Microgen plc
10th September 2004
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Recommended Offer by
UBS Investment Bank
on behalf of
Microgen plc
for
AFA Systems plc
Result of Mix and Match Facility
The board of Microgen plc ('Microgen') announces that as at 3.00 p.m. (London
time) on 9 September 2004 it has received a number of valid elections under the
Mix and Match Facility both from AFA Shareholders wishing to receive additional
cash in respect of 20,462,416 AFA Shares and from those wishing to receive
additional New Microgen Shares in respect of some 14,324,549 AFA Shares.
Under the basic terms of the Offer for each AFA share an AFA Shareholder would
receive 4.51 pence in cash and 0.18168 in New Microgen Shares. As the Mix and
Match Facility is now closed, elections under the Mix and Match Facility will
be satisfied as follows:
* for each AFA Share for which a valid election for additional cash was made
7.67 pence in cash and 0.12862 in New Microgen Shares
* for each AFA Share for which a valid election for additional New Microgen
Shares was made 0.25748 New Microgen Shares
The Offer still remains open for acceptance until further notice.
Microgen
Mike Phillips, Group Finance Director
Phone: 01753 847122
UBS Investment Bank
Nick Adams
Phone: 020 7567 8000
Financial Dynamics
Giles Sanderson
Phone: 020 7831 3113
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Obtains access to the information in a personal capacity;
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Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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