Pebble Beach Regulatory News (PEB)

9 Feb 2005 12:40

Vislink PLC09 February 2005 9 February 2005 Vislink Plc ("Vislink" or the "Company") Result of Extraordinary General Meeting On 14 January 2005, Vislink announced the proposed acquisition of Link ResearchLimited ("Link") and a proposed Placing and Open Offer of 20,414,569 NewOrdinary Shares at 22.75 pence per share on the basis of 1 Open Offer Share forevery 5 Existing Ordinary Shares, both of which were subject to, inter-alia,Shareholder approval. The Company is pleased to announce that all the resolutions proposed toShareholders were passed at the Extraordinary General Meeting which took placeearlier today. Statement to shareholders In his statement to shareholders at the Extraordinary General Meeting, IanScott-Gall, Chief Executive said: "The Acquisition of Link creates immediatebenefits to Vislink from the integration of Link's wireless camera systemswithin Vislink's product range and higher margins resulting from the OEMproducts supplied by Link to the Group. Vislink will also benefit from thelonger term growth opportunities from the development and introduction of highdefinition wireless camera systems, by Link. In addition Mr. Ian Scott-Gall said that "the implementation of the plannedregulatory changes in the USA to the part of the spectrum used by outsidebroadcasters has taken another step forward, as on 7 February 2005 Nextelannounced its expected formal acceptance of the Federal CommunicationsCommission's Rule and Order. This will require the Broadcasters to becompensated by the supply of new equipment. The Group's US business MRC expectsto see incremental demand for its products which also incorporate Link OEMproducts, in 2005 through to 2007." The Acquisition and the Placing and Open Offer remains conditional uponadmission of the New Ordinary Shares to listing on the Official List of the UKListing Authority and to trading on the London Stock Exchange's and the IrishStock Exchange's respective market for listed securities. Admission is expectedto become effective at 8.00 am on 11February 2005. Terms defined in the prospectus dated 14 January 2005 have the same meaning inthis announcement, save where the context otherwise requires. EnquiriesVislink plc Tel: 01488 685500Ian Scott-Gall, Chief ExecutiveJames Trumper, Finance Director Investec Investment Banking Tel: 020 7597 5970Patrick Robb, Director of Corporate BrokingMichael Ansell Investec Investment Banking, a division of Investec Bank (UK) Limited, which isauthorised and regulated by the Financial Services Authority and is a member ofthe London Stock Exchange, is acting exclusively for Vislink in connection withthe Proposals and is not acting for any person other than Vislink and will notbe responsible to any person other than Vislink for providing the protectionsafforded to its customers or for providing advice on the transactions andarrangements proposed in this announcement. Davy, which is regulated in Ireland by the Irish Financial Services RegulatoryAuthority is acting exclusively for Vislink in connection with the Proposals andis not acting for any person other than Vislink and will not be responsible toany person other than Vislink for providing the protections afforded to itscustomers or for providing advice on the transactions and arrangements proposedin this announcement. END This information is provided by RNS The company news service from the London Stock Exchange