GO p.l.c. - Acquisition of shareholding

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Tue Jan 29, 2008 10:04am EST 

RNS Number:7929M
Go PLC
29 January 2008







29 January 2008

                              COMPANY ANNOUNCEMENT

The following is a company announcement issued by GO plc pursuant to Malta
Financial Services Authority Listing Rules 8.9.2 and 8.9.4

Quote

Further to the Company Announcement issued on January 18th, 2008, GO plc
announces that together with its majority shareholder Emirates International
Telecommunications (Malta) Limited ("EITML"), it has acquired the total issued
share capital of Forgendo Limited a company registered in Cyprus. The share
capital in Forgendo Limited is split equally between GO plc and EITML.

Subject to the relevant regulatory approvals, Forgendo Limited has today entered
into mutually binding share purchase agreements with each of NOVATOR EQUITIES
LTD, CYCLADIC CATALYST MASTER FUND and the Foundation of Research and Technology
Hellas ("FORTH") (together the "Sellers") for the acquisition of a total of
8,158,912 shares, with the respective number of voting rights, representing
approximately 21.00% of the total issued share capital of a Greek company called
Hellenic Company for Telecommunications and Telematic Applications S.A.
("Forthnet") for a cash consideration of €93,827,488. The transactions have been
agreed at a price per share of €11.50.

More specifically, NOVATOR EQUITIES LTD, shareholder of 3,934,068 shares or
10.12% of the total issued share capital of Forthnet, and CYCLADIC CATALYST
MASTER FUND, shareholder of 2,224,844 shares or 5.73% of the total issued share
capital of Forthnet, agreed to sell their entire shareholding in Forthnet.
FORTH, shareholder of 4,412,465 shares or 11.36% of the total issued share
capital of Forthnet, agreed to sell 2,000,000 shares or 5.15% of the total
issued share capital of Forthnet. After the completion of the transaction FORTH
will remain a shareholder in Forthnet with 2,412,465 shares or 6.21% of Forthnet
share capital. Completion of the transaction is conditional upon Greek
regulatory approvals. Forthnet has its registered seat in Heraklion, Greece and
Forthnet shares are listed on the Athens Stock Exchange.

Unquote



Dr. Francis Galea Salomone LL.D.
Company Secretary



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

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