10th Nov 2006 07:01
Sondex PLC10 November 2006 Sondex plc ("Sondex" or the "Company") Posting of Supplementary Prospectus & Open Offer Result 10 November 2006 On 9 November 2006, the Company posted a Supplementary Prospectus to itsShareholders concerning the change of recommendation of the Board in relation tothe proposed acquisition of Innicor Subsurface Technologies Inc. and the FirmPlacing and Placing & Open Offer, Sondex's unaudited interim results for the sixmonths ended 31 August 2006 and Innicor's unaudited interim results for thethird quarter ended 30 September 2006. Shareholders' attention is drawn to the change of recommendation by the Board asstated in the Supplementary Prospectus. The Board now strongly advisesShareholders to vote against all resolutions to be proposed at the ExtraordinaryGeneral Meeting to be held at 4.00pm on 16 November 2006. On 19 October 2006, Sondex announced details of a proposed Firm Placing of7,575,481 New Ordinary Shares and Open Offer of 8,104,322 New Ordinary Shares at280 pence per New Ordinary Share, of which 7,575,481 New Ordinary Shares havebeen placed firm and 8,104,322 New Ordinary Shares were being placedconditionally subject only to clawback to satisfy valid acceptances under theOpen Offer. The Open Offer has now closed in accordance with its terms. The Board of Sondexannounces that valid acceptances under the Open Offer have been received fromQualifying Shareholders in respect of 2,486,633 Open Offer Shares. Thisrepresents approximately 30.7 per cent. of the Open Offer Shares offeredpursuant to the Open Offer. As a result of the acceptances received under the Open Offer, the balance of5,617,689 Open Offer Shares, representing 69.3 per cent. of the 8,104,322 NewOrdinary Shares placed subject to clawback, will fall to be taken up by theinstitutional investors with whom shares have been conditionally placed. The Firm Placing, Placing and Open Offer remain conditional upon the passing ofthe Resolutions to be proposed at the Extraordinary General Meeting to be heldat 4.00pm on 16 November 2006 and upon Admission. The final time and date for receipt of Forms of Proxy in relation to theExtraordinary General Meeting is 4.00 p.m. on 14 November 2006. Completion andreturn of a Form of Proxy will not preclude Shareholders from attending andvoting in person at the Extraordinary General Meeting. Shareholders' attention is drawn to the change of recommendation by the Board asstated in the Supplementary Prospectus. The Board now strongly advisesShareholders to vote against all resolutions to be proposed at the ExtraordinaryGeneral Meeting to be held at 4.00pm on 16 November 2006. For further information please contact: Sondex Tel: 01252 862 200Martin Perry (Chief Executive)Chris Wilks (Finance Director) Investec Tel: 020 7597 5970James Grace / Patrick Robb College Hill Tel: 020 7457 2020Nick Elwes / Paddy Blewer www.sondex.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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