3rd Jul 2007 07:01
Henderson Morley PLC03 July 2007 3 July 2007 HENDERSON MORLEY PLC (AIM:HML) STRATEGIC REVIEW The Board of Henderson Morley announces that, further to the announcement madeon 23 January 2007, the Company is continuing to explore strategic options inorder to maximise shareholder value. One of these options is the sale of someor all of the business, and the Board has engaged advisers to assist with thisprocess. This process may or may not lead to an offer being made for theCompany. Consequently the Company is considered to be in an "offer period" asdefined in the City Code on Takeovers and Mergers, and the dealing disclosurerequirements listed below will apply. During this process the scientific development programme and out-licensingstrategy continues unaffected. The Company will keep shareholders informed of progress in this respect. ---ENDS--- Contact: Henderson Morley plc 0121 442 4600Andrew Knight Bishopsgate Communications Ltd 0207 562 3350Maxine Barnes Brewin Dolphin SecuritiesNeil Baldwin 0113 241 0130 In accordance with Rule 2.10 of the City Code of Takeovers and Mergers, as atthe close of business on 2 July 2007 it had 491,928,631 ordinary shares of 0.125pence each in issue. The ISIN reference number for these securities isGB0030711229. 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) in1% or more of any class of 'relevant securities' of the Company, all 'dealings'in any 'relevant securities' of that company (including by means of an option inrespect of, or a derivative referenced to, any such 'relevant securities') mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe 'offer period' otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an'interest' in 'relevant securities' of the Company, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of the Company by the Company, or by any of its 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 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 marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a 'dealing' under Rule 8, you should consult the Panel. - ENDS - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HML.L