Compulsory Acqn of Shares

NewMedia SPARK PLC 3 August 2000 NewMedia SPARK plc ('SPARK') Recommended offer (the 'Offer') for Softtechnet.com plc ('Softtechnet') Commencement of compulsory acquisition procedures Valid acceptances of the Offer have been received from shareholders in Softtechnet amounting to over 90 per cent. in value of the shares in Softtechnet to which the Offer relates. Accordingly, on 2 August 2000, Peel Hunt plc, on behalf of SPARK, despatched statutory notices under the provisions of section 429(4) of the Companies Act 1985 that SPARK intends to exercise the powers conferred by that Act to acquire compulsorily on the terms of the Offer the remaining shares in Softtechnet in respect of which valid acceptances have not been received by the expiry of the requisite notice period.
UK 100