Last checked at 7 Apr 2011 16:03
Vislink plc (the "Company")
Extension of Tender Offer
The Company sent a circular to Shareholders on 23 March 2011 detailing a proposed return of capital by way of Tender Offer (the "Circular"). In the Circular the Company set out an expected timetable of key events for the Tender Offer which stated that the latest time and date for receipt of Tender Forms and TTE instructions in relation to the Tender Offer would be 3.00 p.m. today (the "Closing Date").
The Company has been informed that, for a period of time this afternoon the CREST computer system has been offline and unavailable for settlement of TTE instructions. Consequently, the Company has decided to extend the Closing Date for Qualifying Shareholders by 24 hours until 3.00 p.m. on 8 April 2011. Accordingly, the Record Date for the Tender Offer will also be extended by 24 hours until 5.00 p.m. on 8 April 2011 and the result of the Tender Offer will be announced by 8.00 a.m. on 11 April 2011 at the latest. The revised expected timetable of key events is set out below.
The General Meeting time and date is unchanged and will be held at 10.00 a.m. tomorrow at the offices of the Company at Marlborough House, Charnham Lane, Hungerford, Berkshire, RG17 0EY.
Tender Offer opened | 23 March 2011 |
General Meeting | 10.00 a.m. 8 April 2011 |
Last time and date for receipt of the Tender Forms in relation to the Tender Offer | 3.00 p.m. 8 April 2011 |
Last time and date for receipt of TTE instructions in relation to the Tender Offer | 3.00 p.m. 8 April 2011 |
Record Date for the Tender Offer | 5.00 p.m. 8 April 2011 |
Announcement of results of the Tender Offer | By 8.00 a.m. on 11 April 2011 |
Posting of cheques in respect of certificated Shares purchased pursuant to the Tender Offer and crediting of CREST accounts for uncertificated Shares purchased pursuant to the Tender Offer | By 15 April 2011 |
CREST accounts credited with uncertificated Shares unsuccessfully tendered and dispatch of balance share certificates for unsold certificated Shares and return of share certificates for unsuccessful tenders of certificated Shares | By 15 April 2011 |
Terms used in this announcement shall have the meaning ascribed to them in the Circular unless otherwise stated.
For further information, please contact:
James Trumper, Group Finance Director +44 (0) 14 88 68 55 00
Charlie Jack, Hudson Sandler +44 (0) 20 77 96 41 33
About Vislink plc
Vislink plc is a global technology business specialising in secure communications and services for the news & entertainment and law enforcement & public safety markets. The Company has two international business units serving these markets with manufacturing operations in the UK and the USA.
The Company's strategic focus is the design, manufacture, sale, installation and maintenance of wireless, video and IP technologies together with the supporting management systems. Vislink products include microwave radio, satellite transmission and wireless camera systems.
Headquartered in the UK with operations in the USA, Dubai, and Singapore the Company employs over 200 people worldwide. The Company is fully listed on the London Stock Exchange (LSE:VLK).
For further information, please visit www.vislink.com.
Forward looking statements
Certain statements in this report are forward-looking. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. The Group undertakes no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.