Further re: announcement of approach

    RNS Number : 0929D
  Plasmon PLC
  10 September 2008
   

    10 September 2008

    Plasmon plc
    ("Plasmon" or the "Company")

    The following statement has been prepared for the benefit of the Company's customers and partners and will be posted on the Company's
website: www.plasmon.com.

    In accordance with Rule 20.1 of the City Code on Takeovers and Mergers, the full text of this statement is set out below:


    "To our customers and partners worldwide;

    You may be aware that Plasmon has recently announced plans for financial restructuring.  This letter will explain the background and
convey how important and positive the recent approach to acquire Plasmon outstanding shares is for us -- and will be for you with regard to
our relationship as your long-term business partner or technology provider.  

    In 2008, Plasmon embarked on a strategic business plan that is key to our long-term growth and future as a leader in the data archiving
market. For over 20 years we have provided the long-term storage components for a range of leading content management applications across
many industries. Thousands of users worldwide in the financial services, healthcare, government and other sectors, rely on our archive
solutions to ensure they can retain secure long-term copies of their valuable business information. However, the market for archiving is
changing and we have identified what Plasmon must do to adapt to this change in order to exploit the forecast for double digit archive
market growth.

    We have committed to re-inventing our company to meet the needs of the new enterprise archiving market opportunity. Archiving is now
being deployed by organizations as a strategic component of enterprise storage infrastructure by IT, rather than as a feature of
departmental content management applications. The requirements for enterprise archiving include both long-term storage on durable, removable
media - our traditional forte -- as well as rapid access to archive data online with high availability and disaster recovery. During the
last year we have addressed these needs with a full range of new archiving solutions that integrate server-based intelligence, magnetic
disk, and our unmatched UDO optical media. Our new "3-2-1 Archive Architecture" for accessible and secure long-term data storage provides
exactly what the enterprise market is looking for: at least 3 single instance data copies, on 2 types of media, 1 of which is removable,
long-lived and powered down.

    In the first quarter of our fiscal year beginning April 1, 2008, we launched this new product offering, and expanded our sales force to
provide clear communications with IT end-users. These changes delivered a significant increase in our global sales pipeline during the first
half of this calendar year, validating our strategy and our belief in long-term success with the new plan. We know many of you have
witnessed these positive results with us.  

    While our new products have demonstrated impressive pipeline growth, we did not achieve the increase in revenues necessary to support
the organic development of our strategic plan. In early August 2008, we announced that we remain committed to our strategy and would
vigorously pursue external financing opportunities. Plasmon was recently approached by a private equity firm to provide the significant new
investment we require to fully execute on our plans. This approach may or may not lead to an offer to acquire all existing publicly traded
shares.  

    As a valued business partner, I wanted to share with you these details because you need to know that the intended outcome is to position
Plasmon to go forward with financial and business certainty. We want to reassure our key partners and all our customers that, during this
process, it will be business-as-usual for you and Plasmon and we will endeavor to keep you informed as the plans progress.

    I also want to take this opportunity to thank you for your ongoing support and business. We look forward to building on past success by
continuing our relationship for many more years. Please contact your relationship manager or email us at partners_info@plasmon.com if you
have any questions or issues you wish to discuss.  


    Yours sincerely,

    Steven Murphy
    President and CEO
    Plasmon Plc"

    Dealing Disclosure Requirements

    Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly)
in 1% or more of any class of "relevant securities" of Plasmon, all dealings in any relevant securities of that company (including by means
of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3:30
pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on
which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period"
otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an
"interest" in "relevant securities" of Plasmon, they will be deemed to be a single person for the purpose of Rule 8.3.

    Under provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Plasmon by the potential offeror, Plasmon or by any
of their respective "associates", must be disclosed by no later than 12:00 noon (London time) on the London business day following the date
of the relevant transaction. 

    A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.

    "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the prices of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of
securities, or by virtue or any option in respect of, or derivative referenced to, securities.

    Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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