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Hi-Tec Sports PLC (HTS)

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Thursday 14 September, 2000

Hi-Tec Sports PLC

Offer by Sunningdale Corp

Hi-Tec Sports PLC
14 September 2000


Not for release, publication or distribution in or into Canada, Australia or
Japan

RECOMMENDED CASH OFFER BY SUNNINGDALE CORPORATION FOR HI-TEC SPORTS PLC

Highlights

Sunningdale and the Independent Directors of HI-TEC announce that agreement
has been reached on the terms of a recommended cash offer, to be made by
Arthur Andersen Corporate Finance on behalf of Sunningdale, to acquire the
whole of the issued and to be issued share capital of HI-TEC not already owned
by Sunningdale.

Sunningdale is a newly incorporated company which is wholly owned by Frank van
Wezel, the Chairman of HI-TEC, and members of his family, and which has been
set up specifically for the purpose of making the Offer.  Sunningdale has
already acquired the entire shareholding in HI-TEC of Frank van Wezel and
members of his family, amounting to 31,707,215 HI-TEC Shares, representing
60.60 per cent. of the issued share capital of HI-TEC, in exchange for an
issue of shares in Sunningdale.

The Offer:

- will be made on the basis of 30p in cash for each HI-TEC Share;

- values the whole of the existing issued share capital of HI-TEC at          
  approximately £15.7 million; and

- represents a premium of approximately 66.67 per cent. over the Closing Price
  of 18p on 18 February 2000, the business day prior to the announcement of   
  discussions concerning a possible offer.

Sunningdale has received irrevocable undertakings to accept the Offer from all
of the Directors who own HI-TEC Shares in respect of their holdings amounting
to 269,865 HI-TEC Shares, representing approximately 0.52 per cent. of the
issued share capital of HI-TEC, and from Mr David Whelan, the beneficial owner
of 1,700,000 HI-TEC Shares, representing approximately 3.25 per cent. of the
issued share capital of HI-TEC. Accordingly, Sunningdale has received
irrevocable undertakings to accept the Offer in respect of 1,969,865 HI-TEC
Shares, representing approximately 3.77 per cent. of the issued share capital
of HI-TEC.

Frank van Wezel, the sole director of Sunningdale and Chairman of HI-TEC,
said:

'I am pleased to be able to offer HI-TEC shareholders the opportunity to exit
under the Offer. The illiquidity in the market for HI-TEC shares has meant
that, for some time prior to the announcement of offer discussions on 21
February 2000, the market price of HI-TEC shares had not fully reflected the
worth of the Group.  I believe that the true value is unlikely to be realised
through HI-TEC's market price in a timeframe acceptable to HI-TEC
shareholders.'


This summary should be read in conjunction with the attached announcement.

Enquiries:

Sunningdale                                   HI-TEC Sports Plc
Frank van Wezel     01702 541 741             Roger Rowland  01702 541 741
Paul Harrison       01702 541 741

Arthur Andersen Corporate Finance             Old Mutual Securities Limited
Leonie Grimes       020 7438 3000             Philip Dayer  020 7489 4600

The Offer will not be made, directly or indirectly, in or into, or by use of
the mails, or by any means or instrumentality (including, without limitation,
facsimile transmission, telex and telephone) or interstate or foreign commerce
of, or of any facility of a national securities exchange of Canada, Australia
or Japan.

Arthur Andersen Corporate Finance, a division of Arthur Andersen, which is
authorised to carry on investment business by the Institute of Chartered
Accountants in England and Wales, is acting exclusively for Sunningdale and no
one else in connection with the Offer and will not be responsible to anyone
other than Sunningdale for providing the protections afforded to clients of
Arthur Andersen or for giving advice in relation to the Offer.

Old Mutual Securities, a division of Old Mutual Securities Limited, which is
regulated by The Securities and Futures Authority Limited, is acting only for
HI-TEC, acting through the Independent Directors, and no one else in
connection with the Offer and will not regard any other person as its customer
or be responsible to anyone other than HI-TEC, acting through the Independent
Directors, for providing the protections afforded to customers of Old Mutual
Securities, nor for providing advice to any such person in relation to the
Offer.


