SECURITY RESEARCH GROUP PLC
("SRG" or the "Company")
Result of General Meeting and Tender Offer
Further to the announcement of the Tender Offer on 12 December 2012, the Company is pleased to
announce that the special resolution to approve the Tender Offer
was passed at the General Meeting of SRG held today at 10.00 a.m. at the Company's offices at 133 Ebury
Street, London, SW1W 9QU.
SRG is pleased to announce that pursuant to the Tender Offer
which closed at 5.00 p.m. on
9 January 2013, valid tenders have
been received for 22,352,466 Ordinary Shares representing
approximately 4.6 times the Ordinary Shares subject to the Tender
Offer.
In accordance with the terms of the Tender Offer, Shareholders
who tendered to sell less than or equal to 20 per cent. of their
shareholdings ("Pro Rata Entitlement") will have their tender
satisfied in full. Shareholders who tendered more than their Pro
Rata Entitlement, will have their Pro Rata Entitlement satisfied in
full and any Ordinary Shares tendered above their Pro Rata
Entitlement will be scaled down (to the nearest whole number of
Ordinary Shares) by a factor of approximately 0.0074313. Northland
will purchase the maximum number of Ordinary Shares available under
the terms of the Tender Offer, being in aggregate 4,856,582
Ordinary Shares (the "Tendered Shares") at 225 pence per Tendered Share, for a total
consideration of £10,927,310.
The posting of cheques in respect of certificated Ordinary
Shares purchased pursuant to the Tender Offer and the crediting of
CREST accounts for uncertificated Ordinary Shares purchased
pursuant to the Tender Offer are expected to occur by 17 January 2013.
The crediting of CREST accounts with uncertificated Ordinary
Shares unsuccessfully tendered and the dispatch of balance share
certificates for unsold certificated Ordinary Shares and the return
of share certificates for unsuccessful tenders of certificated
Ordinary Shares are also expected to occur by 17 January 2013.
Ordinary Shares purchased under the Tender Offer will be
cancelled by the Company on completion of the Tender Offer and the
Repurchase. The Company will announce when the Tender Offer and
Repurchase has been completed and the Ordinary Shares have been
cancelled.
Terms used in this announcement shall have the meaning ascribed
to them in the circular sent to Shareholders on 12 December 2012 unless otherwise stated.
For further information please visit www.srgroupplc.com or
contact:
Security Research Group plc 020 7881 0800
Jonathan Mervis, Chairman
John Warwick, Finance Director
Northland Capital Partners Ltd - Nominated Adviser & Broker
020 7796 8800 Tim Metcalfe /
Matthew Johnson