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ECsoft Announces Exercise of Over-Allotment Option in Secondary Offering and Listing On the London Stock Exchange.


LONDON--(BUSINESS WIRE)--June 26, 1998--ECsoft Group plc ("ECsoft" or the "Company"; Nasdaq National Market:ECSGY) announced that Deutsche Bank AG London ("Deutsche Bank"), on behalf of the underwriters, has exercised an option to purchase from the Company an additional 300,000 Ordinary Shares
Ordinary shares
Apples mainly to international equities. Shares of non-U.S. companies traded in their individual home markets. Usually cannot be delivered in the U.S. See: ADR.
, nominal value (pound)0.50 each ("Ordinary Shares"), in the form of Ordinary Shares or American Depositary Shares ("ADSs"), each ADS representing one Ordinary Share, to cover over-allotments. The additional 300,000 Ordinary Shares are to be purchased from the Company on the same terms and conditions as those Ordinary Shares sold in the offering.

On June 24, 1998, the Company announced its secondary public offering of 2,000,000 Ordinary Shares, nominal value
Nominal Value
The stated value of an issued security that remains fixed, as opposed to its market value, which fluctuates.

Notes:
When referring to fixed-income securities, the nominal value is also the face value. When referring to capital goods, nominal value is also referred to as "book value".
See also: Book Value, Face Value, Fixed Income Securities, Market Value, Real Rate of Return
 (pound)0.50 each ("Ordinary Shares"), in the form of Ordinary Shares or American Depositary Shares ("ADSs"), each ADS representing one Ordinary Share, on the Nasdaq National Market. In addition, the Company announced the commencement of trading of its Ordinary Shares on the Official List of the London Stock Exchange on a conditional basis.

Including the exercise of the over-allotment option, of the 2,300,000 Ordinary Shares offered, 1,375,000 Ordinary Shares were issued by ECsoft and 925,000 Ordinary Shares were sold by certain shareholders of the Company.

Upon closing of the offering, there are expected to be 10,734,945 Ordinary Shares outstanding.

The offering was made through an underwriting group managed by Deutsche Bank serving as global coordinator, bookrunner and lead manager. BancAmerica Robertson Stephens and BT Alex. Brown are acting as co-lead managers. The London listing is sponsored by Deutsche Bank.

ECsoft Group plc provides information technology consulting, applications development, systems integration and information systems management services to large European-based companies and organizations. The Company is headquartered in London with ten offices in the United Kingdom, Norway, Denmark and Sweden.

Offers to sell or solicitations to buy can only be made through the Company's prospectus and only in those States which the offer solicitation would be lawful. Copies of the final prospectus for the U.S. offering may be obtained from Deutsche Bank Securities, 31 West 52nd Street, New York, NY 10019, 212/469-5600; BancAmerica Robertson Stephens LLC, 555 California St., San Francisco, CA 94104, 415/781-9700; or BT Alex. Brown, 135 Bishopsgate, EC2M 3XT, 0171/885 2500.

CONTACT: ECsoft Group plc, London

Forbes Cook +44 (0)171 355 9025

Fax: +44 (0)171 355 9001

e-mail: forbes.cook@ecsoft-group.com
COPYRIGHT 1998 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 26, 1998
Words:405
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