Not for release, publication or distribution in or into Canada, Australia or
Japan

RECOMMENDED CASH OFFER BY SUNNINGDALE CORPORATION FOR HI-TEC SPORTS PLC

              
Introduction

On 21 February 2000, HI-TEC announced that discussions were being conducted
between the Company's executive Directors and the Independent Directors which
might or might not lead to a recommended offer being made for the entire
issued share capital of HI-TEC. Further to that statement, Sunningdale and the
Independent Directors announce that agreement has been reached on the terms of
a recommended cash offer, to be made by Arthur Andersen Corporate Finance on
behalf of Sunningdale, to acquire the whole of the issued and to be issued
share capital of HI-TEC not already owned by Sunningdale.

The Independent Directors, who have been so advised by Old Mutual Securities,
consider the terms of the Offer to be fair and reasonable and unanimously
recommend HI-TEC Shareholders to accept the Offer. In providing advice to the
Independent Directors, Old Mutual Securities has taken into account the
Independent Directors' commercial assessments.

Sunningdale is a newly incorporated company which is wholly owned by Frank van
Wezel, the Chairman of HI-TEC, and members of his family, and which has been
set up specifically for the purpose of making the Offer. Sunningdale has
already acquired the entire shareholding in HI-TEC of Frank van Wezel and
members of his family, amounting to 31,707,215 HI-TEC Shares, representing
approximately 60.60 per cent. of the issued share capital of HI-TEC, in
exchange for an issue of shares in Sunningdale.

Sunningdale has received irrevocable undertakings to accept the Offer from all
of the Directors who own HI-TEC Shares in respect of their holdings amounting
to 269,865 HI-TEC Shares, representing approximately 0.52 per cent. of the
issued share capital of HI-TEC, and from Mr David Whelan, the beneficial owner
of 1,700,000 HI-TEC Shares, representing approximately 3.25 per cent. of the
issued share capital of HI-TEC. Accordingly, Sunningdale has received
irrevocable undertakings to accept the Offer in respect of 1,969,865 HI-TEC
Shares, representing approximately 3.77 per cent. of the issued share capital
of HI-TEC.

The Offer

The Offer, for all of the HI-TEC Shares which Sunningdale does not already
own, will be made on the following basis:

for each HI-TEC Share         30p in cash

The Offer values the whole of the existing issued share capital of HI-TEC at
approximately £15.7 million and the Offer Price represents a premium of
approximately 66.67 per cent. over the Closing Price of 18p on 18 February
2000, the business day prior to the announcement of discussions concerning a
possible offer.

Information on HI-TEC

HI-TEC is a designer, marketer and distributor of performance sport athletic,
outdoor and service/ tactical footwear. HI-TEC markets a wide variety of
footwear products in distinct categories under its principal brand names of
HI-TEC, 50 Peaks, Adventure Racing Series and Magnum and licenses its brand
names to vendors of apparel, accessories and luggage.

In the 35 week period ended 31 December 1999, HI-TEC achieved audited
consolidated turnover of £53.4 million and loss before taxation of £0.9
million. In the six months ended 30 June 2000 HI-TEC returned to profitability
because it recorded an increase in gross margin. HI-TEC achieved unaudited
consolidated turnover of £43.7 million and profit before taxation of £1.3
million. The net assets of  HI-TEC as at 30 June 2000 were £20.3 million.

The Directors forecast that the consolidated profit before taxation of the
HI-TEC Group for the 52 week period ending 31 December 2000 will be not more
than £1.0 million.  The basis of preparation and principal assumptions for
this profit forecast, together with related letters from Deloitte & Touche,
auditors to HI-TEC, and from Old Mutual Securities, financial advisers to
HI-TEC, are set out in Appendix IV to this announcement.

Information on Sunningdale and the financing of the Offer

Sunningdale is a newly incorporated company set up specifically for the
purpose of making the Offer.

The financing of the Offer comprises secured debt financing totalling £7.1
million, which has been provided by Frank van Wezel.

