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West 175 Media Grp (WEP)

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Friday 04 August, 2006

West 175 Media Grp

Reverse Merger

West 175 Media Group Inc
04 August 2006


Not for release, publication or distribution in whole or in part in or into
Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa,
or the United States, or any other country outside the United Kingdom where that
may lead to a breach of any legal or regulatory requirements.

4 August 2006
West 175 Media Group Inc.
('West' or 'the Company')

Reverse Merger to form Hightex Group plc

West 175 Media Group Inc. is pleased to announce that the Company has entered
into a conditional agreement for a reverse merger, pursuant to which the
shareholders of the Company will exchange their existing shares in the Company
for shares in Hightex Group plc ('Hightex'), a newly incorporated holding
company.  Hightex has in turn conditionally agreed to acquire HighTex
International (HTI) AG and its subsidiaries ('HTI Group ') and SolarNext AG
('SolarNext').  On Completion of these transactions, the Company will cease to
exist and the entire share capital of Hightex will be admitted to trading on
AIM.

The Transactions are conditional, inter alia, on the passing by West
Shareholders of certain resolutions to be put to them at a Special Meeting of
the Company which is being convened for 4 September 2006.  The Transactions are
also conditional on the existing shareholders and loan note holders of HTI Group
accepting the offers made to them by Hightex

It is expected that the Transactions will be completed on or around 6 September
2006.

Trading in the Company's shares on AIM was suspended on 31 July 2006 at the
Company's request pending the announcement of the Transactions.  The suspension
will be lifted with effect from this announcement.

Highlights

  • Hightex is a newly incorporated English public limited company established
    for the purposes of effecting a reverse merger between West, HTI Group and
    SolarNext;

  • West will merge with a wholly owned subsidiary of Hightex, Hightex Americas 
    LLC, under the laws of the States of California and Delaware.  Upon the 
    Merger becoming effective, West Shareholders will be allotted new Ordinary 
    Shares in Hightex, and the Company will be merged into Hightex Americas LLC 
    and will cease to exist as a separate legal entity;

  • Separately, Hightex has offered to acquire HTI Group and SolarNext in 
    exchange for the allotment of new Hightex Shares. Each of these Acquisitions 
    is conditional on the West Merger and Admission becoming effective;

  • Hightex intends to apply for admission of its shares to trading on AIM.  
    Assuming the West Merger becomes effective and that each of the Acquisitions 
    is completed in accordance with its terms, it is expected that such 
    Admission will become effective on 6 September 2006;

  • To fund transaction costs and ongoing working capital of Hightex, Ludgate
    Investments Limited has conditionally placed 15,000,000 new Hightex Shares
    with institutional and other investors at a placing price of 10 pence per
    share (the 'Hightex Placing').  The Hightex Placing is
    conditional, inter alia, on completion of the West Merger, the Acquisitions
    and Admission;

  • Pursuant to the Hightex Placing warrants over 7,800,000 Hightex shares
    have been issued to placees at a subscription price of 11p per Hightex Share
    and exercisable in the period expiring on the second anniversary of
    Admission.

  • In April 2006, West conditionally raised a further £1,000,000 by a
    conditional placing of 100,000,000 new West Shares at 1 penny per share (the
    'April Placing'). The April Placing was conditional on West
    announcing a reverse acquisition before 2 September 2006. The April Placing
    becomes unconditional as a result of this announcement and therefore placees
    under the April 2006 Placing will be entitled to participate in the West
    Merger.  An application will be made for the shares issued subject to the
    April Placing to be admitted to trading on AIM.  The shares will rank pari
    passu with existing West Shares and dealings are expected to commence on 10
    August 2006.  The enlarged issued share capital of West following this
    allotment will be 391,957,470 Ordinary Shares.

