Restore Regulatory News (RST)

6 Oct 2006 16:56

Eurotech S.p.A06 October 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE ORIN PART IN, INTO OR FROM AUSTRALIA, CANADA OR JAPAN PRESS ANNOUNCEMENT FOR IMMEDIATE RELEASE 6 October 2006 CASH OFFER FOR RADSTONE TECHNOLOGY PLC ("RADSTONE") BYE-TECH UK LIMITED ("E-TECH") (A WHOLLY OWNED SUBSIDIARY OF EUROTECH S.p.A.("EUROTECH")) (THE "CASH OFFER") LEVEL OF ACCEPTANCES AND LAPSING OF OFFER On 30 August 2006, the Board of Eurotech announced the terms of a Cash Offer forthe entire issued and to be issued ordinary share capital of Radstone. On 2 October 2006, the Board of Eurotech announced that, in light of the higherrecommended offer for Radstone announced by GE Fanuc Embedded Systems, Inc on18 September 2006, the Cash Offer would not be increased or the terms of itotherwise amended and that the Board of Eurotech would not extend the Cash Offerbeyond 6 October 2006. On 30 August 2006 (the date on which E-tech announced the Cash Offer), E-techpurchased 4,820,000 Radstone Shares, representing approximately 15.9 per cent.of Radstone's entire issued share capital. In addition, as at 3.00 p.m. (Londontime) today, E-tech had received valid acceptances for the Cash Offer in respectof 1,576,993 Radstone Shares, representing approximately 5.2 per cent. ofRadstone's entire issued share capital. Therefore, in aggregate, as at 3.00 p.m.(London time) today, E-tech owned or had received valid acceptances for the CashOffer in respect of 6,396,993 Radstone Shares, representing approximately 21.1per cent. of Radstone's entire issued share capital. Accordingly, the Board of Eurotech announces that the Cash Offer has now lapsed.Radstone Shareholders who have accepted the Cash Offer are no longer bound bysuch acceptances. Save as set out above, no Radstone Shares have been acquired or agreed to beacquired by or on behalf of E-tech or any person acting in concert with E-techduring the Offer Period and neither E-tech nor any person acting in concert withE-tech has an interest in any Radstone Shares (including any short positions(whether conditional or absolute and whether in the money or otherwise),including any short position under a derivative, any agreement to sell or anydelivery obligation or right to require another person to purchase or takedelivery) nor any right to subscribe for any Radstone Shares. Terms used in this announcement shall have the meaning given to them in theoffer announcement dated 30 August 2006 and the offer document dated 1 September 2006. Enquiries:Eurotech/E-tech Tel: +44 (0)20 7861 3232Roberto SiagriMassimo Mauri Hawkpoint Tel: +44 (0)20 7665 4500(financial adviser to Eurotech and E-tech)Paul BainesGraham PatonEdward Arkus Panmure Gordon Tel: +44 (0)20 7459 3600(broker to Eurotech and E-tech)Dominic Morley Bell Pottinger Tel: +44 (0)20 7861 3232(PR adviser to Eurotech and E-tech)Stephen BenzikieOlly Scott Hawkpoint, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for Eurotech and E-tech andno one else in connection with the Cash Offer and will not be responsible toanyone other than Eurotech or E-tech for providing the protections afforded toits customers or for providing advice in relation to the Cash Offer or inrelation to the contents of this announcement or any transaction or arrangementreferred to herein. Panmure Gordon, which is authorised and regulated in the United Kingdom by theFinancial Services Authority, is acting exclusively for Eurotech and E-tech andno one else in connection with the Cash Offer and will not be responsible toanyone other than Eurotech or E-tech for providing the protections afforded toits customers or for providing advice in relation to the Cash Offer or inrelation to the contents of this announcement or any transaction or arrangementreferred to herein. This announcement is not intended to and does not constitute, or form any partof, a Cash Offer or an invitation to purchase any securities or the solicitationof any vote or approval in any jurisdiction pursuant to the Cash Offer orotherwise. The Cash Offer has been made solely through the Offer Document andthe Form of Acceptance, which together contain the full terms and conditions ofthe Cash Offer, including details of how to accept the Cash Offer. Anyacceptance or other response to the Cash Offer should be made only on the basisof the information contained in the Offer Document and the Form of Acceptance.The laws of relevant jurisdictions may affect the availability of the Cash Offerto persons not resident in the United Kingdom. Persons who are not resident inthe United Kingdom, or who are subject to the laws of any jurisdiction otherthan the United Kingdom, should inform themselves about and observe anyapplicable legal and regulatory requirements. The Offer Document has been postedon Eurotech's website. This information is provided by RNS The company news service from the London Stock Exchange