This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.
Update: Proposal To Purchase KeyTech Limited.
Hamilton, Bermuda, August 28, 2006 -- In light of the recent publicity, speculation and queries about the desire by Cable and Wireless to buy KeyTech Limited, we wish to confirm that KeyTech has not received new or revised terms from C&W to purchase KeyTech Limited since a suggested value of $205 million was discussed at KeyTech's Annual General Meeting on July 21st.
At the AGM, the Chairman, Dr. James King, told shareholders that "having considered the inherent value for the KeyTech group's operations, its various assets and its current strategic position your Board is not recommending this price as being in the shareholders' best interests". This statement was part of a letter to shareholders which outlined the Board's reasons for considering that the proposal significantly under valued KeyTech.
The Board of Directors will give careful consideration to any matter of significance that affects KeyTech and its shareholders.
Sheila Lines
CEO, KeyTech Limited