TIDMDTE

RNS Number : 7208G

Seven Technologies Holdings Limited

11 June 2013

Not for release, publication or distribution, in whole or in part, directly or indirectly in, into or from the united states, australia, canada, the republic of south africa or japan or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction

11 June 2013

RECOMMENDED CASH offer by

SEVEN TECHNOLOGIES HOLDINGS LIMITED

FOR THE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF

Datong PLC

Introduction

Seven Technologies Holdings Limited ("Seven") announced on 10 May 2013 its intention to make a cash offer (the "Offer") to acquire the entire issued and to be issued share capital of Datong plc ("Datong") at the offer price of 50 pence per share. The offer document (the "Offer Document") containing the full terms and conditions of the Offer and the procedure for acceptance was posted to shareholders of Datong ("Datong Shareholders") together with the related Form of Acceptance on 14 May 2013.

Offer Unconditional in all respects

Seven is pleased to announce that each of the conditions to the Offer, as set out in the Offer Document, have been satisfied or waived and, accordingly, the Offer is now declared unconditional in all respects.

The Offer will now remain open for acceptances until further notice and will not close on 11 June 2013, as announced on 5 June 2013. It remains subject to the terms set out in the Offer Document. At least 14 days notice will be given by an announcement before the Offer is closed.

Level of Acceptances

As at 1.00 pm (London time) on 10 June 2013, Seven had received valid acceptances from Datong Shareholders in respect of 13,139,239 Datong Shares, representing approximately 94.975 per cent. of the existing issued share capital of Datong.

These acceptances include the irrevocable undertakings to accept, or procure the acceptance of, the Offer from certain Datong Shareholders in respect of 8,505,838 Datong Shares representing approximately 61.48 per cent. of the existing issued share capital of Datong that Seven announced that it had received on 10 May 2013.

Shareholders who have not yet accepted the Offer are encouraged to do so without delay.

In order to accept the Offer, Datong Shareholders who hold their Datong Shares in certificated form (that is, not in CREST) should complete, in accordance with the instructions printed on it, sign and return the Form of Acceptance (together with their share certificate(s) and any other documents of title) as soon as possible to Neville Registrars Limited, Neville House, 18 Laurel Lane, Halesowen, B63 3DA. The procedure for acceptance of the Offer in respect of certificated Datong Shares is set out in paragraph 13(a) of the letter from Seven which forms Part II of the Offer Document and Appendix 1 to the Offer Document and in the Form of Acceptance.

In order to accept the Offer, Datong Shareholders who hold their Datong Shares in uncertificated form (that is, in CREST), should make their acceptance electronically through CREST so that the TTE instruction(s) settles as soon as possible. If you are a CREST sponsored member you should refer to your CREST sponsor before taking any action. Only your CREST sponsor will be able to send the TTE Instruction(s) to Euroclear in relation to your Datong Shares in uncertificated form. The procedure for acceptance of the Offer in respect of uncertificated Datong Shares is set out in paragraph 13(b) of the letter from Seven which forms Part II of Offer Document and Appendix I to the Offer Document.

Settlement of consideration

Settlement of the relevant consideration due under the Offer will be despatched on or before 25 June 2013 in respect of Datong Shares for which acceptances of the Offer, valid in all respects, have already been received. The consideration due to Datong Shareholders who provide valid acceptances, complete in all respects, after today's date and while the Offer remains open for acceptance, will be despatched within 14 days of receipt of such acceptance.

Delisting and Cancellation of trading in Datong Shares

Seven confirms that, having received valid acceptances under the Offer of more than 75 per cent. of the existing issued share capital of Datong, it has requested that the directors of Datong apply for the cancellation of admission to trading on AIM of the Datong Shares. It is expected that cancellation will take effect no earlier than 20 business days following the date of this announcement.