  • Assuming all of the new Hightex Shares to be allotted pursuant to the West
    Merger and the Acquisitions are allotted on completion of the transactions
    and assuming full take-up of the proposal put to holders of options over and
    warrants to subscribe for West Shares, it is expected that on Admission,
    current West Shareholders will own 34 per cent. of the enlarged ordinary
    share capital of Hightex, the current owners of HTI Group will own
    approximately 54 per cent., and the placees acquiring shares pursuant to the
    Hightex Placing will own approximately 12 per cent..

HTI and SolarNext

  • HighTex International (HTI) AG ('HTI') is one of the world's leading 
    designers, producers and installers of polymer membrane solutions to the 
    building and construction industries. It currently operates in Switzerland, 
    Germany, UK, Poland, Thailand and the United States.

  • Projects that HTI (or in the case of projects before its formation, its
    management) has completed include: the passenger concourses at the New
    Bangkok International Airport, Thailand (2006); the new Grandstand at Royal
    Ascot Racecourse, UK (2006); the Olympic Stadium in Berlin, Germany for the
    2006 World Cup (2004); the Pusan Stadium in South Korea (2002); the membrane
    facade at the Burj Al Arab Hotel in Dubai, U.A.E (1997); and the Mound Stand
    at Lord's Cricket Ground, UK (1988)

  • SolarNext is chiefly focused on the development of applications in the
    generation of: clean energy; solar cooling; the prevention of heat from
    entering homes, offices and other structures; and the desalination of water.

  • Hightex envisages that, over time, the polymer membrane structures
    business of HTI can be combined with the solar business of SolarNext to form
    a third business, the Intelligent Buildings Division, focused particularly
    on buildings such as offices, hotels, visitor centres and airports, which
    can use products derived both from SolarNext as well as the polymer
    membranes currently supplied by HTI.

John Gunn, Director of West 175 Media Group Inc, commented:

'This good news follows a protracted period of consolidation and repair, which
began in June 2002 when the new board of West was appointed. Your directors
believe that Hightex offers shareholders in West the opportunity to participate
in a forward-looking business offering environmentally sound solutions to
architects and builders.  Its impressive track record in the construction
industry and the exposure that SolarNext will provide to the increasingly
important area of energy efficiency underpin its growth prospects.'



For further information:

West 175 Media Group Inc.                                  Tel: 020 7236 0973
John Gunn, Director
Charles Sebag-Montefiore

Hightex Group plc
Charles DesForges, Chairman                                Tel: 07799 626 238
Klaus-Michael Koch, Chief Executive Officer                Tel: +49 172 895 1400

Teather & Greenwood Ltd                                    Tel: 020 7426 9000
Jeff Keating
Sindre Ottesen
Robert Naylor

M:Communications                                           Tel: 020 7153 1530
Patrick d'Ancona
Eleanor Williamson



This summary should be read in conjunction with the full text of this
announcement set out below.

Certain definitions and terms apply throughout this announcement and your
attention is drawn to the table at the end of this announcement where these
definitions and terms are set out in full.

Teather & Greenwood Limited, which is a member of the London Stock Exchange plc
and is authorised and regulated in the United Kingdom by the Financial Services
Authority, is acting exclusively for the Company and no one else in connection
with the West Merger and as nominated adviser and broker to Hightex (for the
purpose of the AIM Rules) in connection with the Admission, and will not be
responsible for providing the protections afforded to customers of Teather &
Greenwood Limited nor for providing advice in relation to the contents of this
announcement or any matter, transaction or arrangement referred to in it.

The directors of West accept individual and collective responsibility for the
information contained in this announcement and for the Company's
compliance with the AIM Rules. To the best of the knowledge and belief of the
directors and the Company (who have taken all reasonable care to ensure that
such is the case), the information contained in this announcement for which they
are responsible is in accordance with the facts and does not omit anything
likely to affect the import of such information.

This announcement does not constitute, or form part of, an offer or an
invitation to purchase any securities.




