Notice of General Meeting and

RNS Number : 5084I

Avisen PLC

12 March 2010

 

Not for release, publication or distribution, in whole or in part, in, directly or indirectly, or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction

12 March 2010

Recommended proposal for the acquisition of Xploite plc ("Xploite") by Avisen plc

("Avisen") to be implemented by means of a Scheme of Arrangement

NOTICE OF AVISEN GENERAL MEETING AND POSTING OF CIRCULAR

On 11 March 2010, the directors of Avisen and Xploite announced that they had reached agreement on the terms of a recommended Proposal under which Avisen will acquire the entire issued and to be issued share capital of Xploite, to be implemented by means of a scheme of arrangement (the "Scheme") under Part 26 of the Companies Act 2006 (the "Act").

Capitalised terms used in this announcement shall have the same meaning as ascribed in the announcement dated 11 March 2010 unless the context otherwise requires.

The board of Avisen is pleased to announce that a Circular containing the notice of the Avisen General Meeting to be held at 10.00 a.m. on 6 April 2010 is today being posted to all Avisen Shareholders. In addition and for information purposes the Scheme Document containing, inter alia, the terms and conditions of the Scheme, an explanatory statement (in compliance with section 897 of the Act), notices of the Court Meeting and General Meeting of Xploite and a timetable of principal events, and details of the actions to be taken by Xploite Shareholders is today also being posted to all Avisen Shareholders.

Copies of this announcement, the Circular and the Scheme Document will be published on Avisen's website at www.avisenplc.com and copies of the Circular will be available from the offices of Brown Rudnick LLP, 8 Clifford Street, London, W1S 2LQ. Copies of the Scheme Document will be available from the offices of Beachcroft LLP, 100 Fetter Lane, London EC4A 1BN

Enquiries:

Avisen plc	0870 880 2978
Marcus Hanke (Chief Executive Officer)
Zeus Capital Limited (financial adviser to Avisen)	0161 831 1512
Ross Andrews
Nick Cowles
Bishopsgate Communications (PR adviser to Avisen)	020 7562 3355
Robyn Samuelson
Siobhra Murphy

 

END

 

 

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