IN BRIEF: Smart Metering Systems urges shareholders to take KKR offer

Smart Metering Systems PLC - Glasgow-based energy management services provider - Urges shareholders who have not done so to accept the takeover offer by Kohlberg Kravis Roberts & Co LP by the deadline date of March 24. KKR is an investment firm specialising in private equity, energy, infrastructure and real estate. KKR has so far received valid acceptances in respect of 41.3 million SMS shares, representing around 31% of the company's total share capital. KKR requires acceptances for shares carrying more than 50% of the voting rights of SMS in order to exercise the acceptance condition of its January takeover offer.

In January, Smart Metering agreed to a takeover offer from KKR, for 955p in cash for each share in the company. The offer values the company's entire share capital at around GBP1.3 billion.

Current stock price: 947.00 pence per share, down 0.1% in London on Thursday afternoon

12-month change: up 11%

By Hugh Cameron, Alliance News reporter

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