14 May 2008 10:30
Virotec International plc
14 May 2008
Virotec International plc ("Virotec" or the "Company")
Posting of Scheme Document and Annual Report and Accounts
On 7 May 2008 the Virotec Independent Directors and Hydrodec Independent Directors confirmed that they had conditionally agreed the terms of a recommended acquisition of Virotec whereby Hydrodec Group plc ("Hydrodec") will acquire, for shares and cash, the entire issued and to be issued ordinary share capital of Virotec, to be effected by means of a scheme of arrangement under sections 895 to 901 of the Companies Act 2006 (the "Scheme").
Virotec announces that a circular (the "Scheme Document"), which sets out the full terms and conditions of the Scheme and an explanatory statement, together with the action to be taken by Virotec shareholders, has been posted to Virotec`s shareholders.
Subject to the satisfaction or waiver of the relevant conditions it is currently expected that the Scheme will become effective on 25 June 2008.
Capitalised terms used, but not defined, in this announcement have the same meanings as given to them in the Scheme Document.
Additionally, Virotec announces that its annual report and accounts for the year ended 31 December 2007 has been posted to shareholders and will shortly be made available for viewing on the Company's website (www.virotec.com) or from:
Enquiries
Virotec International plc +61 755 733 353
Angus Craig
Arden Partners plc +44 (0) 20 7398 1600
Christopher Hardie
Matthew Armitt
HYR.L (HYR)