Moving on up !!7 Sep 2010 00:32
Offer unconditional in all respects
On 30 July 2010, Digital Barriers made a recommended cash offer for the entire issued and to be issued ordinary share capital of COE.
The Offer Document was posted to COE Shareholders on 30 July 2010.
The Board of Digital Barriers is pleased to announce that all of the conditions to the Offer have now been satisfied or waived and, accordingly, that the Offer is unconditional in all respects.
The Offer will remain open for acceptances until further notice.
As at 3.00pm on 20 August 2010, Digital Barriers had received valid acceptances in respect of 34,152,824 COE Shares representing in total approximately 92.94 per cent. of COE's issued share capital. None of these acceptances were received from persons acting in concert with Digital Barriers and each of these acceptances will be counted towards the satisfaction of the acceptance condition under the Offer.
Prior to making the Offer, Digital Barriers obtained irrevocable undertakings to accept, or procure the acceptance of, the Offer from certain COE Shareholders in respect of 23,101,490 COE Shares, representing in aggregate approximately 62.87 per cent. of the issued share capital of COE. In respect of the COE Shares which are the subject of irrevocable undertakings, Digital Barriers had at 3.00 pm on 20 August 2008 received valid acceptances in respect of 22,375,550 COE Shares, representing approximately 60.90 per cent. of the issued share capital of COE.