SMRT.L Regulatory News (SMRT)

26 Jun 2007 09:41

Advanced Smartcard Technologies plc26 June 2007 Advanced Smartcard Technologies plc ("AST" or the "Company") Rule 2.10 Announcement Relevant Securities in Issue In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, ASTconfirms that it currently has 239,800,052 ordinary 0.03 pence shares in issue(ISIN: GB00B0SR9F04). Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code, if any person is, orbecomes, 'interested' (directly or indirectly) in 1 per cent. or more of anyclass of 'relevant securities' of AST, all 'dealings' in any 'relevantsecurities' of that company (including by means of an option in respect of, or aderivative referenced to, any such 'relevant securities') must be publiclydisclosed by no later than 3.30pm (London time) on the London business dayfollowing the date of the relevant transaction. This requirement will continueuntil the date on which any offer becomes, or is declared, unconditional as toacceptances, lapses or is otherwise withdrawn or on which the 'offer period'otherwise ends. If two or more persons act together pursuant to an agreement orunderstanding, whether formal or informal, to acquire an 'interest' in 'relevantsecurities' of AST, they will be deemed to be a single person for the purpose ofRule 8.3. Under the provisions of Rule 8.1 of the Takeover Code, all 'dealings' in 'relevant securities' of AST by AST or any of its 'associates' must be disclosedby no later than 12.00 noon (London time) on the London business day followingthe date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevantsecurities' 'dealings' should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an 'interest' byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Takeover Code, which can also befound on the Panel's website. If you are in any doubt as to whether or not youare required to disclose a 'dealing' under Rule 8, you should consult theTakeover Panel. Contact details: Advanced Smartcard Technologies plc 01355 813430Tom Doyle, Non Executive ChairmanStephen Naylor, Finance Director Altium Capital Limited 0161 831 9133Phil Adams/Adrian Reed This information is provided by RNS The company news service from the London Stock Exchange