27th Oct 2006 16:40
Synergy Healthcare PLC27 October 2006 Synergy Healthcare plc 26 October 2006 Statement re press comment Synergy Healthcare plc ("Synergy") which yesterday announced its intention tomake an offer for Isotron plc notes the comments in today's Financial Times,specifically, the comment that "it had no plans to raise its bid". Synergywishes to make clear that it has made no statement as to whether it intends toincrease or not increase its offer. Dealing disclosure requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the'City Code'), if any person is, or becomes, 'interested' (directly orindirectly) in one per cent. or more of any class of 'relevant securities' ofIsotron, all 'dealings' in any 'relevant securities' of Isotron (including bymeans of an option in respect of, or a derivative referenced to, any such'relevant securities') must be publicly disclosed by no later than 3.30 pm(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 acceptance, 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 Isotron they willbe deemed to be a single person for the purpose of Rule 8.3. Under the provision of Rule 8.1 of the City Code, all 'dealings' in 'relevantsecurities' of Isotron by Synergy or Isotron or by any of their respective'associates', must be disclosed by no later than 12.00 noon (London time) on theLondon 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 Panel's website at 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 reference to, securities. Terms in quotation marks are defined in the City Code, which can also be foundon the Panel's website. If you are in any doubt as to whether or not you arerequired to disclose a 'dealing' under Rule 8, you should consult the Panel. Brewin Dolphin Securities Limited ("Brewin Dolphin"), which is authorised andregulated in the United Kingdom by the Financial Services Authority, is actingfor Synergy and no-one else in connection with the matters referred to hereinand will not be responsible to anyone other than Synergy for providing theprotections afforded to clients of Brewin Dolphin or for giving advice inrelation to such matters. Enquiries: Brewin Dolphin Securities 0845 270 8600Corporate FinanceMark BradyMatt DavisAndrew Emmott Corporate BrokingGraeme SummersNick Owen Buchanan Communications 020 7466 5000Tim AndersonMark Court This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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