Perachem Ltd - Offer from Primavera Capital plc
30 Oct 2006
PRIMAVERA CAPITAL PLC ("PRIMAVERA" OR THE "COMPANY")
The Directors of Primavera announce that they have requested PlusMarkets ("PLUS") temporarily to suspend from trading on PLUS the 5 pence ordinary shares of the Company. The Company has agreed, subject to shareholder approval and completion, to acquire for shares for GBP 3 million the whole of the issued share capital of Perachem Limited ("Perachem"), a private company which has developed and continues to develop unique and environmentally-advantageous chemical treatments for natural textiles.
The proposed transaction will result in a change in the ownership of Primavera, which will amount to a Reverse Takeover.
The Company will shortly post a circular to shareholders, containing full information on Perachem and the proposed transaction, and containing notice of an Extraordinary General Meeting of shareholders, which will be required to approve the proposed acquisition and certain surrounding business; it will also apply for the whole of the issued share capital as enlarged by the proposed transaction to be admitted to PLUS and to change the sector categorisation of the enlarged Company from support services to chemicals.
ENDS.
