Capitaltech PLC
12 February 2001
Convertible shares of 20p each.
CapitalTech's Convertible Shares of 20p each nominal value were distributed by
way of a bonus issue to Ordinary Shareholders on the register as at 31st May
2000, and were intended to retain for these shareholders all increase in value
of then existing high tech investments between 2 February 2000 (or, if
acquired later but before 31st May 2000, the date of acquisition) and 31st May
2001 (the Conversion Date).
As could be expected in the light of the intervening business and market
conditions for young high tech companies, the directors do not now consider
that there is a realistic prospect of any material net increase in value of
such investments by the Conversion Date, and it is likely that the Convertible
Shares may have immaterial value on which conversion will be based on that
date.
Conversely, the Group's Ordinary Shares of 2p each nominal value are thus not
likely to suffer material dilution at the Conversion Date. Increases in value
of these investments after the Conversion Date accrue to all Ordinary
Shareholders.
12 February 2001
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