Redstone bid for Symphony Tel

Eckoh Technologies PLC 22 June 2006 For immediate release 22 June 2006 Eckoh Technologies plc Recommended cash offer for Symphony Telecom Holdings plc ("Symphony") Eckoh Technologies plc ("Eckoh"), one of Europe's leading speech application service providers, today announces that the Board of Symphony and the Board of Redstone plc ("Redstone") have reached agreement on the terms of a recommended offer to be made by Evolution Securities Limited, on behalf of Redstone for the entire issued share capital of Symphony. The offer is being made on the basis of 54.5p in cash for each Symphony ordinary share at a premium of 14.7% to yesterday's mid-market closing share price and 32.9% compared to last September's placing price of 41p per ordinary share, valuing the entire issued and to be issued share capital of Symphony at £17.3 million. Eckoh has an interest in 20,099,999 ordinary shares representing 64.6% of the issued ordinary share capital of Symphony. Symphony has today announced its results for the year ended 31 March 2006, reporting an operating loss of £0.3 million on turnover of £61.3million. As at 31 March 2006, Symphony had net assets of £4.4 million, including cash balances of £4.5million. The Eckoh Board has undertaken to accept the Redstone offer, which will realise approximately £11.0 million in cash for Eckoh, the proceeds of which will be placed on deposit. Redstone is a leading provider of telecoms and IT solutions for businesses and organisations of all types and sizes. Notice of Preliminary Results Eckoh Technologies plc will announce its preliminary results for the twelve months ending 31 March 2006 on Tuesday 27 June 2006. A meeting for analysts will be held at 9.30am at the offices of Buchanan Communications, 45 Moorfields, London, EC2Y 9AE on Tuesday 27 June 2006. Eckoh Technologies plc Tel: 08701 100 700 Martin Turner, Chief Executive Officer Nik Philpot, Chief Operating Officer Adam Moloney, Group Finance Director Buchanan Communications Tel: 020 7466 5000 Mark Edwards/Jeremy Garcia Corporate Synergy Tel: 020 7448 4400 Brian Stockbridge This information is provided by RNS The company news service from the London Stock Exchange

Companies

Eckoh (ECK)
UK 100

Latest directors dealings