Application for new shares
Screen PLC
26 March 2002
Screen plc ('the Company')
Application for admission of new ordinary shares to AIM
Screen Plc, a leading provider of advanced security and communication systems,
announces that, pursuant to the satisfaction of earn-out arrangements entered
into in relation to the acquisition of Pentyre Limited which was announced on 16
July 2001, it has made application for 596,937 new ordinary shares of 1p each
('the New Shares') to be admitted to the Alternative Investment Market of the
London Stock Exchange. Admission of the New Shares is expected to take place on
2 April 2002. The New Shares will be identical in all respects to the Company's
existing ordinary shares.
Screen Plc also announces that Pentyre Ltd has been merged with Petards Vision
to form a specialist Security & Surveillance Division. The merger streamlines
the current group structure, but more importantly creates a logical business
grouping with the resources, products and critical mass they need to sustain
planned growth rates.
Commenting, Owen Williams, Screen Plc Chairman said:
'We are very pleased that the Pentyre team has exceeded our expected revenue
target and profit expectations for the period July to December 2001. When we
acquired Pentyre we bought a strong management, quality products, and an
established customer base, with obvious opportunities to grow organically and to
add value to our other business units. We are very pleased that this view has
been justified and that Pentyre, now fully integrated and re-branded under the
Petards name is performing strongly.'
26 March 2002
Contacts:
Screen Plc
James Shand - Finance Director
Tel: 01628 820011
www.screenplc.com
Binss & Co. PR Ltd
Paul McManus/Emma McCaffrey
Tel: 020 7786 9600
e-mail: paul.mcmanus@binnspr.co.uk
About Pentyre
Pentyre, based in Hemel Hempstead, specialises in the development and support of
software for surveillance, imaging, real-time control and communications
systems. Their solutions are used in a range of demanding environments
including the London Underground. The company offers a comprehensive set of
control centre software products for both the public and private sectors, and
provides project based development services to many leading international
communications and control equipment manufacturers.
Pentyre supports a wide range of customers including Bosch, BT, Ericsson,
Motorola, Siemens, the London Underground, many Local Authorities and the Sydney
Opera House, where its security & surveillance system is used to monitor all of
the CCTV cameras within the Opera House precinct.
About Screen Plc
Screen, listed on AIM since 1997, is a business-to-business solutions provider
specialising in advanced security, communications and mobile data systems for
the police and fire services, as well as central and local government, utilities
and commercial sectors. Under the Petards brand, Screen develops and supports
market-leading solutions for surveillance, integrated mobile data, in-car video
and automatic recognition systems, customer relationship management and
corporate knowledge delivery systems, as well as emergency services MIS,
mobilisation and command & control systems.
Screen employs over 260 people in the UK and Denmark and operates in over 48
countries. Screen's most visible product is ProVida, the in-car video evidence
systems used by many of the world's police forces. Footage from this product
regularly features in TV programs such as 'Police Camera Action'.
This information is provided by RNS
The company news service from the London Stock Exchange