ACTA.L Regulatory News (ACTA)

18 Dec 2007 09:59

Acta S.p.A.18 December 2007 18 December 2007 Acta S.p.A. ("Acta" or the "Company") Completion of Merger The Company is pleased to announce that on 14 December 2007 it receivedconfirmation from Pisa Camera di Commercio that the merger with its 90 per centowned subsidiary, Idea Lab S.r.l., had been completed. The merger, which constitutes a related party transaction under the AIM rules,was first announced on 12 October 2007. The confirmation received on 14 Decembercompletes the merger process under Italian law. As previously announced, the consideration for the merger will be paid to thevendor by way of the issuing of 180,000 ordinary shares of Eur 0.006 each("Ordinary Shares"), which are to be issued within 45 days of notification ofthe merger to the vendor. Under Italian law, the vendor has the option within 30days from receipt of notification to sell the shares back to Acta at the averagemarket closing price for the six months prior to the exercise of the option bythe vendor. Should the vendor not exercise the option, application will be made for theissued shares to be admitted to trading on AIM. The Company will be able tonotify the market of the vendor's intention as regards payment within 30 days. For further information, please contact: Acta S.p.A:Toby Woolrych, Chief Operating Officer Tel: +44 (0) 20 7360 4900 Numis Securities:David Poutney, Alex Ham Tel: +44 (0) 20 7260 1000 Smithfield:George Hudson / Katie Hunt / Will Henderson Tel: +44 (0)20 7360 4900 This information is provided by RNS The company news service from the London Stock Exchange