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Learning Tech offer for NetDimensions goes unconditional

Company News

Learning Tech offer for NetDimensions goes unconditional

Mon, 20 March 2017
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Learning Tech offer for NetDimensions goes unconditional

(ShareCast News) - Integrated e-learning services and technologies provider Learning Technologies Group's offer for enterprise talent management software platform provider NetDimensions was all but a done deal on Monday morning, as it was declared unconditional in all respects, save for admission.
On 21 February, Learning Tech made an offer for the entire issued and to be issued share capital of NetDimensions.

Following its announcement on 15 March, Learning Tech confirmed on Monday that the conditions of its offer - save for Admission - had been satisfied or waived and the offer was now declared unconditional in all respects.

"Following the announcement of the offer on 3 February, Learning Tech has acquired in aggregate 1,000,000 NetDimensions shares in the market at an average price of 98.23p per share, representing approximately 1.95% of the entire issued share capital of NetDimensions at the first closing date," its board confirmed in a statement.

"No other NetDimensions shares are held by or on behalf of Learning Tech as at the date of this announcement."

As at 1300 GMT on 14 March, valid acceptances had been received by or on behalf of Learning Tech in respect of a total of 46,817,248 NetDimensions shares, representing approximately 91.30% of the issued share capital of NetDimensions at the first closing date.

"Accordingly, Learning Teh has acquired or agreed to acquire (- ncluding by way of acceptance of the offer - in aggregate 93.25% in nominal value of the NetDimensions shares at the first closing date."

Learning Tech said NetDimensions shareholders who had not yet accepted the Offer were encouraged to do so without delay.