RNS
05-Mar-2008 - [Stock Exchange Announcements]
SCHEME OF ARRANGEMENT BECOMES EFFECTIVE On 21 December 2007, the Boards of NIS Acquisitions Limited and Northgate Information Solutions plc announced the terms of a recommended acquisition of Northgate at a price of 95 pence in cash for each Northgate Share, valuing the entire issued and to be issued share capital of Northgate at approximately £593 million.
Northgate and NIS Acquisitions are pleased to announce that the Scheme of Arrangement to effect the acquisition has now become effective in accordance with its terms.
It is intended that the listing of the Northgate Shares on the Official List maintained by the UK Listing Authority and their trading on the London Stock Exchange’s main market for listed securities will be cancelled with effect from 8.00am on 7 March 2007. Northgate Shares were suspended from listing and dealings on the London Stock Exchange at 5 pm on 4 March 2008.
Settlement of the consideration payable by NIS Acquisitions under the Scheme is expected to be effected on or prior to 19 March 2008.
Terms defined in the Scheme Document dated 17 January 2008 have the same meaning in this announcement. All references in this announcement to times are to London time.
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