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SJ Berwin LLP
Tuesday, January 02, 2007
SJ Berwin Advises on Recommended Offer by Catalis for Kuju
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SJ Berwin represented Catalis Development Services Limited, a subsidiary of Catalis N.V., in connection with its recommended offer for the shares of Kuju plc. The cash offer was made on 18 December 2006 at an offer price of 25p per Kuju share, valuing Kuju at approximately £4.375 million. Catalis Development Services Limited has received irrevocable undertakings to accept the offer in respect of shares representing approximately 54.6 per cent. of the issued share capital of Kuju. At the time the offer was made, Catalis group companies held approximately 13.2 per cent. of the shares in Kuju. Catalis N.V. is a Dutch company which is listed on the Frankfurt Stock Exchange. Catalis N.V. provides quality assurance services for the digital media industry. Through its operating companies, Catalis N.V. focuses on content verification, functionality testing, compatibility testing, emulation and a wide range of additional services for content providers. Catalis Development Services Limited was established by Catalis N.V. specifically to make the offer for Kuju. Kuju, which is listed on the AIM exchange, is one of Europe’s leading independent developers of interactive entertainment software for a variety of platforms. Kuju operates across five studios in the UK including studios in Godalming, London, Sheffield and Brighton. Kuju has a strong development capability and has been creating interactive games for a number of major games publishers for over eight years. These include Dungeons and Dragons Tactics, Pilot Academy and Sing Star. The SJ Berwin team was led by corporate finance partner, Jonathan Djanogly, supported by senior corporate assistant Marcus Biggs. S.P. Angel Corporate Finance LLP, whose Team was led by David Facey made the offer on behalf of Catalis N.V.. Kuju was represented by Osborne Clarke whose team was led by Jonathan King. Commenting on the offer Jonathan Djanogly said: “We are delighted to act as legal advisers to Catalis as it develops and expands its business. The offer to acquire Kuju represents a major step for Catalis in this process. This was our firm’s first instruction from Catalis and we hope that our relationship will develop from here.”

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