Manpower Software PLC
14 May 2001
14 May 2001
MANPOWER SOFTWARE PLC ('the Company')
Further Re: Rights Equity Issue
Manpower Software plc announces that further to the Rights Issue announcements
on 19 and 20 April 2001, the entitlements of warrant holders under the warrant
deed dated 16 December 1999 ('the Deed') have been adjusted as described
below.
The Deed requires that in the event of a rights issue being undertaken by the
Company, the subscription price for warrants is to be decreased by reference
to the discount applied to shares issued pursuant to the rights issue and the
number of warrants held by warrant holders increased, such that the total
exercise price of all the warrants before and after these adjustments remains
the same.
With effect from 23 April 2001, being the date of issue of the new Ordinary
Shares under the Rights Issue, the subscription price of each warrant has
become 67 pence per Ordinary Share and each warrant holder has been granted
additional warrants amounting to approximately 16.42% of their original
holding. In accordance with the requirements of the Deed, these adjustments
have been certified as being fair and reasonable by the Company's auditors,
HLB Kidsons.
New warrant certificates will be despatched to warrant holders shortly.
For further information please contact:
Manpower Software plc
Simon Thorne, Finance Director (020) 7462 3300
Strand Partners Limited
Simon Raggett, Director (020) 7409 3494
END
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