Admission to Official List
Zen Research PLC
30 June 2000
Not for release or distribution in or into the United States
of America, Canada, Japan or Australia
SHARES IN ZEN RESEARCH PLC COMMENCE TRADING
ON THE LONDON STOCK EXCHANGE
- Zen Research plc ('Zen') (LSE: ZEN) - the innovative
developer and licensor of high performance Multibeam
TrueX technology for use in DVD and CD optical storage
drives - today announces that its Ordinary Shares have
been admitted to trading on the London Stock Exchange
with effect from 8:00am this morning.
- Zen raised approximately £54 million (net), following a
Global Offer of 55,171,542 shares, of which 42,587,673
were new Ordinary Shares, to institutional investors.
- At the offer price of 150p per share, Zen has a market
capitalisation of approximately £256 million.
- Zen intends to use the proceeds for working capital,
research and development (both expansion and
acceleration), capital expenditure, marketing, and
strategic partnerships. Zen also intends to use the
proceeds to acquire companies, technologies or the right
to technologies should attractive opportunities arise.
- For its next generation of DVD technology, Zen has
already licensed its proprietary technologies to several
leading international electronics companies: Infineon for
DVD-ROM ASICs; Sanyo Electric for Multibeam DVD pick ups;
and LG Electronics for the resulting Zen technology DVD
drives. It is actively seeking further international
strategic licensing partners.
- In 1999, sales of DVD drives grew 138% to 14.5 million
units according to International Data Corporation (IDC).
Starting at the high end of the market, Zen believes that
DVD will replace CD in many PC systems. IDC estimates
that annual sales of PCs with optical drives will exceed
130 million units in 2000 and are expected to grow to 182
million units by 2003.
- UBS Warburg is acting as sponsor, financial adviser and
broker to the issue and WestLB Panmure is acting as co-
manager in connection with the Global Offer.
For further information:
Zen Research
Emil Jachmann Tel: 0044 20 7353 9203
UBS Warburg
Oliver Pawle, Michael Lacey-Solymar Tel: 0044 20 7606 1066
Bell Pottinger Financial
Mark Way/ Oliver Jones Tel: 0044 20 7353 9203
www.zenresearch.com
Summary Information:
- Zen develops and licenses high performance Multibeam
TrueX technology for use in DVD and CD optical storage
drives.
- High performance Zen enabled optical drives create
competitive advantages which are important for the entire
PC market, particularly the fast growing laptop, notebook
and 'all in one' PC sector.
- Zen's technology has already been commercially proven in
CD drives - a 72X CD-ROM manufactured by Kenwood
Corporation using Zen components is the fastest CD-ROM
drive in the world. The Kenwood Zen drive has been
featured by Compaq in a number of model ranges.
- Zen, which commenced business in 1994, has marketing and
business development offices in Silicon Valley,
California and research laboratories in Tel Aviv, Israel
and is incorporated in the UK. Zen employs approximately
50 personnel worldwide.
This announcement does not constitute an offer of securities
for sale in the United States. The securities referred to
herein have not been and will not be registered under the US
Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to or for the benefit of US
except persons pursuant to an available exemption from
registration. Any offering of the Company's securities will be
made only by means of a prospectus/listing particulars that
will contain detailed information about the Company and its
management, as well as financial statements. There shall not
be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of
such jurisdiction.
This announcement has been issued by, and is the sole
responsibility of Zen Research (the 'Company') and has been
approved solely for the purposes of Section 57 of the
Financial Services Act 1986 by UBS AG acting through its
financial services group UBS Warburg ('UBS Warburg') which is
regulated in the UK by the Securities and Futures Authority
Limited and is sponsor and financial adviser to the Company in
connection with the proposed flotation and public offering of
shares in the Company (the 'Global Offer'). UBS Warburg is
advising the Company in relation to the proposed Global Offer
and no one else and will not be responsible to anyone other
than the Company for providing the protections afforded to
customers of UBS Warburg nor for providing advice in relation
to the proposed Global Offer. Prices and values of, and
income from, shares may go down as well as up. Past
performance is not a guide to future performance. Persons
needing advice should consult an independent financial
adviser. Stabilisation/FSA.
This announcement does not constitute, or form part of, an
offer, or solicitation of an offer, for securities and any
purchase of, or application for, shares to be issued or sold
in connection with the Global Offer should only be made on the
basis of information contained in the prospectus/listing
particulars to be issued in connection with the Global Offer.
This announcement is not for distribution or release in or
into Japan, Australia, Canada or the United States.