11th Feb 2009 14:09
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Curidium Medica plc
("Curidium" or "the Company")
RESULTS OF COURT MEETING AND EXTRAORDINARY GENERAL MEETING
The board of Avacta Group plc announced on 9 January 2009 the terms of a recommended share offer for Curridium Medica plc by way of scheme of arrangement (the "Scheme"). The share offer will be made by Avacta Group plc for the cancellation of the Scheme Shares.
On 16 January 2009 the Company dispatched to its shareholders a circular containing, inter alia, the terms of the Scheme (the "Scheme Document") and notices convening the Court Meeting and the General Meeting.
The Directors are pleased to announce that, at the Court Meeting held on 11 February 2009 the resolution approving the Scheme was passed by the requisite majority on a poll.
The voting of those members who cast votes either in person or by proxy at the Court Meeting is summarised below:
Court Meeting
|
No: of Scheme Shareholders Voting |
No: of Scheme Shares Voted |
% of Scheme Shares Voted as a % of Total Votes Received |
|
|
For |
41 |
13,046,058 |
99.99 |
|
Against |
1 |
1,333 |
0.01 |
At the General Meeting also held on 11 February 2009 the Company's Shareholders passed the special resolution to approve the Scheme and the associated reduction of capital by a show of hands.
In addition to the special resolution to approve the Scheme, special resolutions to cancel the Deferred Shares and to amend the Company's articles of association were put to the General Meeting held on 11 February 2009. On 11 February 2009 the Company's Shareholders passed the special resolutions to cancel the Deferred Shares and to amend the Company's articles of association by a show of hands.
Completion of the Scheme remains subject to the sanction of the Court. The Court hearing to sanction the Scheme is expected to take place on 2 March 2009. It is expected that the Scheme will become effective on 3 March 2009.
On the basis that the Scheme becomes effective on 3 March 2009, Cancellation of the listing and dealing of Ordinary Shares in Curidium and the Issue of the New Avacta Shares will occur at 8am on 4 March 2009.
Capitalised terms used in this announcement have the same meanings in the circular and Scheme Document.
Enquiries
Curidium
Dr. Barry Porter, Chairman
Rob Smith, Chief Financial Officer
Tel: 020 7554 5100
Avacta
Dr Alastair Smith, Chief Executive Officer
Tim Sykes, Chief Financial Officer
Tel: 0870 835 4367
FinnCap (financial adviser to Curidium)
Charlie Cunningham
Tel: 020 7600 1658
Novum Securities Limited (financial adviser to Avacta)
Henry Turcan
Tel: 020 7562 4700
Haggie Financial (PR to Avacta)
Nicholas Nelson
Tel: 020 7417 8989
FinnCap, which is authorised and regulated in the UK by the Financial Services Authority, is acting as financial adviser and broker to Curidium in connection with the Recommended Offer and no-one else and will not be responsible to anyone other than Curidium for providing the protections afforded to clients of FinnCap nor for providing advice in relation to the Recommended Offer nor any other matter referred to in this announcement.
Novum Securities Limited, which is authorised and regulated in the UK by the Financial Services Authority, is acting as financial adviser to Avacta in connection with the Recommended Offer and no-one else and will not be responsible to anyone other than Avacta for providing the protections afforded to clients of Novum Securities nor for providing advice in relation to the Recommended Offer nor any other matter referred to in this announcement.
Related Shares:
Avacta Group