Advanced Computer Software Plc (ASW.L) announced that its offer for Business Systems Group Holdings Plc (BSG.L) has become unconditional in all respects following satisfaction of the acceptance condition and the passing of the resolutions put to shareholders at the general meeting of BSG and the general meeting of ACS. All remaining conditions of the Offer have been waived by ACS.
As the Offer is now wholly unconditional, it will continue to remain open for acceptance until on 29 June 2009.
As of 12 June 2009 , ACS had received valid acceptances of the Offer in respect of a total of 56.85 million BSG Shares, which represents about 95.3% of the existing issued share capital of BSG to which the Offer relates. Valid acceptances have been received from certain BSG Shareholders who entered into irrevocable commitments to accept the Offer, representing 44.68 million BSG Shares about 74.9% of the existing issued share capital of BSG to which the Offer relates.
Eyretel Unapproved Pension Scheme, which gave an irrevocable commitment to accept the Offer has not been able to accept the Offer in respect of 1.54 million BSG Shares but is expected to do so shortly.
The total number of BSG Shares to which the Offer relates is 59.65 million. This does not include 7.54 million BSG Shares issued in satisfaction of the exercise of options over BSG Shares which were exercised prior to the Offer being declared unconditional in all respects and for which ACS has now received acceptances in full.
ACS will complete the purchase of 18.32 million BSG Shares from Nick Gerard and Malcolm Coleman as trustees of the Nick Gerard Life Interest Trust representing about 21.4% of the issued share capital of BSG.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.