ACTA.L Regulatory News (ACTA)

21 Feb 2008 10:15

Acta S.p.A.21 February 2008 21 February 2008 Acta S.p.A ('Acta' or the 'Company') Suspension of Merger with 90% Subsidiary Acta announces that on 19 February 2008 it received notification from the Judgeof the Pisa Company Register that the legal effect of the merger with its 90%subsidiary, Idea Lab S.r.l., announced to the market on 17 December 2007, hasbeen suspended as a precautionary measure following an interim ruling inarbitration proceedings with Mrs Del Bono, the former Idea Lab minorityshareholder. The 180,000 ordinary shares issued in relation to the merger, asannounced on 1 February 2008, are to be cancelled pending the outcome of thearbitration proceedings. Following the cancellation of these shares, the total number of ordinary sharesof •uro 0.006 of Acta SpA in issue will be 38,995,126, each of which carries aright to vote. The merger with Idea Lab was solely intended to achieve a modest improvement inthe cost effectiveness of the group's administration activities. The Directorsof Acta have therefore satisfied themselves that, since Idea Lab remains as a90% subsidiary of Acta, the suspension of the merger will result in no materialadverse impact upon the financial results or prospects of the group. The Companywill make a further announcement if there are any future developments that theDirectors consider are material. For further information please contact: Acta S.p.A Tel. +44 (0) 20 7360 4900Toby Woolrych Smithfield Group Tel. +44 (0) 20 7360 4900George Hudson, Katie Hunt, Will Henderson Numis as Nominated Advisor and Broker Tel. +44 (0) 20 7260 1000Jag Mundi, David Poutney, Alex Ham This information is provided by RNS The company news service from the London Stock Exchange