Reasons for the Offer

Frank van Wezel believes that, for the reasons stated below, being a listed
company provides little benefit to HI-TEC whilst imposing a financial and
regulatory burden on the Group.  

There are few institutional holders of HI-TEC Shares. Frank van Wezel believes
that this lack of institutional interest stems, inter alia, from the following
factors:

- in general, institutional investors are concentrating more on investing in  
  the shares of larger companies with the result that there is less           
  institutional appetite for the shares of smaller companies such as HI-TEC;

- Frank van Wezel and his family control approximately 60.60 per cent. of the 
  HI-TEC Shares which contributes to illiquidity in the market for HI-TEC     
  Shares; and

- the worldwide sports footwear market has uncertainties created not only by  
  fashion swings, but by consolidation taking place in the industry.

Against this background, Frank van Wezel considers that it would be difficult
in the near future for HI-TEC to raise funds for development through the
institutional equity market.  

Furthermore, Frank van Wezel believes that having a UK listing does not assist
the Group from a commercial perspective in its existing worldwide business nor
is it expected to be of benefit in the planned development of the Group's
brands in the USA.  

In addition, Frank van Wezel believes that the interests of HI-TEC
Shareholders would be best served by providing them with the opportunity to
exit under the Offer. The illiquidity referred to above has meant that, for
some time prior to the announcement of offer discussions on 21 February 2000,
the market price of HI-TEC Shares, has not, in Frank van Wezel's opinion,
fully reflected the worth of the Group. Frank van Wezel believes that the true
value of the Group is unlikely to be realised through the market price of
HI-TEC Shares in a timeframe acceptable to HI-TEC Shareholders.

In summary, Frank van Wezel believes that full acceptance of the Offer will:

- enable HI-TEC Shareholders to realise their investment in HI-TEC, without   
  incurring dealing charges, at a price which fairly reflects the value of the
  HI-TEC Group and represents a premium of approximately 66.67 per cent. over 
  the Closing Price of 18p on 18 February 2000, the business day prior to the 
  announcement of discussions concerning a possible offer;

- better enable HI-TEC to access private sources of capital; and

- remove from HI-TEC the financial and regulatory burden of being a listed    
  company.

Following the Offer becoming or being declared unconditional in all respects,
Sunningdale intends to build on the progress made by the Board, and to
continue the existing business of the Group.

Management and Employees

Sunningdale has given written assurance to the Independent Directors that the
existing employment rights, including pension rights, of all HI-TEC Group
employees will be fully safeguarded.

Frank van Wezel (Chairman), Paul Harrison (Group Chief Executive) and Brad
Lemkus (Managing Director, HI-TEC Sports International) will be appointed to
the same positions on the board of Sunningdale once the Offer becomes or is
declared unconditional in all respects.

Sunningdale proposes to adopt a scheme to incentivise the key management of
HI-TEC by issuing shares to them in Sunningdale following completion of the
Offer, up to a maximum of 10 per cent. of Sunningdale's share capital, and to
incentivise other employees of the HI-TEC Group by introducing a phantom share
scheme. The precise terms of such proposals for each individual will not be
finalised until after the Offer has become or been declared unconditional in
all respects.

Frank van Wezel, Paul Harrison and Brad Lemkus will, following the Offer
becoming or being declared unconditional in all respects, retain their
executive positions in the management of the HI-TEC Group. The Independent
Directors and Donald Bell will, following the Offer becoming unconditional,
resign as Directors without the payment of compensation for loss of office
other than their contractual entitlements under their respective letters of
appointment or, in the case of Donald Bell, his employment contract. 

HI-TEC Share Option Schemes

The Offer extends to any HI-TEC Shares issued or unconditionally allotted and
fully paid whilst the Offer remains open for acceptance (or such earlier date
or dates as Sunningdale may, subject to the City Code, determine) including
those unconditionally allotted or issued and fully paid, or credited as fully
paid, pursuant to the exercise of options under the HI-TEC Share Option
Schemes.

If the Offer becomes or is declared unconditional in all respects, it is
intended that appropriate proposals will be made, in due course, to HI-TEC
Share Option Holders.

