18th Jan 2007 07:00
Vectura Group PLC18 January 2007 Vectura Group PLC - Re: Acquisition of Innovata plc For immediate release 18 January 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTOTHE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN OR ANYOTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANTLAWS OF SUCH JURISDICTION Vectura Group plc ("Vectura") and Innovata plc ("Innovata") Recommended offer for Innovata by Vectura Scheme of Arrangement becomes effective The boards of Vectura and Innovata are pleased to announce that following theapproval by the Court of the Scheme of Arrangement required to effect theAcquisition of Innovata by Vectura and the satisfaction or waiver of allremaining conditions, the Scheme of Arrangement has become effective and theAcquisition has now been completed. As a result of the acquisition, 143,824,813 New Vectura Shares have been issuedto former Innovata Shareholders. As of today, 314,197,226 ordinary shares of0.025 pence each in the capital of Vectura are in issue. Dealings in the New Vectura Shares issued to Innovata Shareholders pursuant tothe Scheme are expected to commence at 8:00 a.m. today. The last day of dealingsin Innovata Shares was 17 January 2007 and the Innovata Shares will be delistedat 8:00 a.m. today. Any Innovata Shareholder who has any queries in relation to the above shouldcontact their financial adviser or Vectura's registrars, Computershare (Tel:0870 702 0000). The board of Vectura also announces that the appointment of Dr Susan Foden as aNon-Executive Director of Vectura took effect as of today upon the Acquisitionbecoming effective. Details of the above director are contained in the Admission Document which wassent to Vectura Shareholders and to Innovata Shareholders on 24 November 2006. Commenting on the completion of the Acquisition, Jack Cashman, Chairman ofVectura, said: "Today sees the creation of a company with a strong pipeline, a broad technologybase and a skilled and committed workforce, that intends to build on thesignificant achievements of its predecessors. Vectura looks forward to theopportunities and challenges of being a major player in pulmonary productdevelopment and in strengthening its franchises in respiratory and neurology." Terms used in this announcement shall have the same meaning as in the AdmissionDocument which was sent to Vectura Shareholders and Innovata Shareholders on 24November 2006. Enquiries:Vectura Group plc Tel: 01249 667 700Chris Blackwell, Chief ExecutiveAnne Hyland, Chief Financial Officer Piper Jaffray Ltd (Nominated Adviser and broker to Vectura) Tel: 020 7743 8700David RasoulyWill Carnwath Nomura Code Securities Ltd (Financial Adviser and broker to Innovata) Tel: 020 7776 1200Richard PottsClaire Davis Financial Dynamics Tel: 020 7269 7156David YatesAnna Keeble Piper Jaffray, which is authorised and regulated in the UK by the FinancialServices Authority, is acting as Nominated Adviser and broker to Vectura inconnection with the Proposal and no-one else and will not be responsible toanyone other than Vectura for providing the protections afforded to clients ofPiper Jaffray nor for providing advice in relation to the Proposal nor any othermatter referred to in this announcement. Nomura Code, which is authorised and regulated in the UK by the FinancialServices Authority, is acting as Financial Adviser and broker to Innovata inconnection with the Proposal and no-one else and will not be responsible toanyone other than Innovata for providing the protections afforded to clients ofNomura Code nor for providing advice in relation to the Proposal nor any othermatter referred to in this announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
VEC.L