HTH Hartest Hldgs.

 

TIDMEKT TIDMHTH 
 
RNS Number : 6866S 
Elektron PLC 
15 September 2010 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR 
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A 
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION 
 
15 September 2010 
                                  ELEKTRON PLC 
                          ("Elektron" or the "Company") 
 
                          Offer Update: Close of Offer 
 
On 30 July 2010 Elektron announced that it had increased its holding of shares 
in Hartest Holdings Plc ("Hartest") to 4,570,031 Hartest Shares representing 
approximately 53.1 per cent. of the voting rights in Hartest. 
 
As required under Rule 9 of the Code, on 24 August 2010 Elektron made a 
mandatory offer for the Hartest Shares not already held by Elektron at a price 
of 90 pence per Hartest Share in cash, being the highest price paid for Hartest 
Shares by Elektron in the 12 months prior to 24 August 2010. 
 
The Offer closed at 1.00pm on 14 September 2010 (the "Closing Time"). The Offer 
was unconditional from the outset. As stated in the Offer Document, the Offer 
will not remain open for acceptance following the Closing Time. Elektron 
announces that, as at the Closing Time, Elektron had received valid acceptances 
of the Offer for Hartest in respect of a total of 3,916,559 Hartest Shares, 
representing approximately 44.28 per cent. of Hartest's issued ordinary share 
capital. Combined with the 4,570,031 Hartest Shares held by Elektron before the 
Offer Period, Elektron owns or has received valid acceptances in respect of a 
total of 8,486,590 Hartest Shares, representing approximately 95.94 per cent. of 
Hartest's issued ordinary share capital. 
 
None of the acceptances were received from persons acting in concert with 
Elektron or were in respect of Hartest Shares which were subject to an 
irrevocable commitment or a letter of intent procured by Elektron or any person 
acting in concert with Elektron (no such irrevocable commitment or letter of 
intent having been procured). 
 
Save as disclosed in the Offer Document, neither Elektron nor any persons acting 
in concert with it held any Hartest Shares or rights over any Hartest Shares 
prior to the Offer Period and neither Elektron nor persons acting in concert 
with Elektron have acquired or agreed to acquire any Hartest Shares (or rights 
over any Hartest Shares) since the commencement of the Offer Period other than 
pursuant to valid acceptances of the Offer. 
 
Neither Elektron or any person acting in concert with Elektron has any short 
position (whether conditional or absolute and whether in the money or otherwise) 
in respect of Hartest Shares, including any short position under a derivative, 
any agreement to sell or any delivery obligation or right to require another 
person to purchase or take delivery. 
 
Neither Elektron, nor any person acting in concert with Elektron has any 
outstanding irrevocable commitment or letter of intent in relation to Hartest 
Shares and neither Elektron, nor any person acting in concert with Elektron, has 
borrowed or lent any relevant securities of Hartest. 
 
Settlement of the consideration due under the Offer in respect of valid 
acceptances which have been received and are valid and complete in all respects 
will be dispatched on or before 28 September 2010. 
 
Elektron has received valid acceptances in respect of more than 90 per cent. in 
nominal value of the Hartest Shares to which the Offer relates. Therefore, 
Elektron has resolved to exercise its rights pursuant to the provisions of Part 
28 of the Companies Act 2006 to compulsorily acquire all remaining Hartest 
Shares in respect of which acceptances have not been received prior to closing 
of the Offer. Elektron will announce the commencement of the compulsory 
acquisition procedure in due course. 
 
Capitalised terms used but not defined in this Announcement shall have the 
meaning given to them in the Offer Document. 
 
In accordance with Rule 19.11 of the Code, a copy of this Announcement will be 
published, subject to certain restrictions relating to persons resident in any 
Restricted Jurisdiction, on Elektron's website at www.elektronplc.com by no 
later than 12 noon on 16 September 2010. 
 
For further information please contact: 
+--------------------------------+-------------------+ 
| Elektron                       | Tel. +44 (0) 1708 | 
|                                | 336 300           | 
+--------------------------------+-------------------+ 
| Keith Daley, Chairman          |                   | 
+--------------------------------+-------------------+ 
|                                |                   | 
+--------------------------------+-------------------+ 
| finnCap                        | Tel. +44 (0)20    | 
|                                | 7600 1658         | 
+--------------------------------+-------------------+ 
| Ed Frisby / Rose Herbert -     |                   | 
| Corporate Finance              |                   | 
+--------------------------------+-------------------+ 
| Simon Starr - Corporate        |                   | 
| Broking                        |                   | 
+--------------------------------+-------------------+ 
|                                |                   | 
+--------------------------------+-------------------+ 
| Threadneedle Communications    | Tel. +44 (0)20    | 
|                                | 7653 9850         | 
+--------------------------------+-------------------+ 
| Josh Royston                   |                   | 
+--------------------------------+-------------------+ 
| Hilary Millar                  |                   | 
+--------------------------------+-------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 OUPLIMFTMBTBBTM 
 

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