18th Aug 2006 15:39
Eurotech S.p.A18 August 2006 PRESS ANNOUNCEMENTFOR IMMEDIATE RELEASE 18 August 2006EUROTECH S.P.A. ("EUROTECH") RESPONSE TO SHARE PRICE MOVEMENT IN RADSTONE TECHNOLOGY PLC ("RADSTONE") The Board of Eurotech notes Radstone's recent share price rise. Eurotech confirms that it has made two approaches to the Board of Radstone witha view to commencing discussions which may or may not lead to a cash offer byEurotech for the entire issued and to be issued share capital of Radstone. Theseapproaches were rejected by the Board of Radstone. Eurotech is currentlyevaluating whether or not to make another approach to the Board of Radstone;however there can be no certainty that an offer will be made. A further announcement will be made in due course. About Eurotech Eurotech is a leader in the innovative design and development of highperformance and low power embedded computing systems. The Eurotech group marketsminiaturized computers and high performance computers. On 1 April 2006, Eurotech acquired Arcom Control Systems Limited and ArcomControl Systems Inc. from Spectris plc. Following this acquisition, the Eurotechgroup had 256 employees and a combined pro forma 2005 turnover of approximately€53 million. Eurotech listed on the Italian stock exchange, organised and regulated by theBorsa Italiana S.p.A., on 30 November 2005. On 1 August 2006, Eurotech completeda €109 million equity fundraising. Eurotech has a market capitalisation ofapproximately €340 million. Dealing disclosure requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the'City Code'), if any person is, or becomes, 'interested' (directly orindirectly) in one per cent. or more of any class of 'relevant securities' ofRadstone, all 'dealings' in any 'relevant securities' of Radstone (including bymeans of an option in respect of, or a derivative referenced to, any such'relevant securities') must be publicly disclosed by no later than 3.30 pm(London time) on the London business day following the date of the relevanttransaction. This requirement will continue until the date on which the offerbecomes, or is declared, unconditional as to acceptance, lapses or is otherwisewithdrawn or on which the 'offer period' otherwise ends. If two or more personsact together pursuant to an agreement or understanding, whether formal orinformal, to acquire an 'interest' in 'relevant securities' of Radstone theywill be deemed to be a single person for the purpose of Rule 8.3. Under the provision of Rule 8.1 of the City Code, all 'dealings' in 'relevantsecurities' of Radstone by Eurotech or Radstone or by any of their respective'associates', must be disclosed by no later than 12.00 noon (London time) on theLondon business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevantsecurities' 'dealings' should be disclosed, and the number of such securities inissue, can be found on the Panel's website at www.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an 'interest' byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative reference to, securities. Terms in quotation marks are defined in the City Code, which can also be foundon the Panel's website. If you are in any doubt as to whether or not you arerequired to disclose a 'dealing' under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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