Danka Business Systems PLC Announces Completion of Exchange Offer.Business Editors ST. PETERSBURG, Fla.--(BUSINESS WIRE)--June 29, 2001 Danka Business Systems PLC (Nasdaq:DANKY) (the "Company" or "Danka") today announced that it has completed the exchange offer for its outstanding 6.75% convertible subordinated notes due April 1, 2002 (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. Nos. G2652NAA NAA Nomina Anatomica Avium. 7, 236277AA7, and 236277AB5) and that the offer expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. as of 8:00 a.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on June 29, 2001. The Company said that it has accepted tenders from holders of a total of $184,012,000 in aggregate principal amount (92%) of the 6.75% convertible subordinated notes. Of the notes tendered pursuant to the exchange offer, $118,484,000 in principal amount was tendered for the limited cash option, $1,008,000 in principal amount was tendered for the new senior subordinated note option and $64,520,000 in principal amount was tendered for the new 10% note option. The limited cash option was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. . Accordingly, under the limited cash option, Danka will purchase $60,000,000 of old notes for cash at the rate of $400 in cash per $1,000 of old notes and will exchange $58,484,000 in principal amount of old notes for new zero coupon senior subordinated notes at the rate of $800 in new notes per $1,000 principal amount of old notes. For the total $118,484,000 principal amount of old notes tendered for cash, the Company will pay $202.56 in cash and $394.88 principal amount in new senior subordinated notes per $1,000 principal amount of old notes. Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control was the exclusive dealer manager for the exchange offer. Danka Business Systems PLC, headquartered in London, England and St. Petersburg, Florida St. Petersburg (often shortened to St. Pete) is a city in Pinellas County, Florida, United States. The city is known as a vacation destination for North American and European vacationers, as well as a politically important battleground in U.S. Presidential politics. , is one of the world's largest independent suppliers, by revenue, of office imaging equipment and related services, parts and supplies. Danka provides office products and services in approximately 30 countries around the world. Where to obtain additional information: Noteholders are urged to read the preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders and relevant documents filed or to be filed with the Securities and Exchange Commission because they contain important information about Danka and the exchange offer, including the complete terms of the exchange offer, the terms of the new senior subordinated notes and the new 10% subordinated notes, and other related matters. Copies of the preliminary prospectus and related documents and other information may be obtained for free at the Securities and Exchange Commission website. The address of the site is http://www.sec.gov. You may request free copies of the documents that we have filed with the Securities and Exchange Commission by contacting us. Requests should be directed to: Danka Business Systems PLC, 11201 Danka Circle North, St. Petersburg, Florida 33716 Attn: Treasurer, Telephone: 727/578-4766. A registration statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the new zero coupon senior subordinated notes and the new 10% subordinated notes being offered pursuant to the exchange offer has been filed with the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, nor shall there be any sale of the new notes in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. NOTICE TO MARYLAND RESIDENTS: THIS ANNOUNCEMENT MUST BE READ IN CONNECTION WITH THE PRELIMINARY PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. A COPY OF THE PRELIMINARY PROSPECTUS MUST BE MADE AVAILABLE TO NOTEHOLDERS IN CONNECTION WITH THIS OFFERING. Filed by Danka Business Systems PLC Pursuant to Rule 425 under the Securities Act of 1933 For: Danka Business Systems PLC Commission File No.: 33-55914 |
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