Psion

Canaccord Genuity is pleased to inform that, on 15 June 2012, its client, Psion plc, a global provider of rugged mobile computing solutions, announced the terms of a recommended cash offer from Motorola Solutions, Inc., a global manufacturer and provider of mission-critical data communication and telecommunication equipment.

The offer from Motorola of 88p per share values the fully diluted share capital of Psion at approximately £129m (approximately US$200m). The offer represents:

• a premium of 45.5% to the closing price on 14 June 2012, the last business day prior to the start of the offer period and a premium of 54.9% to the one month average price
• a multiple of 14.4x 2011 reported EBITDA and a multiple of 9.0x 2011 adjusted EBITDA

Canaccord Genuity acted as Rule 3 and financial advisor and broker to Psion.