Director Dealings (8668U)

TIDMWSI TIDMTTM

RNS Number : 8668U

Workplace Systems International PLC

03 January 2012

Recommended Cash Offer

Wasp Management Software Limited ("NewCo")

(a company formed on behalf of Lloyds TSB Development Capital Limited and the members of the Management Team)

to acquire the entire issued and to be issued ordinary share capital of

WorkPlace Systems International plc ("WorkPlace")

(other than those shares contracted to be acquired by NewCo under the terms of the Share Exchange Deed)

OFFER UPDATE - DIRECTOR DEALINGS

WorkPlace has issued a further 362,558 WorkPlace Shares as a result of WorkPlace Options being exercised under the WorkPlace Savings-Related Share Option Scheme after 1.00pm (London time) on 30 December 2011, all of which will be accepted in relation to the Offer. Accordingly, NewCo has received valid acceptances in respect of 146,890,922 Offer Shares representing 92.5 per cent. of the Offer Shares.

In accordance with Rule 2.10 of the Code, WorkPlace confirms that there are 163,488,467 WorkPlace Shares of 5 pence each in issue and admitted to trading on AIM under ISIN Code GB0009250845.

As a result of the exercise of such WorkPlace Options, the following further dealing in the relevant securities of WorkPlace by a WorkPlace Director has occurred:

 
 WorkPlace Director   WorkPlace Share             Number of Wasp       Date 
                       Option Scheme               Options exercised 
-------------------  --------------------------  -------------------  ----------------- 
 Ian Mills            WorkPlace Savings-Related   17,560               30 December 2011 
                       Share Option Scheme                              (post-1.00pm) 
-------------------  --------------------------  -------------------  -----------------

Enquiries

For further information, please contact:

 
                                             020 77 583 
 NewCo                                              680 
 Daniel Sasaki 
 Kunal Dasgupta 
 Barney Quinn 
 Paul Wright 
 
                                             020 72 278 
 Torch Partners Corporate Finance Limited           830 
 (financial adviser to LDC & NewCo) 
 Rupert Robson 
 Seth Schelin 
 Thomas Roberts 
 Amaya Gonzalez Lantero 
 
                                             020 75 985 
 Fairfax I.S. Plc                                   368 
 (financial adviser to NewCo & Management 
  Team) 
 Simon Bennett 
 Stuart Gledhill 
 Katy Birkin 
 
                                             020 76 299 
 Morgan Rossiter                                    101 
 (public relations adviser to NewCo) 
 Richard Evans 
 
                                             019 08 251 
 WorkPlace Systems International Plc                300 
 Ian Lenagan, Chairman 
 John Herring, Non-executive Director 
 
                                             020 70 634 
 Mazars Corporate Finance Limited                   000 
 (financial adviser to the Independent 
  Directors) 
 Stephen Skeels 
 Andrew Millington 
 Simon Fitzsimmons 
 
                                             020 31 786 
 Biddicks                                           378 
 (public relations adviser to WorkPlace 
  Systems) 
 Zoe Biddick 
 Sophie McNulty

This information is provided by RNS

The company news service from the London Stock Exchange

END

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