Result of Tender Offer

23 Jun 2005 07:01

London Security PLC22 June 2005 London Security PLC23 June 2005 Result of Tender Offer The Board of London Security announces that valid tenders pursuant to the TenderOffer made by Brewin Dolphin, which closed at 5.00 p.m. on 21 June 2005, werereceived for 2,155,203 Ordinary Shares from 229 shareholders. The Company also announces that the Capital Reduction, which was approved byShareholders at the EGM on 31 May 2005, yesterday received confirmation by theHigh Court. In order to allow London Security to complete the acquisition ofshares from Brewin Dolphin interim accounts of London Security plc for theperiod from 1 January 2005 to 24 June 2005 have been prepared and will bedelivered to the registrar of companies on 30 June 2005. The repurchase of the tendered Ordinary Shares will be effected by BrewinDolphin on 1 July 2005. London Security will subsequently acquire forcancellation from Brewin Dolphin, at the Tender Price of 1375 pence, all theOrdinary Shares purchased by Brewin Dolphin under the Tender Offer. The consideration for the Tender Offer is expected to be despatched on or around4 July 2005 to those Shareholders who have successfully tendered Ordinary Sharesunder the Tender Offer, whether in certificated or uncertificated form. As a result of the Ordinary Shares being repurchased for cancellation and theCapital Reduction being confirmed by the High Court the issued share capital ofthe Company is now 12,323,198 Ordinary Shares of 1p each. Definitions used in this announcement have the same meanings given in thecircular sent to Shareholders dated 5 May 2005 setting out the formal terms andconditions of the Tender Offer. ENQUIRIES London SecurityRichard Pollard, Company Secretary 01422 314 202 Brewin Dolphin SecuritiesAndrew Kitchingman, Director - Corporate Finance 0113 2410130 This information is provided by RNS The company news service from the London Stock Exchange