TTS Total Systems

 

TIDMTTS 
 
RNS Number : 3406O 
Total Systems PLC 
28 June 2010 
 

 
 
Total Systems plc (the "Company") 
28 June 2010 
Result of the Offer & Buyback 
 
On 13 May 2010, the Company sent a circular to its shareholders (the 'Circular') 
with proposals for the cancellation of admission of the Company's Ordinary 
Shares to the Official List and to trading on the Main Market of the London 
Stock Exchange, an offer by Brewin Dolphin to Participating Shareholders to 
purchase up to 2,331,514 Ordinary Shares (the 'Offer') and a buy-back by the 
Company of the Ordinary Shares purchased by Brewin Dolphin pursuant to the Offer 
('Buyback'). 
 
The Company is pleased to announce the result of the Offer, which closed at 1.00 
pm on 25 June 2010. 
 
Acceptances were received for a total of 1,362,462, Ordinary Shares, 
representing approximately 13.0 per cent. of the issued Ordinary Share capital 
and approximately 58.4 per cent. of the maximum number of Ordinary Shares that 
Brewin Dolphin offered to purchase under the Offer. 
 
The Offer is expected to be implemented on 29 June 2010 by Brewin Dolphin 
purchasing the Ordinary Shares for which it has received valid acceptances as 
principal. Brewin Dolphin will then sell these Ordinary Shares (or otherwise a 
corresponding number of Ordinary Shares) to the Company as a market purchase 
pursuant to the terms of the Repurchase Agreement. 
 
The CREST accounts of Shareholders who held their shares in uncertificated form 
are expected to be credited with the Offer proceeds on 2 July 2010 and cheques, 
with balance share certificates as appropriate, are expected to be despatched to 
Shareholders who held their shares in certificated form on the same day. 
 
Ordinary Shares purchased under the Offer (or otherwise a corresponding number 
of Ordinary Shares) and the 85,000 Treasury shares currently held by the Company 
will be cancelled on completion of the Offer and the Buyback and the number of 
Ordinary Shares in issue will be 9,072,091. 
 
As previously notified, cancellation of admission of the Company's Ordinary 
Shares to the Official List and to trading on the Main Market of the London 
Stock Exchange is expected to occur with effect from 8.00 a.m. on 6 July 2010. 
 
Definitions used in the Circular apply in this announcement unless the context 
requires otherwise. 
 
For further information, please contact: 
 
Terence Bourne - Chairman 
Granville Harris - Finance Director 
Total Systems plc 
020 7294 4888 
 
Mark Brady / Matthew Cheetham 
Brewin Dolphin 
 0845 213 4729 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCBBGDLCBDBGGI 
 

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