STATEMENT OF INTENTION NOT TO MAKE AN OFFER

RNS Number : 3328N

Coms PLC

05 September 2013

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD BE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION (EACH A "RESTRICTED JURISDICTION")

COMS PLC

("Coms" or the "Company")

Statement of intention not to make an offer for Pinnacle Technology Group plc ("Pinnacle") under Rule 2.8 of the City Code on Takeovers and Mergers

5 September 2013

The Board of Coms plc (the "Board") notes the announcement today by the board of Pinnacle that it is not recommending the non-binding indicative offer (the "Proposal") from Coms on terms consistent with Coms' statement regarding a possible offer announced on 3 September 2013. The Board considers that the Proposal reflects fair value for Pinnacle shareholders and, as such, without a recommendation from the board of Pinnacle, the Board confirms that it has no current intention to make an offer for Pinnacle.

For enquiries please contact:

Coms plc                                                                                                                           Tel: [phone]

David Breith (CEO)

Iain Ross (Chairman)

Charles Stanley Securities                                                                                         Tel: [phone]

Financial Adviser, Nominated Adviser & Broker

Karri Vuori / Phil Davies

A copy of this announcement will be made available, free of charge subject to certain restrictions relating to persons resident in Restricted Jurisdictions, at www.coms.com/comsplcnews.html by no later than 12 noon (London time) on the business day following the date of this announcement.

Charles Stanley Securities, which is authorised and regulated in the UK by the Financial Conduct Authority, is acting exclusively for Coms and no one else in connection with the Proposal and this announcement and will not be responsible to anyone other than Coms for providing the protections afforded to clients of Charles Stanley Securities nor for providing advice in connection with the Porposal or any matter referred to herein.

 

END

 

 

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