Valid Tenders Accepted for 7.2 million Shares

Vitec Group PLC 01 November 1999 Vitec Group plc ('Vitec' or the 'Company') ------------------------------------------ Vitec is pleased to announce that it is accepting valid tenders for approximately 7.2 million of its ordinary shares, representing 14.9 per cent of its ordinary share capital. The tender offer was announced on 4 October 1999 and closed on 29 October 1999 following shareholder approval at an Extraordinary General Meeting of the Company held on that day. Vitec has set the strike price at 630 pence per share. All shares validly tendered below the strike price have been accepted in full. As the tender offer is oversubscribed, the first 1,000 shares per shareholder tendered at the strike price have been accepted in full and remaining validly tendered shares at the strike price will be scaled back pro rata on the basis of 877 shares being repurchased for every additional 1,000 shares validly tendered. The total consideration for the tender offer of approximately £45 million, will be sent on 8 November 1999 either through CREST or by cheque despatched by first class post to those shareholders who successfully tendered shares. Enquiries: Malcolm Baggott Roland Peate Vitec Group plc Tel: 01494 679 800

Companies

Videndum (VID)
UK 100

Latest directors dealings