HNS acquires 71.2% of Spidernet

HNS Limited announced that the Public Offer submitted on October 23, 2006 to the shareholders of Spidernet Services Public Limited for the acquisition of up to 100% (minimum 51%) of the issued share capital, expired successfully on November 30, 2006.
The total shares that were accepted via the Acceptance Forms stood at 19,657,738, which represent 71.2% of the issued share capital of Spidernet Services Public Limited.
The payment of the consideration to the shareholders that accepted the Public Offer of 4.5 Cyprus pound cents or 7.8 euro cents per share of Spidernet Services Public Limited will be carried out within the period of 14 business days from the expiry of the date of acceptance, with the dispatch of the cheques to the beneficiaries.
The total acquisition price amounts to CYP 885.000 or EUR 1.53 mln.