Spirent PLC
14 November 2000
ACQUISITION OF ZARAK SYSTEMS CORPORATION COMPLETED
Spirent plc, the international network technology company, today announces
the completion of its acquisition of Zarak Systems Corporation ('Zarak') of
Sunnyvale, California, following the announcement on 10 September 2000.
41,084,292 Spirent new Ordinary shares have been issued to the vendors of
Zarak in connection with the acquisition. A further 3,895,474 shares have
been blocklisted with the UK Listing Authority in connection with the
rollover of unexercised Zarak stock options into options over Spirent shares.
Dealings in Spirent shares issued in connection with the acquisition are
expected to commence on Tuesday 14 November 2000.
Following completion, Iain Milnes, Zarak's President, became a substantial
shareholder in Spirent, holding approximately 5% of the Company's issued
share capital. Any sale of shares received by major Zarak shareholders,
including key employees, are subject to certain restrictions on dealing which
will be released on a phased basis over the period up to the announcement of
Spirent's results for the half year to 30 June 2001, provisionally scheduled
for September 2001.
Accordingly, application has been made to the Financial Services Authority
for the above shares to be admitted to the Official List and to the London
Stock Exchange for the above shares to be admitted to trading. The Spirent
Ordinary shares that have been issued rank pari passu with the existing
issued shares of the Company.
Enquiries:
Nicholas Brookes, Chief Executive Spirent plc +44 (0)1293 767676
Eric Hutchinson, Finance Director
Jon Coles/Rupert Young Brunswick (London) +44 (0)20 7404 5959
Sara Strong/Nina Pawlak Brunswick (New York) +1 212 333 3810
Background note:
Spirent plc is an international network technology company providing state-of-
the-art solutions with a focus on high growth, high margin activities. It is
a world leader in advanced telecommunications testing systems and network
products. www.spirent.com
Spirent is a FTSE 100 company quoted on the London Stock Exchange (ticker
SPT) in the Information Technology Hardware sector. The Company operates a
Level 1 American Depository Receipt programme (ticker: SPNUY; CUSIP number:
84856M100). For information, contact Brian Heston, The Bank of New York,
American Depositary Receipts, 101 Barclay St, 22 West, New York, NY 10286
Phone: (212) 815 3938, Fax: (212) 571 3050, email: bheston@bankofny.com
web site: www.adrbny.com
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