K3 Business Technology Group Regulatory News (KBT)

12 Dec 2006 07:02

K3 Business Technology Group PLC12 December 2006 12 December 2006 K3 BUSINESS TECHNOLOGY GROUP PLC ("K3" or the "Company") Re: SiRViS IT plc ("SiRViS IT") K3 notes the announcements made by SiRViS IT plc on 11 December 2006 andconfirms that it has made a preliminary approach, which may or may not lead toan offer for SiRViS IT plc. This approach does not amount to a firm intention to make an offer and,accordingly, there can be no certainty that any offer will be made, or as to theterms on which one would be made, even if the pre-conditions are satisfied orwaived. It is a pre-condition, which will not be waived by K3, that any offer willrequire that either the proposed acquisition of Technology Management GroupLimited does not complete in accordance with the terms of the acquisitionagreement dated 23 November 2006 as summarised in the circular issued by SiRViSIT to its shareholders of 25 November 2006, or that such acquisition agreementis otherwise terminated in accordance with its terms. K3 confirms that, in accordance with Rule 2.10 of the City Code, it has19,290,719 ordinary shares of 25p each in issue with ISIN GB00B00P6061. A further announcement will be made in due course if and when appropriate. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if anyperson is,or becomes, "interested" (directly or indirectly) in 1% or more of anyclass of "relevant securities" of K3 or of SiRViS IT, all "dealings" in any"relevant securities" of that company (including by means of an option inrespect of, or a derivative referenced to, any such "relevant securities") mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an"interest" in "relevant securities" of K3 or SiRViS IT, they will be deemed tobe a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of K3 or of SiRViS IT by K3 or of SiRViS IT, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marksare defined in the Code, which can also be found on the Panel's website. If youare in any doubt as to whether or not you are required to disclose a "dealing"under Rule 8, you should consult the Panel." Enquiries: Andy Makeham, Chief Executive Tel: 01282 864 111K3 Business Technology Group plc Paul Shackleton Tel: 020 7776 6550Daniel Stewart & Company plc Katie Tzouliadis Tel: 020 7448 1000Biddicks This information is provided by RNS The company news service from the London Stock Exchange