De-listing of HI-TEC Shares

If the Offer becomes or is declared unconditional in circumstances where
Sunningdale holds more than 75 per cent. of the existing issued share capital
of HI-TEC, there will no longer be sufficient HI-TEC Shares in public hands to
comply with the Listing Rules of the UK Listing Authority and an application
will be made for the listing of HI-TEC Shares on the Official List and trading
on the London Stock Exchange to be cancelled. The cancellation would take
effect 20 business days after the date of the announcement that the Offer has
become or been declared unconditional at a level of acceptances which, when
added to the HI-TEC Shares already held by Sunningdale, means that Sunningdale
holds more than 75 per cent. of the existing issued share capital of HI-TEC. 
In any event, Sunningdale has confirmed to the Independent Directors that, if
the Offer becomes or is declared unconditional in all repects, the Offer will
remain open for acceptance for at least four months from the date hereof or
until the conclusion of the compulsory acquisition procedure, if earlier.

Compulsory Acquisition

On receipt of valid acceptances in respect of not less than 90 per cent. of
the HI-TEC Shares which are the subject of the Offer, Sunningdale intends to
apply the provisions of sections 428 to 430F of the Act to acquire
compulsorily any HI-TEC Shares not already owned by Sunningdale in respect of
which valid acceptances have not been received.

General

Save as disclosed above, neither Sunningdale, nor persons acting in concert
with Sunningdale, hold any shares in HI-TEC or options or derivatives
referenced thereto.

The HI-TEC Shares which Sunningdale does not already own will be acquired by
Sunningdale fully paid, or credited as fully paid, and free from all charges,
liens, equitable interests, encumbrances, rights of pre-emption and any other
third party rights of any nature whatsoever and together with all rights now
or hereafter attaching thereto, including the right to receive and retain all
dividends and any other distributions declared, made or paid hereafter.

The Offer is conditional, inter alia, upon valid acceptances being received by
not later than 3.00 pm on the First Closing Date of the Offer (expected to be
5 October 2000 or such later date(s) as Sunningdale may, subject to the City
Code, decide) in respect of not less than 90 per cent. of the HI-TEC Shares
for which the Offer is made or such smaller percentage as Sunningdale may
decide.

The Offer Document and the Form of Acceptance, setting out details of the
Offer, are expected to be posted today.

The Offer is made on the terms and is subject to the further conditions set
out in Appendix I to this announcement.

The definition of terms used in this announcement are contained in Appendix II
to this announcement.

Deloitte & Touche has given and has not withdrawn its written consent to the
issue of this announcement with the inclusion of its letter and the references
to its name in the form and context in which they respectively appear.

Old Mutual Securities has given and has not withdrawn its written consent to
the issue of this announcement with the inclusion of its letter and the
references to its name in the form and context in which they respectively
appear.


Enquiries:

Sunningdale                                   HI-TEC Sports Plc
Frank van Wezel  01702 541 741                Roger Rowland  01702 541741
Paul Harrison    01702 541 741 

Arthur Andersen Corporate Finance             Old Mutual Securities Limited
Leonie Grimes    020 7438 3000                Philip Dayer  020 7489 4600

The Offer will not be made, directly or indirectly, in or into, or by use of
the mails, or by any means or instrumentality (including, without limitation,
facsimile transmission, telex and telephone) or interstate or foreign commerce
of, or of any facility of a national securities exchange of Canada, Australia
or Japan.

Arthur Andersen Corporate Finance, a division of Arthur Andersen, which is
authorised to carry on investment business by the Institute of Chartered
Accountants in England and Wales, is acting exclusively for Sunningdale and no
one else in connection with the Offer and will not be responsible to anyone
other than Sunningdale for providing the protections afforded to clients of
Arthur Andersen or for giving advice in relation to the Offer.

Old Mutual Securities, a division of Old Mutual Securities Limited, which is
regulated by The Securities and Futures Authority Limited, is acting only for
HI-TEC, acting through the Independent Directors, and no one else in
connection with the Offer and will not regard any other person as its customer
or be responsible to anyone other than HI-TEC, acting through the Independent
Directors, for providing the protections afforded to customers of Old Mutual
Securities, nor for providing advice to any such person in relation to the
Offer.