Not for release, publication or distribution in whole or in part in or into
Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa,
or the United States, or any other country outside the United Kingdom where that
may lead to a breach of any legal or regulatory requirements.

4 August 2006
West 175 Media Group Inc.
('West' or 'the Company')


                    Reverse Merger to form Hightex Group plc

West 175 Media Group Inc. is pleased to announce that the Company has entered
into a conditional agreement for a reverse merger, pursuant to which the
shareholders of the Company will exchange their existing shares in the Company
for shares in Hightex Group plc ('Hightex'), a newly incorporated holding
company.  Hightex has in turn conditionally agreed to acquire HighTex
International (HTI) AG ('HTI Group') and SolarNext AG ('SolarNext').  On
completion of these Transactions, the Company will cease to exist and the entire
issued share capital of Hightex will be admitted to trading on AIM.


1.   Introduction - Background to and reasons for the proposed Transactions

The Company currently has no trading business or investments, following a
protracted period of consolidation and repair, which began in June 2002 when the
new board was appointed. All the formerly owned loss-making businesses in the
United Kingdom, United States and New Zealand were closed or sold with effect
from 31 March 2003. Shortly thereafter, a company voluntary arrangement was
completed and dealings in the West Shares resumed on AIM at the end of July
2004, with the Company effectively by then an investment company.   The
directors of West have since this time, been actively looking for businesses to
reverse into West that presented an attractive investment opportunity to West
Shareholders.

After what has turned out to be a more prolonged search than originally
anticipated, a target that fulfills these criteria has now been identified.  The
directors of West believe that Hightex, HTI and SolarNext together offer
shareholders in West the opportunity to participate in an interesting business
which offers environmentally sound solutions to architects and builders and
which possesses good growth prospects.

     
2.   The West Merger

The West Merger is to be implemented by means of a statutory merger under the
laws of the State of California and the State of Delaware between West and a
wholly owned subsidiary of Hightex, Hightex Americas LLC.  Under the terms of
the West Merger, all West Shares will be cancelled in consideration for the
issue by Hightex of new Hightex Shares to the former West Shareholders.  Under
the terms of the Merger Agreement, each West Share in issue on the effective
date of the West Merger will be converted into the right to receive 0.10 of a
new Hightex Share. A West Shareholder who owns 100 West Shares, will therefore
receive 10 new Hightex Shares and so in proportion for any other number of West
Shares held. Fractions of new Hightex Shares will not be issued.

Hightex intends to apply for admission of its issued and to be issued shares to
trading on AIM.  It is anticipated that such an Admission will take effect on 6
September 2006.  Completion of the West Merger is conditional, inter alia, on
the approval of a simple majority of holders of the outstanding West Shares
entitled to vote on the proposal at the West Special Meeting, West having cash
in its bank account of not less than £1.9 million at Completion, and each of the
Hightex Placing, the HTI Acquisition and the SolarNext Acquisition having become
unconditional save only for any conditions relating to Admission.

Further information on the West Merger will be set out in a circular to
shareholders and in an admission document being published by Hightex.  It is
expected that these documents will be posted to West Shareholders later today.


3.   Information on HTI and SolarNext

3.1. HTI

HTI designs, produces and installs polymer membrane technology used by
architects and structural engineers. Polymer membrane structures are used by
architects and structural engineers in the building and construction industries
because they are flexible and lightweight yet durable and proof against sunlight
and weather. Because of these properties, architects and structural engineers
are able to design buildings and other structures that not only look attractive
but are pleasant and functional because of the transparent and translucent
nature of these materials.

Projects that HTI (or in the case of projects before its formation, its
management) has completed include: the Mound Stand at Lord's Cricket Ground, UK
(1988); the membrane facade at the Burj Al Arab Hotel in Dubai, U.A.E (1997);
the Pusan Stadium in South Korea (2002); the Olympic Stadium in Berlin, Germany
for the 2006 World Cup (2004); the new Grandstand at Royal Ascot Racecourse, UK
(2006); and the passenger concourses at the New Bangkok International Airport,
Thailand (2006).

