LOS GATOS, Calif., March 5, 2015 /PRNewswire/ -- CoSine Communications, Inc. (Other OTC: COSN) ("CoSine") announced today that the previously announced tender offer (the "Offer") of its wholly owned United Kingdom ("UK") subsidiary, Cedar 2015 Limited ("Cedar"), for all the issued and to be issued ordinary shares of API Group plc (LN:API) ("API") will close to further acceptances at 1:00 P.M., London time, on Thursday, March 19, 2015, and, accordingly, no further shares of API will be accepted after such time. In addition, Cedar has confirmed that the Offer price of 60 pence per share of API share is final and will not be increased.

As of 3:30 P.M., London time, on Wednesday, March 4, 2015, Cedar had received valid acceptances of the Offer in respect of 27,970,774 shares of API, representing, in aggregate, approximately 36.5% of the existing issued share capital of API. Together with the 24,807,203 shares of API already owned by Cedar, Cedar now holds, or has received valid acceptances in respect of, 52,777,977 shares of API, representing, in aggregate, approximately 68.8% of the existing issued share capital of API.

API is a manufacturer and distributor of foils, films and laminates used to enhance the visual appeal of products and packaging, serving industrial markets in Europe, North America and Australasia from production operations in the UK and US. Head-quartered in Poynton, North West England, API's global operations employ more than 550 people in 15 locations.

About CoSine Communications

CoSine's Certificate of Incorporation limits the ability of any group or person to acquire 5% or more of CoSine's common stock (subject to certain exceptions as provided in the Certificate of Incorporation).

CoSine's common stock is currently traded in the Pink Sheets under the symbol COSN.PK and its website is www.cosinecom.com

Cautionary note regarding forward-looking statements

This press release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the API and certain plans and objectives of the boards of directors of Cedar, SPLP and CoSine. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "will", "may", "should", "would", "could" or other words of similar meaning. These statements are based on assumptions and assessments made by the boards of directors of Cedar and CoSine in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes appropriate. By their nature, forward-looking statements involve risk and uncertainty, and the factors described in the context of such forward-looking statements in this press release could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release. Cedar and CoSine assume no obligation to update or correct the information contained in this press release, whether as a result of new information, future events or otherwise, except to the extent legally required.

The statements contained in this press release are made as at the date of this press release, unless some other time is specified in relation to them, and issuance of this press release shall not give rise to any implication that there has been no change in the facts set out in this press release since such date. Nothing contained in this press release shall be deemed to be a forecast, projection or estimate of the future financial performance of API, Cedar, SPLP or CoSine except where expressly stated.

Further information

This press release itself is not intended to constitute an offer or solicitation to buy or exchange securities in API, nor shall there be any sale or purchase of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, whether pursuant to the Offer or otherwise. The Offer is being effected solely through a form offer document, which, together with a form of acceptance (in relation to API shareholders holding shares in certificated form only) contains the full details, terms and conditions of the Offer, including the details of how to accept the Offer (the "Offer Document"). Any response to the Offer should be made only on the basis of the information contained in the Offer Document. API shareholders are urged to read the relevant Offer documents because they contain important information that shareholders should consider before making any decision regarding the tender of their shares. The Offer materials are available for free at http://www.cosinecom.com/cedar/.

For additional information contact:
Terry Gibson
(408) 399-6494
Email: Terry.Gibson@spcorpservices.com

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SOURCE CoSine Communications, Inc.