K3 Business Technology Group Regulatory News (KBT)

9 Feb 2007 09:56

Takeover Panel09 February 2007 2007/5 SIRVIS IT Plc ("SiRViS IT") K3 Business technology group plc ("k3") Following recent representations made by the advisers to SiRViS IT, the PanelExecutive has been considering the application of Rule 2.4(b) of the Code to theapproach by K3 to SiRViS IT. Following discussions with both parties' advisers,the Panel Executive has ruled that K3 must, by 5.00 pm on 12 March 2007, eitherannounce a firm intention to make an offer for SiRViS IT under Rule 2.5 of theCode or announce that it does not intend to make an offer for SiRViS IT. Noextension to this deadline will be granted, except with the consent of the PanelExecutive. In the event that K3 announces that it does not intend to make anoffer for SiRViS IT, K3 and any person acting in concert with it will, exceptwith the consent of the Panel Executive, be bound by the restrictions containedin Rule 2.8 of the Code for six months from the date of such announcement. Each of the parties has accepted this ruling. 09 February 2007 This information is provided by RNS The company news service from the London Stock Exchange