Further information on HTI's business and products will be set out in Hightex's
admission document which is expected to be posted to West Shareholders later
today.

3.2. SolarNext

It is widely recognised that fossil fuels are a limited resource. Hightex
believes that this scarcity, combined with growing awareness of the issues of
pollution, greenhouse gases and other negative effects associated with fossil
fuel combustion will increasingly lead industry, business and the consumer to
turn to alternative energy sources as a viable replacement. Solar energy is the
earth's primary and ultimate renewable energy source. The directors of
Hightex feel that with HTI's existing know-how in membrane technology
and the commercialisation of membranes, particularly in a construction
environment, there should be opportunities where it could combine membrane
technology with solar energy related products. SolarNext was therefore
established in 2000 to exploit these opportunities.

SolarNext will be chiefly focussed on applications in the generation of: energy;
solar cooling; the prevention of heat from entering homes, offices and other
structures; and the purification of water.

Further information on SolarNext's business and products will be set out
in Hightex's admission document which is expected to be posted to West
Shareholders later today.

3.3  The Hightex Placing

To fund transaction costs and ongoing working capital of Hightex, Ludgate
Investments Limited has conditionally placed 15,000,000 new Hightex Shares with
institutional and other investors at a placing price of 10 pence per share. The
Hightex Placing is conditional, inter alia, on completion of the West Merger and
the Acquisitions and conditional on Admission.  Pursuant to the Hightex Placing
warrants over 7,800,000 Hightex shares have been issued to placees at a
subscription price of 11p per Hightex Share and exercisable in the period
expiring on the second anniversary of Admission.

Further details of the Hightex Placing will be set out in Hightex's
admission document which is expected to be posted to West Shareholders later
today.


4.   Directors of Hightex

The board of Hightex consists of five directors for whom brief biographies are
set out below.

Dr Charles DesForges (Non-Executive Chairman), aged 65

Charles DesForges is an experienced industrial manager having held senior
management / board positions in several multi-national companies. He has
extensive experience of the creation and management of technology-dependent
businesses which exploit IP through nine years as a director at 3i plc. In
recent years he has been Chairman / Director of several SMEs operating within
the EU and CEO of a multi-national metal mining consortium based in Paris. He
has a 1st class honours degree in applied science and a Ph.D from Cambridge
University. He is past vice-president of the UK Institute of Materials and past
President of TII, Luxembourg, Europe's leading professional technology
transfer organisation.

Dr DesForges entered into an agreement with Hightex on 3 August 2006 to act as
its non-executive Chairman.  The agreement is terminable with 6 months' written
notice by either party.  Director's fees payable under the agreement are £36,000
per annum, plus reimbursement of expenses and £5,000 per annum for each board
committee on which he sits. He is also to receive a signing-on bonus of £12,000
for services provided to Hightex in the capacity of non-executive Director since
April 2006.

Michael Koch (Chief Executive Officer), aged 54

Michael Koch is Chief Executive Officer of Hightex Group plc. He completed his
Law Studies at Munich University in 1975 and in 1977 was issued his certificate
as a German Lawyer. Having worked as a craftsman for his father's membrane
business in his free time since High School, Michael joined his father's 
business full-time in 1978 and, over the next few years, became the most
successful Sales Manager. In 1990 Michael was appointed Managing Director of
Koch Hightex GmbH. From 1986 until 1996 he was Chairman of the German Quality
Association for Membrane Roofing (KDV). In 1995 Michael received the Plunkett
Award from DuPont for the best innovation with Teflon. From 2000 to present he
has been Chairman of SolarNext AG. In 2004 Michael became Managing Director of
Hightex GmbH.