APPENDIX I

CONDITIONS OF THE OFFER

The Offer is subject to the following conditions:

1. valid acceptances being received (and not, where permitted, withdrawn) by
not later than 3.00 pm on the First Closing Date (or such later time(s) and/or
date(s) as Sunningdale may, with the consent of the Panel or in accordance
with the City Code, decide) in respect of not less than 90 per cent. in
nominal value (or such lesser percentage as Sunningdale may decide) of the
HI-TEC Shares to which the Offer relates. For the purposes of this condition:

(a) the expression 'HI-TEC Shares to which the Offer relates' shall be
construed in accordance with sections 428 to 430F of the Act; and

(b) valid acceptances shall be deemed to have been received in respect of any
HI-TEC Shares which Sunningdale shall, pursuant to section 429(8) of the Act,
be treated as having acquired or contracted to acquire by virtue of
acceptances of the Offer.

2. no bonus, dividend or other distribution (other than to another member of
the HI-TEC Group) being recommended, declared, paid, made or proposed to be
recommended, declared, paid or made by HI-TEC since 30 June 2000.

Sunningdale reserves the right to waive, in whole or in part, condition 2. 
Sunningdale shall be under no obligation to waive or treat as satisfied
condition 2 by a date earlier than the latest date for the satisfaction
thereof notwithstanding that such condition or the other condition of the
Offer may at such earlier date have been waived or fulfilled and that there
are at such earlier date no circumstances indicating that any such conditions
may not be capable of fulfilment.

The Offer will lapse unless condition 2 above is fulfilled or waived or, where
appropriate, has been determined by Sunningdale in its reasonable opinion to
be or to remain satisfied no later than 21 days after the later of the First
Closing Date and the date on which the Offer becomes or is declared
unconditional as to acceptances, or such later date as Sunningdale may, with
the consent of the Panel, decide.

APPENDIX II

DEFINITIONS

The following definitions apply throughout this announcement, unless the
context requires otherwise:

'Act'                                the Companies Act 1985, as amended
'Arthur Andersen Corporate Finance'  the corporate finance division of Arthur 
                                     Andersen
'City Code'                          the City Code on Takeovers and Mergers
'Closing Price'                      the closing middle-market quotation of a 
                                     HI-TEC Share as derived from the Daily   
                                     Official List of the London Stock        
                                     Exchange
'Directors' or 'Board'               the directors of HI-TEC 
'First Closing Date'                 the first closing date of the Offer      
                                     (expected to be 5 October 2000 or such   
                                     later date(s) as Sunningdale may, subject
                                     to the City Code, decide)
'Form of Acceptance'                 the form of acceptance and authority for 
                                     use in connection with the Offer 
'HI-TEC'                             HI-TEC Sports Plc
'HI-TEC Group' or 'Group'            HI-TEC and its subsidiary undertakings
'HI-TEC Share Option Holders'        Holders of options to subscribe for      
                                     HI-TEC Shares under the HI-TEC Share     
                                     Option Schemes
'HI-TEC Share Option Schemes'        the HI-TEC Sports Plc 1994 Executive     
                                     Share Option Scheme and the HI-TEC Sports
                                     Public Limited Company Approved SAYE     
                                     Share Option Scheme
'HI-TEC Shareholders'                holders of HI-TEC Shares
'HI-TEC Shares'                      the existing unconditionally allotted or 
                                     issued and fully paid ordinary shares of 
                                     25p each in HI-TEC and any further such  
                                     shares which are unconditionally allotted
                                     or issued and fully paid or credited as  
                                     fully paid whilst the Offer remains open 
                                     for acceptance (or by such earlier date  
                                     or dates as Sunningdale may, subject to  
                                     the City Code or with the Panel's        
                                     consent, determine) including shares     
                                     unconditionally allotted or issued       
                                     pursuant to the exercise of options under
                                     the HI-TEC Share Option Schemes
'Independent Directors'              R S Rowland, E T Kirby and T N           
                                     Attenborough, being the non-executive    
                                     Directors of  HI-TEC and together being  
                                     the committee of those Directors who are 
                                     independent in relation to the Offer
'London Stock Exchange'              London Stock Exchange plc
'Offer'                              the recommended cash offer by Arthur     
                                     Andersen Corporate Finance on behalf of  
                                     Sunningdale to acquire all the HI-TEC    
                                     Shares not already owned by Sunningdale  
                                     on the conditions set out in this        
                                     announcement and, where the context      
                                     permits, any subsequent revision or      
                                     variation of such offer or any extension 
                                     or renewal thereof
'Offer Price'                        30p in cash for each HI-TEC Share not    
                                     already owned by Sunningdale
'Old Mutual Securities'              a division of Old Mutual Securities      
                                     Limited
'Panel'                              The Panel on Takeovers and Mergers
'person'                             a person (including an individual,       
                                     partnership, unincorporated syndicate,   
                                     limited liability company, unincorporated
                                     organisation, trust, trustee, executor,  
                                     administrator, or other legal            
                                     representative) 
'subsidiary undertaking'             has the meaning given in sections 258 and
                                     742 of the Act
'Sunningdale'                        Sunningdale Corporation
'UK Listing Authority'               the Financial Services Authority acting  
                                     in its capacity as the competent         
                                     authority for the purposes of Part IV of 
                                     the Financial Services Act 1986
'United Kingdom' or 'UK'             the United Kingdom of Great Britain and  
                                     Northern Ireland

