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Imagestate plc Suspends Trading |
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Written by Press Release
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Wednesday, 12 April 2006 |
April 11, 2006--Imagestate plc (“Imagestate ” or the “Company”) Suspension of Trading on AIM
The
Company has today requested that the trading of its ordinary shares on
AIM be suspended pending clarification of the Company’s financial
position.
Following discussions with its largest shareholder and
principal provider of capital, the Directors of the Company have
resolved to seek purchasers for all or part of the business. There can
be no certainty however that any offer will be forthcoming.
Shareholders will be kept informed of further developments in due
course.
The Company confirms it has 2,138,543,089 ordinary shares of 0.1 pence
in issue with ISIN GB0001263606 in accordance with Rule 2.10 of the
City Code.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3
of the City Code on Takeovers and Mergers (the “Code”), if any person
is, or becomes, “interested” (directly or indirectly) in 1% or more of
any class of “relevant securities” of Imagestate (the offeree company),
all “dealings” in any “relevant securities” of that company (including
by means of an option in respect of, or a derivative referenced to, any
such “relevant securities”) must be publicly disclosed by no later than
3.30 pm (London time) on the London business day following the date of
the relevant transaction. This requirement will continue until the date
on which the offer becomes, or is declared, unconditional as to
acceptances, lapses or is otherwise withdrawn or on which the “offer
period” otherwise ends. If two or more persons act together pursuant to
an agreement or understanding, whether formal or informal, to acquire
an “interest” in “relevant securities” of Imagestate, they will be
deemed to be a single person for the purpose of Rule 8.3.
Under
the provisions of Rule 8.1 of the Code, all “dealings” in “relevant
securities” of Imagestate by the offeror or the offeree company, or by
any of their respective “associates”, must be disclosed by no later
than 12.00 noon (London time) on the London business day following the
date of the relevant transaction.
A disclosure table, giving
details of the companies in whose “relevant securities” “dealings”
should be disclosed, and the number of such securities in issue, can be
found on the Takeover Panel’s website at www.thetakeoverpanel.org.uk .
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