15th Jan 2007 16:15
Vectura Group PLC15 January 2007 Vectura Group PLC - Re Acquisition of Innovata plc For immediate release 15 January 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTOTHE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TODO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Vectura Group plc ("Vectura") and Innovata plc ("Innovata") Recommended offer for Innovata by Vectura Approval of Scheme of Arrangement by the Court The boards of Vectura and Innovata are pleased to announce that, at a CourtHearing held earlier today, the Court sanctioned the Scheme of Arrangement andconfirmed the related Reduction of Capital comprised within the Scheme. TheScheme is expected to become effective and the Acquisition of Innovata completedon registration of the Reduction of Capital by the Registrar of Companies anddelivery to him of an office copy of the Court Order. This is now expected totake place on 17 January 2007. Dealings in the New Vectura Shares issued to Innovata Shareholders pursuant tothe Scheme are therefore expected to commence at 8:00 a.m. on 18 January 2007.17 January 2007 will be the last day of dealings in Innovata Shares and it isexpected that the Innovata Shares will be delisted at 8:00 a.m. on 18 January2007. It is expected that certificates in respect of the New Vectura Shares will bedispatched no later than 30 January 2007. Terms used in this announcement 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 Innovata plc Tel: 01159 747 474Kieran Murphy, Chief ExecutivePeter Shennan, 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:
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