Information  X 
Enter a valid email address

Newmark Security PLC (NWT)

  Print   

Thursday 19 September, 2002

Newmark Security PLC

Delisting and re-admission

Newmark Security PLC
19 September 2002



NEWMARK SECURITY PLC ('NEWMARK')

Completion of acquistion of Grosvenor Technology Limited, allotment of shares,
delisting and admission of enlarged share capital to the Alternative Investment
Market of the London Stock Exchange plc ('AIM')



The Board is pleased to announce that Newmark has today completed the
acquisition of Grosvenor Technology Limited ('Grosvenor') following the all
share offer by Newmark for Vema N.V. (the 'Offer') being declared unconditional
on 17 September 2002.



The Board is also pleased to announce that 71,644,829 ordinary shares of 1 pence
each were today allotted to Vema N.V. ('Vema') global depository receipt ('GDR')
holders, who have accepted the Offer, on the basis of 1.5 new Newmark shares for
every GDR held.



The acquisition of Grosvenor and the acquisition of the GDRs representing the
Vema shares that Newmark does not already own, represent a reverse takeover as
defined by the AIM rules.  Newmark's existing 121,208,952 shares will be
de-listed from AIM at the close of trading today.  Application has been made for
the admission of the enlarged share capital of 192,853,781 ordinary shares to
trading on AIM at 8.00 am on Friday 20 September 2002.



The Offer will remain open for acceptance until further notice.  As at 3.00 pm
on 17 September 2002, valid acceptances had been received in respect of
47,763,220 GDRs, representing, in aggregate, approximately 66.3 per cent. of the
Vema shares not already owned by Newmark.



The interests of the Newmark directors in the shares of the company (assuming
full acceptance of the Offer) are as follows:


                                              Number of ordinary shares  Percentage of issued share capital
                                                                                 (assuming full acceptance)
Maurice Dwek                                                 15,075,000                                6.6%
Sasson Rajwan                                                         -                                   -
Brian Beecraft                                                        -                                   -
Alexander Reid                                               28,108,238                               12.3%
Michel Rapoport                                               9,555,000                                4.2%








                      This information is provided by RNS
            The company news service from the London Stock Exchange            DCXDBGGDC                                                                                                                                                                                                                                                      

a d v e r t i s e m e n t