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Pin to quick picksK3 Business Technology Group Regulatory News (KBT)

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Approach to Acquire SiRViS IT

13 Dec 2006 15:49

SiRViS IT PLC13 December 2006 SiRViS IT plc Approach to acquire SiRViS IT plc Date: 13 December 2006 SiRViS IT plc ("SiRViS IT" or the "Company") announced on 11 December 2006 thatit is in receipt of an approach from K3 Business Technology Group PLC ("K3") toacquire the Company subject to certain pre-conditions and assumptions. Following the announcement of this approach, the Company's trading subsidiary,Linetex Computers has received notice from a major customer, which accounted forĀ£0.87 million (10.9%) of total turnover for the year to 31 May 2006, that shouldthe offer by K3 proceed and become unconditional in all respects it wouldterminate the Service Contract with Linetex Computers in accordance with the "change of control" provisions in their agreement. The approach from K3 is subject to pre-conditions and principal assumptions thatinclude: 1. there being no material adverse change in the business, financial or trading position of SiRViS IT; 2. SiRViS IT being on track to meet market expectations for the year ending 31 May 2007; and 3. there are no issues arising or material impact on SiRViS IT's financial performance, from change of control clauses in any existing contracts. In light of the notification mentioned above, there can be no certainty thatthese pre-conditions and principal assumptions will be met. Accordingly this new information is drawn to the attention of the Company'sshareholders as it may have a bearing on both the likelihood of K3 announcing afirm intention to make an offer at all or on the terms including price outlinedin the approach and how shareholders choose to vote at the Company's forthcomingEGM. The announcement was made with the approval of the Board of the Company, but wasnot made with the agreement or approval of K3. There can also be no certaintythat an offer will be made nor as to the terms on which any offer might be made. Further announcements will be made in due course. Enquiries: Peter Addison 07831 107850 SiRViS IT plc Chairman John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Updates on the Company's activities are regularly posted on its websitewww.sirvisit.co.uk This information is provided by RNS The company news service from the London Stock Exchange
Date   Source Headline
8th Dec 20111:06 pmBUSForm 8.3 - K3 Business Technology Group Plc
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7th Dec 201112:37 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
6th Dec 201110:04 amRNSHolding(s) in Company
5th Dec 20113:07 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
5th Dec 20112:09 pmRNSSIP Announcement
5th Dec 201111:05 amRNSForm 8.3 - K3 Business Technology Group Plc
2nd Dec 20112:42 pmRNSForm 8.3 - K3 Buisness Technology Group PLC
2nd Dec 201112:03 pmRNSForm 8.3 - K3 Business Technology Group Plc
2nd Dec 201110:57 amBUSForm 8.3 - K3 Business Technology Group Plc
2nd Dec 201110:36 amRNSForm 8.3 - K3 Business Technology Group Plc
1st Dec 20113:42 pmRNSForm 8.3 - K3 Business Technology Group PLC
1st Dec 20113:39 pmRNSForm 8.3 - K3 Business Technology Group plc
1st Dec 20117:00 amRNSPossible Offer & Strategic Review
1st Dec 20117:00 amRNSAppointment of NOMAD & Broker
24th Nov 20115:11 pmRNSExercise of Options
23rd Nov 20116:08 pmRNSHolding(s) in Company
23rd Nov 20113:32 pmRNSAGM Statement
1st Nov 20113:25 pmRNSSIP Announcement
4th Oct 20115:00 pmRNSSIP Announcement
19th Sep 20117:00 amRNSFinal Results
12th Sep 20117:00 amRNSNotice of Results
2nd Sep 20117:00 amRNSSIP Announcement
4th Aug 20116:03 pmRNSHolding(s) in Company
1st Aug 20115:00 pmRNSSIP Announcement
25th Jul 20117:00 amRNSAcquisition
22nd Jul 20117:00 amRNSHolding(s) in Company
22nd Jul 20117:00 amRNSHolding(s) in Company
22nd Jul 20117:00 amRNSHolding(s) in Company
20th Jul 20115:11 pmRNSHolding(s) in Company
14th Jul 201112:20 pmRNSPlacing
5th Jul 20115:45 pmRNSSIP Announcement
5th Jul 20117:00 amRNSTrading Statement
4th Jul 20117:00 amRNSAcquisition
2nd Jun 20119:48 amRNSSIP Announcement
11th May 20113:21 pmRNSHolding(s) in Company
6th May 20112:30 pmRNSSIP Announcement
1st Apr 20113:37 pmRNSSIP Announcement
28th Mar 20117:00 amRNSExercise of Options
25th Mar 20115:00 pmRNSAcquisition
7th Mar 20117:00 amRNSHalf Year Results
7th Mar 20117:00 amRNSAcquisition
3rd Mar 20113:04 pmRNSSIP Announcement
16th Feb 20112:00 pmRNSWarrant Subscription Period
14th Feb 20117:00 amRNSExclusive Hosting Agreement
2nd Feb 20114:16 pmRNSSIP Announcement
25th Jan 20117:00 amRNSTrading Statement
5th Jan 20115:27 pmRNSSIP Announcement
30th Dec 20102:46 pmRNSExercise of Options
30th Dec 20102:44 pmRNSExercise of Options

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