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Parseq Gets Approach From Rami Cassis Together With Nova Capital - Quick Facts

Parseq plc (PSQ.L), on August 22, 2011, received an approach from a potential offeror led by Rami Cassis, the company's Chief Executive, in relation to a possible offer for the company. The company announced that the approach was received from Rami Cassis together with Nova Capital and funds managed by HarbourVest Partners, LLC in relation to a possible offer for the Company through a newly incorporated entity. Any offer by the Potential Offeror is likely to be solely in cash and the indicative offer price is 7.5 pence per ordinary share.

These talks are still at a relatively early stage and the making of any offer is subject to, inter alia, satisfactory completion of the due diligence exercise currently being undertaken by the Potential Offeror. It should be noted that the Potential Offeror has not given its consent to the inclusion of these terms in this announcement.

As such, there is no certainty that an offer would be made, nor as to the terms on which any offer might be made.

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