SCISYS Group PLC – Scheme Effective

18th December 2019

SCISYS is pleased to announce that, further to the announcement dated 17 December that the High Court had sanctioned the Scheme of Arrangement, the Court Order, together with the minute confirming the capital reduction necessary to implement the Scheme, has now been delivered to the Registrar of Companies in Ireland and, accordingly, the recommended acquisition of SCISYS by Bidco has now become effective in accordance with its terms.

Scheme Shareholders are entitled to receive 254.15 pence for every Scheme Share held. Despatch of cheques and crediting of CREST accounts for Consideration due under the Scheme will occur by no later than 14 days from this announcement, in accordance with the terms of the Scheme.

Trading of SCISYS Shares on AIM and Euronext Growth has been suspended from 7:30 a.m. (London time) today and the cancellation of admission to trading of SCISYS Shares on AIM and Euronext Growth will take effect at 7.00 a.m. (London time) on 19 December 2019.

Commenting on the completion of the acquisition, Mike Love, Chairman of SCISYS, said “With the completion of the acquisition of SCISYS by CGI the current directors of SCISYS will be resigning and will be replaced by new directors appointed by CGI. This marks the end of a 40-year epoch during which SCISYS traded as an independent company. Its growth and success over this period has been entirely due to the collective efforts of many individuals. It has been an honour and pleasure to work alongside so many talented individuals during this period. I and all my board colleagues wish to thank each and every one, past and present, in the SCISYS team for their many contributions. We wish the current team and CGI every success going forward.”

Click here for the full RNS announcement.

Click here for the CGI UK announcement and here for the CGI Germany announcement.

Click here for the global announcement.

About SCISYS Group:

Employing around 670 staff, SCISYS Group is a leading developer of information and communications technology services, e-business, web and mobile applications, editorial newsroom solutions and advanced technology solutions. The Company operates in a broad spectrum of market sectors, including Media & Broadcast, Space, Government and Defence and Commercial sectors. SCISYS clients are predominantly blue-chip and public-sector organisations. Customers include the Environment Agency, the Ministry of Defence, Airbus Defence & Space, Thales Alenia Space, Arqiva, Vodafone, the European Space Agency, Eumetsat, the BBC, Radio France, RTL, RNLI, Pets at Home, Siemens and the National Trust. The Company's registered office is in Dublin, with UK offices in Chippenham, Bristol, Leicester and Reading and German offices in Bochum, Dortmund, Darmstadt and Munich.