Intec shares suspended pending announcement of major US acquisition

Shares in Intec Telecom Systems plc were suspended on November 3rd, on news that Intec is in negotiations to acquire a large, privately-held US software company. This acquisition has been categorised as a 'Class 1' transaction by the UK Listing Authority, and will require our shares to be suspended until the details of the transaction are made public. We expect this to occur during the week commencing November 20th.

There is no reason to be concerned by this suspension - it is a normal consequence of such major acquisition negotiations, and is made in the interest of ensuring share price stability. We will announce more details on the acquisition, and the resumption of trading as soon as possible. However, the Directors believe that the acquisition we are negotiating is a very positive move for the Group.