29th Jan 2007 15:35
Devro PLC29 January 2007 PRESS ANNOUNCEMENTFOR IMMEDIATE RELEASE29 January 2007DEVRO PLC ("DEVRO" OR THE "COMPANY") The Board of Devro notes the recent movement in its share price and announcesthat it has received a preliminary approach which may or may not lead to anoffer being made for the whole of the issued share capital of Devro at 150p pershare in cash. In accordance with Rule 2.10 of the Takeover Code (the "Code"), Devro confirmsthat it has 162,825,047 ordinary shares of 10 pence each in issue and admittedto trading on the London Stock Exchange under the UK ISIN code GB0002670437. This announcement has not been made with the agreement or approval of thepotential offeror and there can be no certainty that an offer will be made noras to the terms on which any offer might be made. A further announcement will be made in due course. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Code, if any person is, or becomes,"interested" (directly or indirectly) in 1% or more of any class of "relevantsecurities" of Devro, all "dealings" in any "relevant securities" of Devro(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 Devro, they willbe deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of Devro by the potential offeror or Devro, or by any of theirrespective "associates", must be disclosed by no later than 12.00 noon (Londontime) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.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 Takeover Panel'swebsite. If you are in any doubt as to whether or not you are required todisclose a "dealing" under Rule 8, you should consult the Takeover Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DVO.L