HYR.L Regulatory News (HYR)

4 Apr 2008 09:32

Virotec International PLC04 April 2008 Virotec International plc4 April 2008 VIROTEC INTERNATIONAL PLC ("Virotec" or "the Company") Share price movement and approach from Hydrodec Group PLC The Board of Virotec have noted the sharp rise in the Company's ordinary shareprice and the high level of turnover in their shares yesterday. On 30 January 2008 the Company announced that it had received approaches thatmight or might not lead to an offer for the Company. Discussions with oneparticular party have been on-going since that date. The Board was informed by Hydrodec Group PLC ("Hydrodec") on 3 April 2008 thatHydrodec had bought 7.75 million Virotec ordinary shares at an average price of7.85 pence per share. This purchase represents approximately 2.93 per cent. ofthe issued share capital of Virotec. Hydrodec also informed the Board of Virotec of its intention to make an allshare offer for the Company. On the basis of the share price of Hydrodec at theclose of business yesterday, the indicative offer would value each Virotecordinary share at approximately 12p per share. Hydrodec further notified theBoard of Virotec that it had received support from shareholders in Virotec,representing in aggregate just below 30 per cent. of the issued share capital ofVirotec. The Board of Virotec is consulting with its advisers and will make a furtherannouncement shortly. For further information please contact: Virotec International plcBruno Bamonte, Chief Financial Officer +44 7730 663962Angus Craig, Company Secretary +61 75573 3373 Arden Partners plcChris Hardie/Matthew Armitt +44 207 398 1630 VIROTEC INTERNATIONAL plc Company Number 5796515 www.virotec.com This information is provided by RNS The company news service from the London Stock Exchange