Compulsory Acquisition Notices

As set out above as at 1.00 p.m. on 10 June 2013, Seven had received valid acceptances in respect of, in aggregate 13,139,239 Datong Shares, representing approximately 94.975 per cent. of the existing issued share capital of Datong. Accordingly, compulsorily acquisition notices will be despatched in due course to Datong Shareholders who do not accept the Offer before it closes.

Copies of the Offer Document and the Form of Acceptance will be available for inspection at the offices of Osborne Clarke at One London Wall, London, EC2Y 5EB, during normal business hours on any weekdays (Saturdays, Sundays and public holidays excepted).

If a holder of Datong Shares is in any doubt about the Offer and/or any action he should take, he is recommended to seek his own personal financial advice immediately from an independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) who specialises in advising upon investment in shares and other securities if he is resident in the United Kingdom or, if not in the United Kingdom, from another appropriately authorised financial adviser.

Publication on websites

A copy of this announcement and the Offer Document will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, for inspection on Seven's website at http://www.Seventechnologies.co.uk and the Datong website (http://www.datong.co.uk/investor_relations.htm) and will remain so during the course of the Offer. For the avoidance of doubt, the content of the websites referred to is not incorporated into and does not form part of this announcement.

Capitalised terms used but not defined in this announcement have the same meaning as given to them in the Offer Document.

Enquiries

 
 
   Seven Technologies Holdings Limited               Tel: 028 9263 
                                                     5620 
 Richard Moon 
 Gavin Williamson 
 
 BDO LLP, Financial Adviser to Seven               Tel: 020 7486 
                                                    5888 
 John Stephan 
 David Abbott 
 
 Datong plc                                        Tel: 0113 239 
                                                    5350 
 Paul Lever 
 Mark Cook 
 
 Cavendish Corporate Finance LLP, Rule 3 Adviser   Tel: 020 7908 
                                                    6000 
 Joe Stelzer 
 John Farrugia 
 
 Canaccord Genuity Limited, Nominated Adviser      Tel: 020 7523 
  and Broker                                        8350 
 Simon Bridges 
 Mark Whitmore 
 
 
 

BDO, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Seven, as financial adviser in relation to the Offer, and is not acting for or advising any other person and accordingly will not be responsible to any other person other than Seven for providing the protections afforded to the clients of BDO or for providing advice in relation to the contents of this announcement or any offer or arrangement referred to herein or in the Offer Document and Form of Acceptance. Neither BDO nor any of its affiliates owns or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of BDO in connection with this announcement, any statement contained herein or otherwise.

Cavendish, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for Datong and no one else in connection with the Offer and will not be responsible to anyone other than Datong for providing the protections afforded to customers of Cavendish or for providing advice in relation to the Offer or any other matter referred to herein.

Overseas jurisdictions

The availability of the Offer in, and the release, publication or distribution of this announcement in or into, jurisdictions other than the United Kingdom may be restricted by law. Therefore persons into whose possession the Offer Document or this announcement comes who are not resident in the United Kingdom should inform themselves about, and observe, any applicable restrictions. Datong Shareholders who are in any doubt regarding such matters should consult an appropriate independent adviser in the relevant jurisdiction without delay. Any failure to comply with such restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement has been prepared for the purposes of complying with English law and the Code and the information disclosed may not be the same as that which would have been disclosed if the announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

In particular, unless otherwise determined by Seven and permitted by applicable law and regulation, the Offer will not be made, directly or indirectly, in or into, or by the use of mails or any means of instrumentality (including, without limitation, telephonically or electronically) of interstate or foreign commerce of, or any facilities of a national securities exchange of any Restricted Jurisdiction (including the United States, Australia, Canada, the Republic of South Africa and Japan). Accordingly, except as required by applicable law, copies of the Offer Document and this announcement are not being, and may not be, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction. Persons receiving the Offer Document or this announcement (including without limitation nominees, trustees or custodians) must not forward, distribute or send it into any Restricted Jurisdiction.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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