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Worldlink Group Plc (WGP)

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Friday 17 February, 2012

Worldlink Group Plc

Rule 2.10 Announcement

RNS Number : 6726X
Worldlink Group Plc
17 February 2012
 

Worldlink Group plc

 

("Worldlink" or "the Company")

 

UPDATE Re: RULE 2.10 ANNOUNCEMENT

 

 

17 February 2012

 

Worldlink refers to its announcement on 6th February issued pursuant to Rule 2.10 of the City Code on Takeovers and Mergers ("the Code"),

 

The Company confirms that at the date of this announcement, it has 22,849,489 Ordinary Shares of 1p each in issue and admitted to trading on the London Stock Exchange under the UK ISIN code GB00B3P21X12.

 

In addition the Company has 80,559 Class A Warrants in issue each being exercisable at any time up to 31st December 2014 at 168.75p per Ordinary Share together with 80,559 Class B Warrants in issue each being exercisable at any time up to 31st December 2014 at 225p per Ordinary Share.

 

The Company has also issued a 5% Convertible Loan Note in units of £5,000. There is currently £145,000 outstanding under this Loan Note.

 

The Company has also issued a 7% Convertible Loan Note which is convertible at any time prior to 30th October 2014. The current amount outstanding is £1,672,395.

 

If any offer is to be forthcoming then it is likely to be for cash although there can be no certainty that any offer will be made for the Company.

 

This announcement is available on the Company's website (www.worldlink-data.com).

 

Disclosure requirements of the Code:

 

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company must make an Opening Position Disclosure following the commencement of the offer period. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of the offeree company. An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period. Relevant persons who deal in the relevant securities of the offeree company prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

 

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of the offeree company, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

 

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company, they will be deemed to be a single person for the purpose of Rule 8.3.

 

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

 

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at http://www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 20 7638 0129.

The Directors of Worldlink accept responsibility for this announcement.

For more information please contact:

Neil Riches                                                                               01737 221 078

Managing Director

Worldlink Group plc

David Papworth                                                                       0207 101 7676

City & Merchant Limited                                                                     

Mike Wort/Anna Dunphy                                                         0207 556 1063/4

De Facto Financial

 

 

Notes to Editors

Worldlink is one of the UK's leading real-time mobile applications companies with patented technology that allows information held on the mobile device to be updated automatically without the need for a manual refresh. Information is delivered via a mobile telecommunications network in real time, whilst intelligently minimising the bandwidth required to transmit the data.  The technology is patent protected in the US and UK and is patent pending in Europe.

Worldlink has already licensed its patents to leading institutions in the financial and technology sectors and is furthering this process in the UK, Europe, and the US, where partnerships have already been put into place.


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