22nd Jan 2009 10:33
Tepnel Life Sciences PLC ('Tepnel' or 'the Company')
Statement re share price movement
Manchester, U.K, 22 January 2009 The Board of Tepnel Life Sciences PLC (AIM: TED), the international Molecular Diagnostics and Research Products & Services group, notes the recent share price movement and confirms that the Company has received an approach which may or may not lead to an offer being made for the Company. The Board emphasizes that discussions are at an early stage and that there can be no assurance that an offer will be forthcoming.
A further statement will be issued in due course.
For further information:
Tepnel Life Sciences plc
Ben Matzilevich, CEO
Michael Slater, Group Finance Director
Tel: +44 (0)161 946 2200
Seymour Pierce Limited
Mark Percy / Tom Sheldon
Tel: +44 (0)20 7107 8000
The Directors of Tepnel accept responsibility for the information contained in this announcement. To the best of knowledge and belief of the Directors, who have taken all reasonable care to ensure such is the case, the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Seymour Pierce Limited ("Seymour Pierce"), which is regulated in the United Kingdom by the Financial Services Authority, is acting for Tepnel in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than Tepnel for providing the protections afforded to customers of Seymour Pierce or for providing advice in relation to the matters described in this announcement.
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) in 1% or more of any class of "relevant securities" of Tepnel, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Tepnel, 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 Tepnel by Tepnel, or by any of its 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:
TED.L