Sondex PLC
10 November 2006
Sondex plc ("Sondex" or the "Company")
Posting of Supplementary Prospectus & Open Offer Result
10 November 2006
On 9 November 2006, the Company posted a Supplementary Prospectus to its
Shareholders concerning the change of recommendation of the Board in relation to
the proposed acquisition of Innicor Subsurface Technologies Inc. and the Firm
Placing and Placing & Open Offer, Sondex's unaudited interim results for the six
months ended 31 August 2006 and Innicor's unaudited interim results for the
third quarter ended 30 September 2006.
Shareholders' attention is drawn to the change of recommendation by the Board as
stated in the Supplementary Prospectus. The Board now strongly advises
Shareholders to vote against all resolutions to be proposed at the Extraordinary
General Meeting to be held at 4.00pm on 16 November 2006.
On 19 October 2006, Sondex announced details of a proposed Firm Placing of
7,575,481 New Ordinary Shares and Open Offer of 8,104,322 New Ordinary Shares at
280 pence per New Ordinary Share, of which 7,575,481 New Ordinary Shares have
been placed firm and 8,104,322 New Ordinary Shares were being placed
conditionally subject only to clawback to satisfy valid acceptances under the
Open Offer.
The Open Offer has now closed in accordance with its terms. The Board of Sondex
announces that valid acceptances under the Open Offer have been received from
Qualifying Shareholders in respect of 2,486,633 Open Offer Shares. This
represents approximately 30.7 per cent. of the Open Offer Shares offered
pursuant to the Open Offer.
As a result of the acceptances received under the Open Offer, the balance of
5,617,689 Open Offer Shares, representing 69.3 per cent. of the 8,104,322 New
Ordinary Shares placed subject to clawback, will fall to be taken up by the
institutional investors with whom shares have been conditionally placed.
The Firm Placing, Placing and Open Offer remain conditional upon the passing of
the Resolutions to be proposed at the Extraordinary General Meeting to be held
at 4.00pm on 16 November 2006 and upon Admission.
The final time and date for receipt of Forms of Proxy in relation to the
Extraordinary General Meeting is 4.00 p.m. on 14 November 2006. Completion and
return of a Form of Proxy will not preclude Shareholders from attending and
voting in person at the Extraordinary General Meeting.
Shareholders' attention is drawn to the change of recommendation by the Board as
stated in the Supplementary Prospectus. The Board now strongly advises
Shareholders to vote against all resolutions to be proposed at the Extraordinary
General Meeting to be held at 4.00pm on 16 November 2006.
For further information please contact:
Sondex Tel: 01252 862 200
Martin Perry (Chief Executive)
Chris Wilks (Finance Director)
Investec Tel: 020 7597 5970
James Grace / Patrick Robb
College Hill Tel: 020 7457 2020
Nick Elwes / Paddy Blewer
www.sondex.com
This information is provided by RNS
The company news service from the London Stock Exchange
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