7th Aug 2008 11:47
7 August 2008
Sinclair Pharma plc ("Sinclair Pharma" or the "Company")
Statement regarding share price movement
The Board of Sinclair Pharma notes the recent movement in the Company's share price and announces that it is currently having discussions with a party about a strategic opportunity for the Company and it has also received a preliminary enquiry, from another party, which may or may not lead to an offer being made for the Company.
The current discussions are at a preliminary stage and there is no certainty that any offer will be forthcoming.
Shareholders are advised to take no action at this stage.
A further announcement will be made in due course as and when necessary.
In accordance with Rule 2.10 of the Takeover Code, the Company confirms that it has 93,478,984 shares of 1p each in issue and admitted to trading on the Official List of the London Stock Exchange under the ISIN code GB0033856740.
Enquiries
For further information please contact:
Sinclair Pharma plc - Tel: +44 (0)1483 410 600
Dr Michael Flynn, CEO
Jerry Randall, CFO
Capital MS&L - Tel +44 (0)20 7307 5340
Mary Clark
Anna Mitchell
Investec - Tel: +44 (0)20 7597 4000
Richard Jones
Patrick Robb
Daniel Adams
Landsbanki Securities - Tel: +44 (0)20 7426 9000
Shaun Dobson
Claes Spång
Dealing Disclosure Requirements
Investec, which is authorised and regulated by the Financial Services Authority in the United Kingdom, is acting exclusively for Sinclair Pharma and no one else in connection with matters described in this announcement and will not be responsible to anyone other than Sinclair Pharma for providing the protections afforded to clients of Investec nor for providing advice in relation to matters described in this announcement.
Landsbanki, which is authorised and regulated by the Financial Services Authority in the United Kingdom, is acting exclusively for Sinclair Pharma and no one else in connection with matters described in this announcement and will not be responsible to anyone other than Sinclair Pharma for providing the protections afforded to clients of Investec nor for providing advice in relation to matters described in this announcement.
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Sinclair Pharma, 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 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Sinclair Pharma, they will be 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 "relevant securities" of Sinclair Pharma or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk .
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
Related Shares:
Sinclair Pharma