24th Nov 2005 15:49
Innovata Plc24 November 2005 24 November 2005 Innovata plc Response to press speculation The board of Innovata plc notes the recent press speculation and confirms thatit is currently in early stage discussions with SkyePharma plc regarding apossible combination of the two companies. It is emphasised that these discussions are preliminary in nature and there canbe no certainty that a transaction will be concluded. A further announcementwill be made as appropriate. ENDS Contacts: Financial Dynamics Tel: 020 7831 3113David Yates / Sarah MacLeod Code Securities Limited, which is regulated in the United Kingdom by TheFinancial Services Authority, is acting exclusively for Innovata plc inconnection with the matters referred to in this announcement no-one else andwill not be responsible to anyone other than Innovata plc for providing theprotections afforded to customers of Code Securities Limited, nor for givingadvice in relation to the matters referred to in this announcement. For the purposes of Rule 2.10 of the City Code on Takeovers and Mergers,Innovata plc announces that, as at the date of this announcement, it has502,638,496 ordinary shares of one pence each in issue. The InternationalSecurities Identification Number for the ordinary shares of Innovata plc isGB0005554703. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the"Code"), if any person is, or becomes, "interested" (directly or indirectly) in1% or more of any class of "relevant securities" of Innovata plc or ofSkyePharma plc, all "dealings" in any "relevant securities" of that company(including by means of an option in respect of, or a derivative referenced to,any such "relevant securities") must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevanttransaction. This requirement will continue until the date on which the offerbecomes, or is declared, unconditional as to acceptances, lapses or is otherwisewithdrawn or on which the "offer period" otherwise ends. If two or more personsact together pursuant to an agreement or understanding, whether formal orinformal, to acquire an "interest" in "relevant securities" of Innovata plc orSkyePharma plc, they will be deemed to be a single person for the purpose ofRule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Innovata plc or of SkyePharma plc by Innovata plc orSkyePharma plc, or by any of their respective "associates", must be disclosed byno later than 12.00 noon (London time) on the London business day following thedate of the relevant transaction. A disclosure table, giving details of thecompanies in whose "relevant securities" "dealings" should be disclosed, and thenumber of such securities in issue, can be found on the Takeover Panel's websiteat www.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marksare defined in the Code, which can also be found on the Panel's website. If youare in any doubt as to whether or not you are required to disclose a "dealing"under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SKP.L