VTI Virotec Intl

    RNS Number : 4045U
  HydroDec Group plc
  14 May 2008
   





    HYDRODEC GROUP PLC 
    ("Hydrodec" or the "Company")


    Posting of Shareholder Circular


    Hydrodec originally announced on 4 April 2008 its proposed offer to acquire the entire issued share capital of Virotec International plc
("Virotec") (the "Acquisition"). On 7 May 2008, Hydrodec and Virotec announced that the Hydrodec Independent Directors and the Virotec
Independent Directors had reached agreement on the terms of the recommended acquisition whereby Hydrodec will acquire, for shares and cash,
the entire issued and to be issued ordinary share capital of Virotec, to be effected by means of a scheme of arrangement under sections 895
to 901 of the Companies Act 2006 (the "Scheme").

    The Directors of Hydrodec note the announcement today by Virotec that the Scheme Document, which sets out, amongst other things, the
full terms and conditions of the Scheme and an explanatory statement, together with the action to be taken by Virotec shareholders, is being
posted to Virotec shareholders today. Subject to the satisfaction or waiver of the conditions of the Scheme, it is currently expected that
the Scheme will become effective on 25 June 2008.

    The Directors of Hydrodec announce that a circular containing further information on the Acquisition, the Scheme and the Disposal and a
notice convening a general meeting of Hydrodec to be held on 6 June 2008 (the "General Meeting") at which resolutions will be proposed in
order to enable Hydrodec to complete the Acquisition, has been posted to Hydrodec shareholders and will shortly be made available for
viewing on the Company's website (www.hydrodec.com).

    The General Meeting is to be held at 10.00 a.m. on 6 June 2008 at 80 Cannon Street, London EC4 6HL. It is currently expected that the
Scheme will become effective on 25 June 2008. 

    Capitalised terms used, but not defined, in this announcement have the same meanings as given to them in the announcement of 7 May.  


    Enquiries


    Hydrodec Group plc
    John Gunn, Chairman
    Tel: +44 (0) 20 7621 5770

    Ludgate Investments Limited
    Charles Sebag-Montefiore
    Robert Petch 
    Tel: +44 (0) 20 7621 5770

    Numis Securities Limited
    Anthony Richardson 
    Nick Westlake
    Tel: +44 (0) 20 7260 1000



    Numis Securities Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Hydrodec and
no-one else in connection with the Acquisition and will not be responsible to anyone other than Hydrodec for providing the protections
afforded to customers of Numis Securities Limited or for providing advice in relation to the Acquisition or any other matter referred to
herein.  

    Ludgate Investments Limited, which is regulated in the United Kingdom by the Financial Services Authority, is acting for Hydrodec and
no-one else in connection with the Acquisition and will not be responsible to anyone other than Hydrodec for providing the protections
afforded to customers of Ludgate Investments Limited or for providing advice in relation to the Acquisition or any other matter referred to
herein.  


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