Servelec Group Regulatory News (SERV)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

For immediate release

15 January 2018

RECOMMENDED CASH OFFER

for

Servelec Group PLC ("Servelec")

by

Scarlet Bidco Limited ("Scarlet Bidco")

to be implemented pursuant to a scheme of arrangement

Suspension of listing of and dealings in Servelec Shares

On 23 November 2017, the boards of directors of Servelec and Scarlet Bidco announced that they had reached agreement on the terms of a recommended cash offer for the entire issued and to be issued share capital of Servelec by Scarlet Bidco, to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). The scheme document in connection with the Scheme was sent by Servelec to Scheme Shareholders on 01 December 2017 (the "Scheme Document").

Servelec is pleased to announce that the Scheme has today become effective.

Pursuant to the terms of the Scheme and Listing Rule 5.3, Servelec announces that the listing of Servelec Shares on the Official List and the trading of Servelec Shares on the Main Market of the London Stock Exchange have each been suspended effective from 7.30 a.m. (London time) today, 15 January 2018.

The de-listing of Servelec Shares from the Official List and the cancellation of the admission to trading of Servelec Shares on the Main Market of the London Stock Exchange are each expected to take effect by 8.00 a.m. on 16 January 2018.

Other

Capitalised terms used in this announcement (the "Announcement") shall, unless otherwise defined, have the same meanings as set out in the Scheme Document.

Enquiries:

Important Notices

Investec Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK. Investec Bank plc is acting exclusively as financial adviser to Servelec and no one else in connection with the Offer and will not be responsible to anyone other than Servelec for providing the protections afforded to clients of Investec Bank plc nor for providing advice in connection with the Offer or any matter referred to herein.

This Announcement is for information purposes only and does not constitute an offer to sell or an invitation to purchase or subscribe for any securities or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction, pursuant to the Offer or otherwise.

This Announcement has been prepared for the purpose of complying with English law and the Takeover Code and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws of jurisdictions outside of England.

This Announcement does not constitute a prospectus or prospectus equivalent document.

Overseas Shareholders

The release, publication or distribution of this Announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or who are subject to other jurisdictions should inform themselves of, and observe, any applicable requirements.

The Offer shall be subject to the applicable requirements of the Takeover Code, the Panel, the London Stock Exchange, the Financial Conduct Authority and the UKLA.Publication on website and availability of hard copies

A copy of this Announcement will be made available subject to certain restrictions relating to persons resident in Restricted Jurisdictions on Servelec's website at www.servelec-group.com/investor-relations. For the avoidance of doubt, the contents of those websites are not incorporated into and do not form part of this Announcement.

Servelec Shareholders may request a hard copy of this Announcement by contacting Link Asset Services at 34 Beckenham Road, Beckenham, Kent, BR3 4TU or on 0371 664 0300 or if calling from outside the UK on +44 (0) 371 664 0300. Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. Link Asset Services is open between 9.00 a.m. to 5.30 p.m., Monday to Friday excluding public holidays in England and Wales. You may also request that all future documents, announcements and information to be sent to you in relation to the Offer should be in hard copy form.