SRV Sirvis

    RNS Number : 3492E
  SiRViS IT Holdings Limited
  26 September 2008
   

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, OR INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO

    26 September 2008


    SIRVIS IT HOLDINGS LIMITED

    Recommended Cash Offer
    made by
    Strand Partners Limited on behalf of SiRViS IT Holdings Limited
    for the whole of the issued and to be issued
    ordinary share capital of SiRViS IT plc

    COMPULSORY ACQUISITION OF OUTSTANDING SIRVIS IT SHARES


    On 22 August 2008, Strand Partners Limited, on behalf of SiRViS IT Holdings, posted an offer document (the "Offer Document") to SiRViS
IT Shareholders in respect of the offer of 160 pence in cash for each SiRViS IT Share (the "Offer"). 

    The Offer was declared unconditional in all respects on 15 September 2008. SiRViS IT Holdings also then confirmed that it intended to
exercise its rights pursuant to the provisions of section 979 of the Companies Act 2006 (the "Act") to acquire compulsorily the remaining
SiRViS IT Shares, in respect of which the Offer has not been accepted, on the same terms as the Offer, as it had received acceptances in
respect of more than 90 per cent. in nominal value of the SiRViS IT Shares to which the Offer relates. 

    Accordingly, the Board of SiRViS IT Holdings announces that it has implemented the compulsory acquisition procedure under Chapter 3 of
Part 28 of the Act and has today posted formal notices under sections 979 and 980 of the Act to SiRViS IT Shareholders who have not yet
accepted the Offer. The transfer of SiRViS IT Shares in accordance with the compulsory acquisition notices will take place on 7 November
2008, being six weeks from the date of the compulsory acquisition notice. 

    The Offer will remain open for acceptance for a further 14 days and will close at 1.00 p.m. (London time) on 10 October 2008. SiRViS IT
Shareholders should be aware that they may still accept the Offer, whilst it remains open for acceptance, rather than wait for their SiRViS
IT Shares to be compulsorily acquired by SiRViS IT Holdings. SiRViS IT Shareholders who wish to accept the Offer, but who have not yet done
so, should either return their completed Forms of Acceptance (and supporting documents) or, if their SiRViS IT Shares are held in CREST,
arrange for their CREST sponsor to send the relevant TTE instruction(s) to Euroclear, in accordance with the procedure set out in the Offer
Document, as soon as possible and, in any event, before 1.00 p.m. (London time) on 10 October 2008. Further copies of the Offer Document and
additional Forms of Acceptance may be obtained by contacting Capita Registrars, Corporate Actions by telephoning 0871 664 0321 or +44 20
8639 3399 (if telephoning from outside the UK).

    If you have lost your Form of Acceptance or have any other queries in connection with the procedure for acceptance of the Offer, you
should contact Capita Registrars at Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TU or by telephone on 0871 664
0321 or +44 20 8639 3399 (if telephoning from outside the UK) between 9.00 a.m. and 5.00 p.m. (London time) Monday to Friday (excluding UK
public holidays). Calls to the Capita Registrars 0871 664 0321 number are charged at 10 pence per minute (including VAT) plus any of your
service provider's network extras. Calls to the Capita Registrars +44 20 8639 3399 number from outside the UK are charged at applicable
international rates. Different charges may apply to calls made from mobile telephones and calls may be recorded and monitored randomly for
security and training purposes.   

    Terms defined in the Offer Document have the same meaning when used in this announcement, unless the context requires otherwise.

    Enquiries:

 SiRViS IT Holdings Limited     Tel: (020) 7747 5678
 Jeremy Brade, Director
 James Agnew, Director

 Strand Partners Limited        Tel: (020) 7409 3494
 (Financial Adviser to NAV LLP
 and SiRViS IT Holdings)
 Stuart Faulkner
 Matthew Chandler
 Victoria Milne-Taylor

    Strand Partners Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting
exclusively for SiRViS IT Holdings and no one else in connection with the Offer and will not be responsible to anyone other than SiRViS IT
Holdings for providing the protections afforded to customers of Strand Partners Limited, or for providing advice in relation to the Offer or
in relation to the contents of this announcement or any other matter or arrangement referred to herein. 

    The Directors of SiRViS IT Holdings accept responsibility for all of the information contained in this announcement. To the best of the
knowledge and belief of the Directors of SiRViS IT Holdings (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 is not intended to and does not constitute, or form any part of, an offer to sell or an invitation to purchase or the
solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities in any jurisdiction
pursuant to the Offer or otherwise. The Offer is being made solely by means of the Offer Document and, in respect of SiRViS IT Shares in
certificated form, the Form of Acceptance. Any acceptance or other response to the Offer should be made only on the basis of the information
contained or referred to in the Offer Document and the Form of Acceptance (if appropriate), which contains the full terms and conditions of
the Offer including details of how it may be accepted.

    This announcement has been prepared for the purposes of complying with English law and the City Code and the information disclosed may
not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions
outside the UK.

    The availability of the Offer to persons who are not resident in the UK may be affected by the laws of the relevant jurisdiction in
which they are located. Persons who are not resident in the United Kingdom, and any person (including, without limitation, custodians,
nominees and trustees) who would or otherwise intend to, or may have a contractual or legal obligation to, forward this announcement and/or
any other documents relating to the Offer to any jurisdiction outside the United Kingdom, should therefore inform themselves about, and
observe, any applicable legal or regulatory requirements of the jurisdiction in which they are resident.

    Unless otherwise determined by SiRViS IT Holdings and permitted by applicable law and regulation, this announcement and the Offer are
not being made, and will not be made, directly or indirectly, in, into or from, or by the use of the mails of, or by any other means
(including, without limitation, electronic mail, facsimile transmission, telex, telephone, internet or other forms of electronic
communication) of interstate or foreign commerce of, or by any facility of a national, state or other securities exchange of, the United
States, Canada, Australia, South Africa or Japan or any other Restricted Jurisdiction and, subject to certain exceptions, the Offer cannot
be accepted by any such use, means, instrumentality or facility or from within the United States, Canada, Australia, South Africa or Japan
or any other Restricted Jurisdiction. Accordingly, copies of this announcement and any other documents relating to the Offer, are not being,
and must not be, directly or indirectly, mailed, distributed, transmitted, forwarded or otherwise sent, in whole or in part, in, into or from the United States, Canada, Australia, South Africa or Japan or
any other Restricted Jurisdiction. Doing so may render invalid any purported acceptance of the Offer. Persons receiving this announcement
(including, without limitation, custodians, nominees and trustees) should observe such restrictions and any applicable legal or regulatory
requirements of their jurisdiction and must not distribute, mail, transmit, forward or send it, into or from the United States, Canada,
Australia, South Africa or Japan or any other Restricted Jurisdiction or use such mails or any such means, instrumentality or facility for
any purpose related to the Offer.

    Further details in relation to Overseas Shareholders are contained in the Offer Document.

    In accordance with normal UK market practice, SiRViS IT Holdings or any person acting on its behalf may from time to time make certain
market or private purchases of, or make arrangements to purchase, directly or indirectly, SiRViS IT Shares other than pursuant to the Offer.
Any information about such purchases will be publicly announced as required by law or regulation in the UK.

    
    

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