APPENDIX III

Financial Effects of Acceptance

The comparisons set out below show, for illustrative purposes only, and on the
bases and assumptions set out in the notes below, the financial effects of
acceptance of the Offer on capital value and net income for an accepting
holder of one HI-TEC Share, if the Offer becomes or is declared unconditional
in all respects.
(i)       Capital value
                                        (p)
Cash received for one HI-TEC Share       30
Market value of one HI-TEC Share (1)     18
       
Increase in capital value                12
       
This represents an increase of        66.67%

(ii)       Net income
                                        (p)
Net income from cash consideration (2)   1.3
Net income from one HI-TEC Share (3)     0.5
       
Increase in net income                   0.8
       
This represents an increase of          160%


Notes:
1. The market value of one HI-TEC Share is based on the Closing Price of 18p
on 18 February 2000,  the business day prior to the announcement of
discussions concerning a possible offer.
2. Net income from the cash consideration under the Offer has been calculated
assuming that the cash consideration is reinvested so as to yield 5.55  per
cent. per annum, being the medium coupon average gross redemption yield on 12
September  2000 for the FTSE Actuaries Government Securities UK Gilts (5-15
years) Index as published in the Financial Times dated 13 September 2000 (the
business day prior to the date of this announcement).  This income is shown
net of 20 per cent. tax.
3. The net income from one HI-TEC Share is based on the aggregate of the
dividend of zero pence per HI-TEC Share in respect of the 35 week period ended
31 December 1999 plus the interim dividend of 0.5 pence (net) per HI-TEC Share
paid in respect of the 52 week period ended 30 April 1999.
4. No account has been taken of any potential liability to taxation on
accepting the Offer.  The net income figures show the after tax income of UK
resident individuals liable to tax at the basic or lower rate.  The after tax
position will be different for other categories of taxpayer.

APPENDIX IV

Profit forecast for the 52 week period ending 31 December 2000

1. Forecast of results

The Directors forecast that, in the absence of unforeseen circumstances and on
the bases of preparation and principal assumptions set out in paragraph 2
below, the consolidated profit before taxation of the HI-TEC Group for the 52
week period ending 31 December 2000 will be not more than £1.0 million.

2. Bases of preparation and principal assumptions

(a) The forecast of consolidated profit before taxation for the 52 week period
ending 31 December 2000 has been prepared using the accounting policies
adopted by the Group in its audited consolidated financial statements for the
35 week period ended 31 December 1999.  The forecast is based on the unaudited
interim results for the six months ended 30 June 2000, the unaudited
management accounts of the Group for the two months ended 31 August 2000 and a
forecast, prepared by the Directors, for the four months ending 31 December
2000.

