick Financial College Hill(PR adviser to SSP) (PR adviser to Sirius)Tel: +44 (0) 20 7067 0700 Tel: +44 (0) 20 7457 2020 Nick Oborne Adrian DuffieldJohn Moriarty Ben WayCharlie Hooper The Sirius Directors accept responsibility for the information contained in thisannouncement other than the information for which the SSP Directors acceptresponsibility. To the best of the knowledge and belief of the Sirius Directors(who have taken all reasonable care to ensure that such is the case), theinformation contained in this announcement for which they accept responsibilityis in accordance with the facts and does not omit anything likely to affect theimport of such information. Close Brothers, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for Sirius and no one elsein connection with the Proposals and will not be responsible to anyone otherthan Sirius for providing the protections afforded to the clients of CloseBrothers nor for providing advice in relation to the Proposals or any othermatter referred to herein. Brewin Dolphin Securities Limited is acting as nominated adviser and broker toSirius in respect of the Proposals, and no one else in connection with theProposals and will not be responsible to anyone other than Sirius for providingthe protections afforded to the clients of Brewin Dolphin Securities Limited norfor providing advice in relation to the Proposals or any other matter referredto herein. The SSP Directors accept responsibility for the information contained in thisannouncement relating to the SSP Group and the SSP Directors. To the best ofthe knowledge and belief of the SSP Directors (who have taken all reasonablecare to ensure that such is the case), the information contained in thisannouncement for which they accept responsibility is in accordance with thefacts and does not omit anything likely to affect the import of suchinformation. Deloitte Corporate Finance is acting for SSP and for no one else in connectionwith the Proposals and will not regard any other person as its client nor beresponsible to anyone other than SSP for providing the protections afforded tothe clients of Deloitte Corporate Finance nor for providing advice in relationto the Proposals or any matter referred to herein. Deloitte Corporate Financeis a division of Deloitte & Touche LLP, which is authorised and regulated by theFinancial Services Authority in respect of regulated activities. KBC Peel Hunt is acting as nominated adviser and broker to SSP in respect of theProposals, and no one else in connection with the Proposals and will not beresponsible to anyone other than SSP for providing the protections afforded tothe clients of KBC Peel Hunt nor for providing advice in relation to theProposals or any other matter referred to herein. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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