Last checked at 25 Nov 2011 12:21
25 November 2011
1Spatial Holdings plc
("1Spatial" or the "Company")
Recommended offer for 1Spatial Holdings plc by Avisen plc
Scheme of Arrangement and Reduction of Capital
1Spatial announces that the High Court has today approved the Scheme of Arrangement and the associated Reduction of Capital under Part 26 of the Companies Act 2006 to effect the proposed acquisition by Avisen plc ("Avisen") of the entire issued and to be issued share capital of the Company.
As all the other conditions of the Scheme have been satisfied or waived, the Scheme will become effective when the Court Orders have been filed at Companies House. A further announcement will be released when this has been done, which is intended to be later today.
Other
In accordance with Rule 30.4 of the City Code, a copy of this announcement will be published on 1Spatial's website at www.1Spatial.com.
Terms and expressions in this announcement shall, unless the context otherwise requires, have the same meanings as given to them in the Scheme Document sent to shareholders in relation to the Scheme dated 13 October 2011.
-End-
Enquiries:
1Spatial Holdings plc: | Tel: +44 (0) 122 342 0414 |
Nic Snape - Chief Executive Officer | |
Libertas Capital Corporate Finance Limited: | Tel: +44 (0) 207 569 9650 |
(Financial Adviser and nominated adviser to 1Spatial) | |
Sandy Jamieson/ Andrew McLennan | |
Bishopsgate Communications: | Tel: +44 (0)20 7562 3350 |
Deepali Schneider | |
Natalie Quinn |
Libertas Capital Corporate Finance Limited, which is authorised and regulated in the UK by the Financial Services Authority, is acting exclusively for 1Spatial and no one else in connection with the Offer and this announcement and will not be responsible to anyone other than 1Spatial for providing the protections afforded to clients of Libertas Capital Corporate Finance Limited or for providing advice in connection with the Offer or any matter referred to herein.