Mr Koch entered into a service agreement with Hightex on 3 August 2006, to act
as its Chief Executive Officer.  The agreement is terminable with 12 months' 
written notice by either party.  The agreement also terminates on normal
retirement age.   Remuneration payable under this agreement and pursuant to
arrangements with other companies in the Enlarged Group is €180,000 per annum,
plus expenses.

Frank Molter (Finance Director), aged 41

Frank Molter joined HTI Group in March 2004 and has been appointed Finance
Director for Hightex Group plc. Previously he held senior posts in the media
industry including Chief Financial Officer of H5B5 Media AG (listed on the
German Neuer Markt), Finance and Human Resources Director of radio NRW GmbH and
was Managing Director of the start-up CALACON GmbH, an accounting services
company. Previously, he worked as consultant at Roland Berger & Partner, the
German strategy consulting company. Frank graduated with an MBA from HEC, Paris,
France.

Mr Molter entered into a service agreement with Hightex on 3 August 2006, to act
as its Finance Director.  The agreement is terminable with 12 months' written
notice by either party.  The agreement also terminates on normal retirement age.
  Remuneration payable under this agreement and pursuant to arrangements with
other companies in the Enlarged Group is €156,000 per annum, plus expenses.

David Walker (Director of Business Development), aged 52

David Walker joined Koch Hightex GmbH in 1991. He was appointed International
Sales Director and based in Germany from 1993 to 1997 and Director of Koch
Membrane Japan Co. Ltd from 1995 to 2000). He was appointed Managing Director of
Hightex Ltd in 2001 and to the Board of Hightex Group plc in July 2006. David
graduated in 1976 with an Honours degree in Physics & Electronics from the
University of Brighton before founding and becoming Technical Director of SERAC
(Solar Engineering Research And Components) from 1977 to 1988, when he became
Managing Director of SERAC until 1991.

Mr Walker entered into a service agreement with Hightex on 3 August 2006, to act
as its Director of Business Development.  The agreement is terminable with 12
months' written notice by either party, subject to a 12 month trial period
during which the time the agreement is terminable with 1 month's written notice
by either party.  The agreement also terminates on normal retirement age.  
Remuneration payable under this agreement and pursuant to arrangements with
other companies in the Enlarged Group is €156,000 per annum, plus expenses.

Charles Sebag-Montefiore FCA (Non-Executive Director), aged 56

Charles Sebag-Montefiore qualified as a Chartered Accountant in 1974 and was
appointed an executive Director of Ludgate Investments Limited, an independent
corporate advisory company, in October 2004. He is also a non-executive Director
of West. He was a partner of Grieveson Grant & Co from 1985 to 1986 and an
executive Director of Kleinwort Benson Securities Ltd (1986-1994), of
Elderstreet Private Equity (1997-1999) and of IDJ Limited (1999-2004). He was a
non-executive Director of Euclidian plc (1994-1999) and of Kiln plc (2001-2006).

Mr Sebag-Montefiore entered into an agreement with Hightex on 3 August 2006 to
act as a non-executive Director of Hightex.  The agreement is terminable with 6
months' written notice by either party.  Director's fees payable under the
agreement are £24,000 per annum, plus reimbursement of expenses and £5,000 per
annum for each board committee on which he sits. He is also to receive a
signing-on bonus of £8,000 for services provided to Hightex in the capacity of
non-executive Director since April 2006.


5.   Financial information on the enlarged Hightex Group

The following financial information for HTI Group and SolarNext, which has been
drawn up on an aggregated basis for illustrative purposes only based on the
financial information contained in the Hightex admission document which is
expected to be posted to West Shareholders later today, should be read in
conjunction with the full text of that admission document.

                                        Year ended                 Year ended                 Year ended
                                  31 December 2003           31 December 2004           31 December 2005
                                             $'000                      $'000                      $'000

Revenues                                    10,676                      9,635                     11,760
Operating Profit                               755                         18                        800
Margin                               7.1 per cent.              0.2 per cent.              6.8 per cent.
Shareholders' Equity                           771                        644                      1,556


Hightex will, following Completion, have a total of 34 full-time and 2 part-time
employees (excluding directors).


