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Further to our previous correspondence of 26th March 2014, as at 3.00pm on 28th March 2014, PDJ had received valid acceptances of the Offer in respect of approximately 70.4 percent of the shares subject to the offer. The aggregate interest of PDJ Bidco and the Concert Party was 87.81 percent. Subsequently, the Offer has been further extended. Please be advised that PDJ has almost received sufficient acceptances to exercise its rights pursuant to the provisions of Chapter 3, Part 28 of the Companies Act 2006 to acquire compulsorily the remaining Expansys shares on the same terms as the Offer, as such we are taking up the Offer on behalf of all our remaining shareholders unless advised otherwise. The Independent Directors of Expansys having been so advised by N Plus 1 Singer consider the terms of the Offer to be fair and reasonable and therefore unanimously recommend that Expansys shareholders accept the Offer. As the Offer has reached its required level of acceptances for the cancellation of the Expansys shares, and subject to any applicable requirements of the Alternative Investment Market (AIM) Rules, PDJ has procured the making of an application by Expansys to the London Stock Exchange (LSE) for the cancellation of trading of Expansys shares on AIM. The Cancellation is expected to take effect on 14th April 2014 with the last day of trading expected to be 11th April 2014. You should be aware that if you do not take up the offer and have not sold or otherwise transferred your shares prior to the cancellation of the listing you will not be able to sell or otherwise deal in them on AIM after that time. Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an appropriate professional advisor. Please note that following our acceptance on your behalf, your shares will be removed from your account and will not be available for you to sell. Should you wish to find more information about the Offer, please visit the Expansys website, www.expansys.com/.
If don't accept the offer, I become a minority share holder in a de-listed company. Otherwise the share dealing company will sell the shares and transfer the money to my account. They don't receive any commission as I didn't sell before 09/04/2014.
PDJ Bidco Limited (PDJ) has announced a further extension of the recommended Cash Offer (Offer) for the entire issued and to be issued share capital of Expansys PLC (Expansys) on the following basis: 0.65 pence in cash for each Expansys share held. Please be advised that as PDJ Bidco has applied for the cancellation of Expansys from the Alternative Investment Market (AIM) shortly, we will take up the Offer on behalf of all our remaining shareholders. As a result we will not be communicating any further acceptances that may be issued by the Company. Should you not wish us to accept the Offer on your behalf and wish us to withdraw your holding as a certificate (usual charges will apply), please call our call centre before 9th April 2014 to advise us not to accept the offer on your behalf.
Before making any decision please take into consideration all relevant factors of the event including the current share price and any possible tax implications. If you require any further information in making your decision please contact an appropriate professional advisor. Should you choose not to accept the Offer at this time, we will contact you again if the Offer is extended, the terms of the Offer change, the stock is compulsorily acquired or if we are notified that the Offer is closing. Please note that acceptance to this Offer will only be applied to your holding at the time we process your instruction. Please note that should you elect to accept the Offer, your shares will be removed from your account and will not be available for you to sell once your instruction has been accepted. Should you wish to find more information about the Offer, please visit the Expansys website, www.expansys.com/.
You Have The Following Option: 1 Accept the Offer on your holding of 965078 EXPANSYS PLC ORD GBP0.0025 shares. We will process your instruction on or after 28 February 2014 and your election will be applied to your holding at this time. If you elect to accept the Offer, your shares will not be available for you to sell, or to accept any other Offer unless this Offer lapses. Please note that if you accept the Offer and proceed to sell your shares, you may be liable to buy back costs. Important Information & Other Key Dates: On 12th February 2014, Expansys announced that it had entered an agreement with PDJ to acquire its entire issued and to be issued share capital. The Offer values the whole of the issued share capital of Expansys at approximately GBP7.2 million. The Offer represents a premium of approximately 33 percent to the Closing Mid-Market Price of 0.465 pence per Expansys share on 14th January 2014, this being the last Business Day prior to the commencement of the Offer period. PDJ holds or has received irrevocable undertakings to accept the Offer in respect of 638,934,559 Expansys shares representing approximately 54.99 percent of the existing issued share capital of the Company. The Independent Directors of Expansys having been so advised by N Plus 1 Singer consider the terms of the Offer to be fair and reasonable and therefore unanimously recommend that Expansys shareholders accept the Offer. Assuming the Offer becomes or is declared in all respects and subject to any applicable requirements of the Alternative Investment Market (AIM) Rules, PDJ intends to procure the making of an application by Expansys to the London Stock Exchange (LSE) for the cancellation of trading of Expansys shares on AIM. The Cancellation is expected to take effect no earlier than twenty business days after the Offer becomes or is declared unconditional. If PDJ receives acceptances under the Offer in respect of, and/or otherwise acquires 90 percent or more of the Expansys shares and assuming that all of the other conditions of the Offer have been satisfied or waived, PDJ intends to exercise its rights pursuant to the provisions of Chapter 3, Part 28 of the Companies Act 2006 to acquire compulsorily the remaining Expansys shares on the same terms as the Offer. Please be aware that should you choose to accept the Offer, your entitlement will not be released until the Offer has been declared unconditional in all respects, as stipulated in the Takeover Code. Once the Offer has been declared unconditional in all respects, payment is expected to be made around ten working days following the date of such announcement. You can monitor the progress of the Offer's acceptances through any regulatory news provider. However, we will notify you once your entitlement has been credited to your account. If you wish to accept the Offer, please do so as soon as possible as the Offer may not be extended.