Offer Update (7745I)

TIDMFTS

RNS Number : 7745I

F.T.S-Formula Telecom Solutions Ltd

20 June 2011

F.T.S. - Formula Telecom Solutions Ltd.

Cash Offer

Formula Vision Technologies (F.V.T.) Ltd.

for

F.T.S. - Formula Telecom Solutions Ltd.

London, UK | 20 June 2011: F.T.S. - Formula Telecom Solutions Ltd. (LSE: FTS) ("FTS"), a global provider of billing, customer care and policy control solutions for communications and content service providers, announces that the conditions to the tender offer published by Formula Vision Technologies (F.V.T) Ltd., for itself and on behalf of certain other shareholders of FTS, on 11 May 2011 (the "Offer") have been satisfied in full.

As at 1.00 p.m. (London time) today, being the Acceptance Date for the Offer, Shareholders have accepted the Offer in respect of 2,988,749 Ordinary Shares. Accordingly, Non-Tendering Shareholders hold 357,251 Ordinary Shares, being less than 5 per cent. of the Ordinary Share capital of FTS in issue at 1.00 p.m. (London time) on the Acceptance Date. In accordance with the Israeli Companies Law and pursuant to the terms of the Offer (as set out in paragraph 5 of the offer document (the "Offer Document") which contains the full terms and conditions of the Offer), the conditions required for a compulsory transfer of all of the Ordinary Shares held by the Non-Tendering Shareholders as at 1.00 p.m. (London time) on the Acceptance Date have been met. Completion of the acquisition of all Offeree Shares from both Tendering Shareholders and Non-Tendering Shareholders (the former pursuant to acceptances of the Offer and the latter under the compulsory transfer mechanism referred to above) will therefore be completed in accordance with the terms of the Offer (as set out in paragraph 15 of the Offer Document).

In accordance with the terms of the Offer, holders of Ordinary Shares should note that as the Offer has become wholly unconditional, FTS will apply to the London Stock Exchange for the quotation of the Ordinary Shares on AIM to be cancelled and for the Ordinary Shares to cease to be admitted to trading on AIM. This process of cancellation will occur automatically at 7:00 a.m. on Tuesday 19 July 2011, being 20 clear business days from today. The cancellation of the Ordinary Shares from trading will not require any prior approval of the holders of Ordinary Shares.

The Offer Document is available on www.fts-soft.com.

FTS is an Israeli incorporated company whose shares are traded on AIM. Shareholders should be aware that the Offer is not governed by or subject to the UK City Code on Takeovers and Mergers.

Enquiries:

Joshua PR for FTS

Patrick Smith, Tel. +44 7734 600 553, patrick.smith@joshuapr.com

Seymour Pierce Limited

Mark Percy, Tel: +44 (0) 207 107 8000, markpercy@seymourpierce.com

FTS

investors@fts-soft.com

About FTS

FTS (LSE: FTS) is a leading provider of billing, customer care and policy control solutions for communications and content service providers. By analyzing events from a business standpoint rather than just billing them, FTS allows providers to better understand their customer base and leverage business value from every event and interaction. FTS deploys its full range of end-to-end, stand-alone and add-on solutions to customers in over 40 countries and implements solutions in wireless, wireline, cable, content and broadband markets including multiple cross-network installations. Serving the evolving needs of telecommunications providers, the company's operations comprise international R&D locations and strategically-located sales support offices worldwide. Further information is available at www.fts-soft.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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