Last checked at 22 Jul 2019 07:00
22 July 2019
CASH OFFER
by
SCIENCE GROUP PLC
(Science Group or the Company)
for
FRONTIER SMART TECHNOLOGIES GROUP LIMITED
(Frontier)
Offer wholly unconditional
Offer closed
1. Introduction
It was announced on 1 July 2019 that Science Group would make an offer (the Offer) to acquire the entire issued and to be issued share capital of Frontier at a price of 35 pence per Frontier Share. On 2 July 2019, Science Group published an offer document setting out the full terms and conditions of the Offer (the Offer Document).
2. Level of acceptances
Science Group announces that on 19 July 2019 the Company purchased 416,069 shares in the capital of Frontier at a price of 35 pence per share. Following these purchases, the Company holds a total of 16,662,043 shares in the capital of Frontier, equivalent to 40.8 per cent. of the voting share capital of Frontier.
As at the closure of the Offer at 1.00 p.m. (London time) on 19 July 2019, the Company had received valid acceptances of its Offer in respect of 2,785,388 Frontier shares, representing approximately 6.8 per cent. of the voting share capital of Frontier.
The Company is therefore interested in, in aggregate, 19,447,431 Frontier shares representing approximately 47.6 per cent. of the voting share capital of Frontier.
3. Offer wholly unconditional
Science Group is pleased to declare the Offer wholly unconditional.
4. Offer closed
The Offer and the Panmure Gordon Trading Facility are now closed.
Unless otherwise stated, terms used in this announcement have the same meanings as given to them in the Offer Document.
- Ends -
For further information:
Science Group plc | |
Martyn Ratcliffe, Chairman Rebecca Archer, Finance Director Sarah Cole, Company Secretary | Tel: +44 (0) 1223 875 200 |
Panmure Gordon (UK) Limited Dominic Morley / Alina Vaskina (Corporate Finance) Erik Anderson (Corporate Broking)
|
Tel: +44 (0) 20 7886 2500
|
MHP Reg Hoare | Tel: +44 (0) 20 3128 8793 |
IMPORTANT NOTICES
Panmure Gordon (UK) Limited is acting exclusively for Science Group and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than Science Group for providing the protections afforded to the customers of Panmure Gordon (UK) Limited or for providing advice in relation to the matters described in this announcement.