NNG Newport Network

    RNS Number : 9808Z
  Newport Networks Group PLC
  28 July 2008
   

    Newport Networks Group PLC
    ("Newport" or "the Company")

    AGM Statement and Strategic Review Update.

    At the Company's Annual General Meeting to be held today at the offices of Speechly Bircham LLP at 6 New Street Square, London, EC4A 3LX
at 4.00 p.m., the Chairman, Sir Terry Matthews, will provide the following update to shareholders: 

    "Further to the announcement on 11 July 2008 the Board continues to review various strategic alternatives for the Company including the
licensing of the Company's technology, the redirection of the Company towards complementary technology or seeking an offer for the entire
issued share capital of the Company. Discussions are taking place with various interested parties. However these discussions are at an early
stage and there can be no certainty that they will be successfully concluded, or that an offer for the Company will be forthcoming.

    The Board continues to reduce the cost base of the Company which the Board considers is likely to make the Company more viable going
forward. Significant reductions in headcount are therefore likely to take place."
      
    For further information: 

    Newport Networks Group PLC                  Tel: 01291 435700 
    John Everard, Chief Executive 
    John Ackroyd, Finance Director 


    Evolution Securities                        Tel: 020 7071 4300
    Robert Collins/Tim Redfern/Neil Elliot

    Dealing Disclosure Requirements 

    Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 'Code'), if any person is, or becomes, 'interested'
(directly or indirectly) in 1% or more of any class of 'relevant securities' of Newport Networks Group PLC, all 'dealings' in any 'relevant
securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities')
must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction.
This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is
otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire an 'interest' in 'relevant securities' of Newport Networks Group PLC, they will be
deemed to be a single person for the purpose of Rule 8.3. 

    Under the provisions of Rules 8.1 of the Code, all 'dealings' in 'relevant securities' of Newport Networks Group PLC by a potential
offeror, or Newport Networks Group PLC, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London
time) on the London business day following the date of the relevant transaction. 

    A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk . 

    'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative referenced to, securities. 

    Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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