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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 for£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
27th Dec 20172:19 pmRNSDirector/PDMR Shareholding
12th Dec 20177:00 amRNSTrading Update
27th Sep 20177:00 amRNSSecond Interim Results
26th Sep 201711:52 amRNSHolding(s) in Company
18th Sep 201711:17 amRNSHolding(s) in Company
8th Aug 20173:55 pmRNSHolding(s) in Company
6th Jul 20175:25 pmRNSHolding(s) in Company
6th Jul 201710:48 amRNSPDMR Shareholding
6th Jul 20179:05 amRNSHolding(s) in Company
5th Jul 20171:17 pmRNSHolding(s) in Company
4th Jul 201711:41 amRNSReplacement:Result of General Meeting
4th Jul 201711:11 amRNSSIP Announcement
4th Jul 201711:06 amRNSResult of General Meeting
4th Jul 201710:36 amRNSHolding(s) in Company
4th Jul 20177:00 amRNSSigning of Facility Amendment Agreement
30th Jun 20177:00 amRNSResult of Open Offer
12th Jun 201712:58 pmRNSResults of Proposed Placing
12th Jun 20177:00 amRNSFundraising & Board Changes
8th Jun 20177:00 amRNSRetirement of Non-Executive Director
1st Jun 20173:12 pmRNSHolding(s) in Company
1st Jun 20172:23 pmRNSSIP Announcement
18th May 20174:51 pmRNSHolding(s) in Company
17th May 20173:16 pmRNSHolding(s) in Company
16th May 20177:00 amRNSTrading Update
5th May 20177:00 amRNSChange of Accounting Reference Date
2nd May 20173:45 pmRNSSIP Announcement
20th Apr 20179:27 amRNSHolding(s) in Company
4th Apr 20174:07 pmRNSSIP Announcement
27th Mar 20177:00 amRNSInterim Results
27th Mar 20177:00 amRNSBoard Appointment
14th Mar 20173:49 pmRNSHolding(s) in Company
3rd Mar 201712:16 pmRNSSIP Announcement
2nd Feb 20173:26 pmRNSPDMR Announcement
24th Jan 20174:29 pmRNSHolding(s) in Company
17th Jan 20175:14 pmRNSHolding(s) in Company
10th Jan 20177:00 amRNSTrading update
4th Jan 20172:59 pmRNSSIP Announcement
2nd Dec 20163:02 pmRNSPDMR Announcement
30th Nov 201612:02 pmRNSHolding(s) in Company
24th Nov 201611:49 amRNSResult of AGM
24th Nov 20167:00 amRNSAGM Statement
7th Nov 201611:51 amRNSSIP Announcement
18th Oct 20164:26 pmRNSAnnual Report and Accounts
18th Oct 20167:00 amRNSAppointment of Chief Financial Officer
5th Oct 20161:20 pmRNSSIP Announcement
23rd Sep 20167:00 amRNSAppointment of CEO
13th Sep 20167:00 amRNSFinal Results
1st Sep 20164:41 pmRNSSIP Announcement
3rd Aug 201611:59 amRNSHolding(s) in Company
2nd Aug 20164:11 pmRNSSIP Announcement

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