6.   The April 2006 Placing and Directors dealings in shares

In April 2006, West entered into conditional placing agreements to raise
£1,000,000 by a placing of 100,000,000 new shares of common stock at 1 penny per
share ('the April Placing'). The April Placing was conditional on West
announcing a reverse acquisition before 2 September 2006. The April Placing
becomes unconditional as a result of this announcement and therefore placees
under the April Placing will be entitled to participate in the West Merger.  The
new West Shares to be allotted pursuant to the April Placing will be allotted
shortly and application will be made for those new West Shares to be admitted to
trading on AIM.  Dealings are expected to commence on 10 August 2006.  The
enlarged issued share capital of West following this allotment will be
391,957,470 Ordinary Shares.

Two directors of West participated in the April Placing, namely John Gunn
(15,000,000 Ordinary Shares) and Charles Sebag-Montefiore (500,000 Ordinary
Shares).  Following this allotment their holdings in the enlarged share capital
will be approximately 13.4 per cent. and 0.5 per cent. respectively.


7.   Outstanding option and warrants

The directors of Hightex have required as a condition of the West Merger that
Hightex does not inherit the significant number of existing options over West
Shares and warrants to subscribe for West Shares currently in issue, as this
would inhibit the ability of Hightex to operate a suitable share incentive
scheme linked to its future for the benefit of all Hightex shareholders. The
directors of West do not believe this to be an unreasonable requirement.

It is therefore proposed that, prior to implementation of the West Merger, most
of the outstanding options and outstanding warrants should be converted into new
West Shares, which will then be converted into a right to receive new Hightex
Shares on the same basis as existing West Shares pursuant to the West Merger.
The proposed basis of conversion of Outstanding Options and Outstanding Warrants
into West Shares differs according to whether the entitlement is ' in-the-money'
or 'out-of-the-money'.

West is writing separately today to holders of outstanding options over and
warrants to subscribe for West Shares with further details of these proposals.
Further information in relation to these proposals will also be contained in the
circular being posted to West Shareholders later today.


8.     Irrevocable undertakings

The Company has received irrevocable undertakings from the directors of West to
vote in favour of the West Merger and the other resolution being proposed at the
West Special Meeting in respect of, in aggregate, 55,909,481 West Shares
representing approximately 14.3 per cent. of the West shares in issue following
the allotment of shares pursuant to the April Placing.


9.     Shareholder Documents - Action to Be Taken

The following documents setting out further details of the Transactions are
expected to be posted to West Shareholders later today:

  • A circular to West Shareholders;
  • An admission document in relation to Hightex;
  • A pink letter of transmittal (equivalent to a form of acceptance) for use
    by West Shareholders in connection with the West Merger;
  • A white proxy card or, if you hold West Shares in the form of depository
    interests, a blue form of direction;
  • A termination notice in respect of depository interests in West Shares, if
    relevant;
  • A copy of the agreement relating to the West Merger; and
  • A copy of Chapter 13 of the California Corporation Code which summarises
    certain important rights that you have as a West Shareholder.

West Shareholders are urged to complete, sign and return the following two forms
as soon as possible:

  • The pink letter of transmittal along with any relevant share certificates;
  • The white proxy card or blue form of direction (whichever is relevant);
    and

For holders of West Shares in the form of depository interests, they should also
input their stock withdrawal message in the usual way in accordance with CREST
procedures, as soon as possible.

As a positive consent is required from West Shareholders to approve the West
Merger and for West Shareholders to receive any Consideration Shares, it is
important for West Shareholders to read all of the posted documentation and
return the documents required, signed, with all information filled out
appropriately as soon as possible.


