Spirent PLC
10 November 2000
ACQUISITION OF NET-HOPPER SYSTEMS INC. COMPLETED
Spirent plc, the international network technology company, today
announces the completion of its acquisition of Net-HOPPER Systems Inc
(Net-HOPPER), following the announcement on 17 October 2000.
8,430,925 Spirent new Ordinary shares have been issued to the vendors of
Net-HOPPER in connection with the acquisition. A further 1,218,996
shares have been blocklisted with the UK Listing Authority in connection
with the rollover of unexercised Net-HOPPER stock options, into options
over Spirent shares. Dealings in Spirent shares issued in connection
with the acquisition are expected to commence on Friday 10 November
2000. Approximately 50 per cent of the shares issued must be retained by
the vendors for at least 18 months, subsequent to completion.
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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