21 Aug 2013 16:22
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
Huntsworth PLC21 August 2013
UPDATE ON PROPOSED INVESTMENT BY BLUEFOCUS
· On 25 April 2013, Huntsworth plc ("Huntsworth" or the "Company") announced its strategic alliance with BlueFocus Communication Group Co. Ltd ("BlueFocus"), the Chinese communications Group listed on the Shenzhen Stock Exchange, and the proposed £36.5m investment by BlueFocus in Huntsworth (the "Subscription").
· As previously announced on 29 July 2013, BlueFocus has received approval for the Subscription from the National Development and Reform Commission of the People's Republic of China, thereby satisfying the BlueFocus International Regulatory Condition under the Subscription Agreement. This condition is the main substantive approval needed for the transaction.
· However, further to the Company's announcement on 29 July 2013, BlueFocus has experienced further delays in obtaining approval from the State Administration of Foreign Exchange of the People's Republic of China ("SAFE") for the entry into and performance by BlueFocus of its parent company guarantee under the Subscription Agreement. As a result, the Company is not yet in a position to send a circular to its shareholders but still expects to be able to convene a general meeting to approve the Subscription in September and to complete the Subscription shortly thereafter.
Unless defined herein, the definitions used in this announcement shall have the same meaning given to them in the announcement headed "BlueFocus to invest £36.5m in Huntsworth" published by the Company dated 25 April 2013.
Huntsworth | +44 (0)20 7224 8778 |
Peter Chadlington, Chief Executive |
|
Sally Withey, Group Chief Operating Officer and Finance Director |
|
Quayle Munro | +44 (0)20 7907 4200 |
Andrew Tuckey Colin La Fontaine Jackson |
|
Numis Securities (Sponsor and Broker) | +44 (0)20 7260 1000 |
Lorna Tilbian |
|
Rupert Krefting |
|
Nick Westlake |
|
Citigate Dewe Rogerson | +44 (0)20 7638 9571 |
Simon Rigby |
|
Lazard | +44 (0)20 7187 2000 |
Nicholas Shott |
|
This announcement does not constitute a prospectus and does not form part of any offer of securities, or constitute a solicitation of any offer to purchase or subscribe for securities in any jurisdiction, and nor shall it, or any part of it, or the fact of its distribution form the basis of, or be relied on, in connection with, or act as an inducement to enter into, any contract therefor.
This announcement is not an offer of securities for sale in the United States or any other jurisdiction. The securities of the Company have not been, and will not be, registered under the US Securities Act of 1933 or under the applicable securities laws of any state or other jurisdiction of the United States. No securities of the Company will be offered or sold in the United States absent registration or an exemption from registration and in compliance with state securities laws. No public offer of securities of the Company is being made in the United States.
Numis Securities Limited is acting for Huntsworth and no-one else in connection with the Subscription and will not regard any other person as its client in relation to the Subscription and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Subscription or any transaction or arrangement referred to, or information contained, in this announcement.
Quayle Munro Limited is acting for Huntsworth and no-one else in connection with the Subscription and will not regard any other person as its client in relation to the Subscription and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Subscription or any transaction or arrangement referred to, or information contained, in this announcement.