10.    Expected timetable of principal events:


Record Date for the West Special Meeting                                                    17 August 2006
West Special Meeting                                                                      4 September 2006
Issue by West of new West Shares pursuant to the proposal to holders                      4 September 2006
of outstanding options over, and warrants to subscribe for West Shares
Completion of the West Merger                                                6 September 2006 at 7:59:59am
Admission to trading on AIM of the Hightex Shares                               6 September 2006 at 8:00am
HTI Acquisition and the SolarNext Acquisition unconditional                     6 September 2006 at 8:00am
CREST stock accounts credited in respect of new Hightex Shares                            6 September 2006
allotted on completion (as applicable)
Certificates in respect of new Hightex Shares allotted on completion                     11 September 2006
(as applicable) dispatched week commencing


11.  Admission, settlement and dealings

Application will be made to the London Stock Exchange for the entire issued and
to be issued share capital of Hightex (including the new Hightex Shares to be
issued pursuant to the West Merger and the Acquisitions) to be admitted to
trading on AIM. It is expected that Admission will become effective and that
dealings on AIM in those Hightex Shares which are allotted on completion of the
Transactions will commence on 6 September 2006. The Hightex Shares are in
registered form and are capable of settlement through CREST. Hightex Shares will
only be issued to holders of West Shares if, prior to Admission, they have
validly returned letters of transmittal to the registrar and either surrendered
their West Share certificates or entered a stock withdrawal message on CREST
(whichever is relevant). Further Consideration Shares will be issued at 14 day
intervals after Admission to the extent that letters of transmittal are returned
by the holders of West Shares and West Share certificates are surrendered after
Admission.


Definitions

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

'Admission'                        the admission of the entire issued and to be issued ordinary share
                                   capital of Hightex (including the Consideration Shares and the Placing
                                   Shares) to trading on AIM becoming effective in accordance with the AIM
                                   Rules

'Completion'                       completion of the Merger, the Hightex Acquisition, the SolarNext
                                   Acquisition (and the Placing), or any one or combination of them, as
                                   the context requires

'Consideration Shares'             the 64,454,864 Ordinary Shares to be issued as consideration pursuant
                                   to the West Merger, the HTI Acquisition and the SolarNext Acquisition

'Enlarged Group'                   Hightex and its subsidiary undertakings following Completion

'HTI'                              Hightex International (HTI) AG, a company incorporated in Switzerland,
                                   with registered office at Espenstrasse 7, CH-9220, Bischofszell,
                                   Switzerland whose registered number is CH- 440.3.018.281-5

'HTI Acquisition'                  the proposed acquisition by Hightex of the entire issued share capital
                                   of HTI

'Hightex Placing'                  the proposed placing of 15,000,000 Ordinary Shares by Ludgate
                                   Investments Limited at the Placing Price, further details of which will
                                   be set out in the admission document expected to be published by
                                   Hightex later today

'Hightex Shares'                   ordinary shares of 1p each in the capital of Hightex
or 'Ordinary Shares'

'Placing Price'                    10p per Ordinary Share

'Placing Shares'                   the 15,000,000 Ordinary Shares to be issued pursuant to the Hightex
                                   Placing

'SolarNext Acquisition'            the proposed acquisition by Hightex of the entire issued share capital
                                   of SolarNext

'Transactions'                     the HTI Acquisition and the SolarNext Acquisition, the Placing and the
                                   West Merger or any of them as the context requires

'West Merger'                      the proposed merger under the laws of the State of California and the
                                   state of Delaware between Hightex Americas LLC (a subsidiary of
                                   Hightex) and West, details of which will be set out in the circular to
                                   West Shareholders expected to be published by the Company later today

'West Shareholders'                Holders of West Shares

'West Shares'                      common stock of no par value in the capital of West

'West Special Meeting'             the special meeting of West which is being convened for 4 September
                                   2006 at which West Shareholders will be asked to approve the West
                                   Merger and to approve an increase in West's authorised share
                                   capital for the purposes of implementing the proposals to the holders
                                   of options and warrants


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