24th Nov 2006 08:04
Vectura Group PLC24 November 2006 For release 24 November 2006 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 TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Recommended offer for Innovata plc ("Innovata") by Vectura Group plc ("Vectura") Further to the announcement dated 17 November 2006 regarding the recommendedoffer for Innovata by Vectura, the Boards of Vectura and Innovata announce thatthe formal documents relating to the Proposal are being posted to theirrespective shareholders today. The Proposal is to be effected by way of a schemeof arrangement. Vectura Shareholders will receive a circular, convening an Extraordinary GeneralMeeting of Vectura for 13 December 2006 to consider and, if thought fit, approvethe Proposal, together with an Admission Document containing information(including financial information) relating to Vectura, Innovata and the EnlargedGroup. Innovata Shareholders will receive a circular containing details of theScheme and convening an Extraordinary General Meeting and a Court Meeting ofInnovata for 20 December 2006 to consider and, if thought fit, approve theScheme, together with a copy of the Admission Document referred to above. Expected timetable of principal events:- 13 December 2006 Vectura EGM20 December 2006 Innovata Court Meeting and Innovata EGM15 January 2007 Last day of dealings in Innovata Shares*16 January 2007 Scheme Effective Date* and Commencement of dealings in New Vectura Shares* * These dates are indicative only. The London Stock Exchange will be requested to cancel the trading in InnovataShares on its market for listed securities with effect from the close ofbusiness on 15 January 2006 and the UK Listing Authority will be requested tocancel the listing of Innovata Shares from the Official List with effect from8.00 a.m. on the Effective Date, expected to be on 16 January 2007. Enquiries: Vectura Group plc Dr Chris Blackwell, Chief Executive Anne Hyland, Chief Financial Officer Innovata plc Kieran Murphy, Chief Executive Officer Peter Shennan, Group Finance Director Piper Jaffray Limited (Nominated Adviser and broker to Vectura) David Rasouly Will Carnwath Nomura Code Securities Limited (Financial Adviser and broker to Innovata) Juliet Thompson Richard Potts Financial Dynamics David Yates Anna Keeble Additional information Terms used in this announcement shall have the same meaning as in theannouncement dated 17 November 2006. Piper Jaffray Ltd, which is authorised and regulated in the United Kingdom bythe Financial Services Authority, is acting exclusively for Vectura and no-oneelse in connection with the Proposal and will not be responsible to anyone otherthan Vectura for providing the protections afforded to clients of Piper JaffrayLimited nor for providing advice in relation to the Proposal. Nomura Code Securities Ltd, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting exclusively for Innovataand no-one else in connection with the Proposal and will not be responsible toanyone other than Innovata for providing the protections afforded to clients ofNomura Code Securities Limited nor for providing advice in relation to theProposal. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
VEC.L