No account has been taken of the expenses to be incurred in relation to the
Offer.

(b) The principal assumptions for factors exclusively outside the influence or
control of the Directors upon which the forecast is based are:

- exchange rates have been assumed to remain constant at the following rates:

US$1.51 / £1;
SAR10.26 / £1;
262 pta / £1;
56 CZK / £1;
Can$2.2 / £1;
       
- there will be no serious industrial disputes or other business interruptions
which will adversely affect the Group or its principal suppliers or customers;
- there will be no fundamental changes in fashion during the period to 31
December 2000 which impact on the style of shoes worn;
- there will be no further fundamental restructuring in the wholesale or
retail shoe markets;
- there will be no significant changes in economic conditions, interest rates
or bases of taxation; and
- there will be no significant changes in legislation which will affect the
Group.

(c) The principal assumptions for factors for which the Directors are
responsible upon which the forecast is based are:

- sales and gross margin (sales less direct cost of sales) assumptions:
   - HI-TEC Sports UK Limited - sales of £15,253,000 at gross margin of 29%;
   - HI-TEC Sports USA Inc. - sales of US$20,539,000 at gross margin of 37%;
   - HI-TEC Sports International Limited - sales of US$8,943,000 at gross     
     margin of 27%;
   - HI-TEC Sports SA (Pty) Limited - sales of SAR54,672,000 at gross margin  
     of 33%; and
- there will be no material change in the present management, control or
accounting policies of the Group.
 
3. Letters

The Directors, who are solely responsible for the profit forecast, have
received the following letters in connection therewith:

The Directors
HI-TEC Sports Plc
HI-TEC House
Aviation Way
Southend-on-Sea
Essex
SS2 6GH

The Directors
Old Mutual Securities Limited
30 Lombard Street
London
EC3V 9EN

14 September 2000

Dear Sirs

We have reviewed the accounting policies and calculations used in preparing
the profit forecast for HI-TEC Sports Plc ('HI-TEC' or 'the Company') and its
subsidiaries (together 'the Group') for the 52 week period ending 31 December
2000 ('the profit forecast'), for which the directors of HI-TEC are solely
responsible, set out in Appendix IV to the announcement of the offer issued by
Arthur Andersen Corporate Finance on behalf of Sunningdale Corporation dated
14 September 2000 ('the announcement').  The profit forecast is based on the
unaudited interim results for the six months ended 30 June 2000, the unaudited
management accounts for the 2 months ended 31 August 2000, and a forecast for
the 4 months ending 31 December 2000.

We conducted our work in accordance with the Statements of Investment Circular
Reporting Standards issued by the Auditing Practices Board in the United
Kingdom.

In our opinion, the profit forecast, so far as the accounting policies and
calculations are concerned, has been properly compiled on the bases and
assumptions adopted by the directors of the company set out in Appendix IV to
the announcement and has been prepared on a basis consistent with the
accounting policies normally adopted by the Group.

Yours faithfully




Deloitte & Touche




The Directors 
HI-TEC Sports Plc
HI-TEC House
Aviation Way
Southend-on-Sea
Essex SS2 6GH

14 September 2000

Dear Sirs

HI-TEC Sports Plc

We refer to the forecast of consolidated profit before taxation of the Group
for the 52 week period ending 31 December 2000 (the 'profit forecast'), set
out in Appendix IV to the announcement dated 14 September 2000 issued in
relation to the offer by Arthur Andersen Corporate Finance on behalf of
Sunningdale Corporation (the 'Announcement').  Terms used in this letter have
the same meanings as in the Announcement.

We have discussed the profit forecast, together with the bases and assumptions
on which it is made, with you and Deloitte & Touche.  We have also considered
the letter from Deloitte & Touche dated 14 September 2000 addressed to you and
us regarding the accounting policies and calculations on which the profit
forecast is based.

On the basis of these discussions and having regard to the letter from
Deloitte & Touche, we consider that the profit forecast, for which you as
Directors are solely responsible, has been made with due care and
consideration.

Yours faithfully



For and on behalf of
Old Mutual Securities Limited


               

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