Synchronica plc
TSX VENTURE : SYN
AIM : SYNC

Synchronica plc

September 28, 2010 09:30 ET

Synchronica plc: Further Extension of Bid for iseemedia

ROYAL TUNBRIDGE WELLS, UNITED KINGDOM--(Marketwire - Sept. 28, 2010) - Synchronica plc ("Synchronica") (TSX VENTURE:SYN)(AIM:SYNC), the international provider of next-generation mobile messaging services, announces that in connection with the take-over bid launched on July 22, 2010 for all the common shares and warrants of iseemedia Inc., Synchronica plc ("Synchronica") has taken up 2,388,632 additional common shares and 312,500 common share purchase warrants of iseemedia Inc. ("iseemedia"). Synchronica will pay for these shares by issuing 641,822 ordinary shares of Synchronica and 83,968 ordinary share purchase warrants of Synchronica. As a result of the most recent take-up, Synchronica now holds 90,287,308 common shares of iseemedia (or approximately 85% of the common shares outstanding), as well as 7,686,250 common share purchase warrants of iseemedia expiring on December 11, 2011 and 33,333,334 newly issued common share purchase warrants of iseemedia expiring on September 20, 2013.

In an effort to acquire at least 90 percent of iseemedia and further expedite a second-stage going private transaction, Synchronica has extended its take-over bid for all the common shares and warrants of iseemedia to 5:00 p.m. (Toronto time) on Tuesday, 5th October 2010. This extension will provide additional time for those current shareholders and warrant holders of iseemedia who have not deposited their securities to the bid to do so. During the extension period, subject to securities law requirements, Synchronica may, in its discretion, take up any additional shares or warrants deposited in accordance with the bid's terms.

In order to accept Synchronica's bid and receive the Synchronica securities offered, a holder of iseemedia common shares or common share purchase warrants must deliver the subject share or warrant certificate(s), with a completed Letter of Transmittal to Computershare Investor Services Inc. on or before 5:00 p.m. (Toronto time) on Tuesday October 5, 2010. In the alternative, a holder who wishes to accept Synchronica's offer may deliver a Notice of Guaranteed Delivery to Computershare Investor Services Inc. on or before 5:00 p.m. (Toronto time) on Tuesday October 5, 2010. The specific procedures for accepting Synchronica's offer are described in greater detail in the circular that was previously mailed to iseemedia's shareholders (with the Letter of Transmittal (on BLUE PAPER) and Notice of Guaranteed Delivery (on YELLOW PAPER)). Holder of shares or warrants of iseemedia who have questions about Synchronica's offer or how to accept it are urged to contact Computershare Investor Services Inc. at +1-800-564-6253 or +1-514-982-7555, or Synchronica at +44-1892-552-760.

About Synchronica plc

Synchronica plc is a leading developer of next-generation mobile messaging solutions based on open industry standards. The award-winning product portfolio includes the flagship product Mobile Gateway, providing push Email, synchronization, instant messaging (IM), backup and restore, and mobile connectivity to social networks. Synchronica's products are white-labelled and offered by mobile operators and device manufacturers in emerging and developed markets to provide mass market messaging services, increasing data revenues and reducing churn.

Synchronica Mobile Gateway provides a unique multi-protocol gateway combining Push IMAP, SyncML, ActiveSync, Email-to-MMS, and Email-to-SMS, delivering messaging services to literally any mobile phone currently in the market without requiring an additional client to be downloaded. Expanding instant messaging to mobile devices, Mobile Gateway establishes carrier-branded IM communities, using the industry standard XMPP and provides gateways to popular internet IM communities, connecting any IMPS-enabled handset.

Headquartered in England, Synchronica also maintains development centres in Germany and the Philippines in addition to a regional presence in the USA, Hong Kong, Madrid and Dubai. Synchronica plc is a public company traded on the AIM list of the London Stock Exchange (SYNC.L). For further information, please visit www.synchronica.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Synchronica plc
    Carsten Brinkschulte
    CEO
    +44 (0) 7977 256 406
    or
    Synchronica plc
    Angus Dent
    CFO
    +44 (0) 7977 256 347
    or
    Synchronica plc
    Nicole Meissner
    COO
    +44 (0) 7977 256 412
    www.synchronica.com
    or
    finnCap
    Clive Carver
    Nomad
    +44 (0) 20 7600 1658
    or
    finnCap
    Charlotte Stranner
    Corporate Finance
    +44 (0) 20 7600 1658
    or
    finnCap
    Stephen Norcross
    Corporate Broker
    +44 (0) 20 3207 3211
    or
    Walbrook PR Ltd
    Paul McManus
    +44 (0) 20 7933 8787 or +44 (0) 7980 541 893
    paul.mcmanus@walbrookpr.com