Corin Group PLC Stmnt re Share Price Movement (4879Q)
06 Novembre 2012 - 6:16PM
UK Regulatory
TIDMCRG
RNS Number : 4879Q
Corin Group PLC
06 November 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO
MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND
MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT AN OFFER
WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE
MADE
FOR IMMEDIATE RELEASE
6 November 2012
Corin Group plc ("Corin")
Corin notes the recent movement in its share price and confirms
that it is in advanced discussions with 2IL Orthopaedics Limited
which may lead to an offer for the entire issued share capital of
Corin at seventy pence per ordinary share in cash. 2IL Orthopaedics
Limited is a new company formed by a consortium comprised
principally of IP Investimenti & Partecipazioni S.r.l, Hunt
Capital S.A and IDeA Opportunity Fund I. There can be no certainty
as to whether any offer will be forthcoming, on these or other
terms.
In accordance with Rule 2.6(a) of the Code, 2IL Orthopaedics
Limited is required, by not later than 5.00 p.m. on Tuesday, 4
December 2012, either to announce a firm intention to make an offer
for the Company in accordance with Rule 2.7 of the Code or to
announce that it does not intend to make an offer, in which case
the announcement will be treated as a statement to which Rule 2.8
of the Code applies. This deadline can be extended with the consent
of the Panel in accordance with Rule 2.6(c) of the Code.
A copy of this announcement will be available at
www.coringroup.com
The content of the website referred to in this announcement is
not incorporated into and does not form part of this
announcement.
Enquiries:
Rothschild +44 (0) 20 7280 5000
Julian Hudson
James Lyons
Numis Securities +44 (0) 207 260 1000
Michael Meade
James Black
Rupert Krefting
College Hill +44 (0) 20 7457 2020
Adrian Duffield
Rozi Morris
N.M. Rothschild & Sons Limited ("Rothschild"), which is
authorised and regulated in the United Kingdom by the Financial
Services Authority, is acting exclusively for Corin and for no one
else in connection with the subject matter of this announcement and
will not be responsible to anyone other than Corin for providing
the protections afforded to its clients or for providing advice in
connection with the subject matter of this announcement.
Disclosure requirements of the Takeover Code (the "Code")
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant Securities of an offeree
company or of any paper offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any paper
offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in,
and rights to subscribe for, any relevant securities of each of (i)
the offeree company and (ii) any paper offeror(s). An Opening
Position Disclosure by a person to whom Rule 8.3(a) applies must be
made by no later than 3.30 pm (London time) on the 10th business
day following the commencement of the offer period and, if
appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any paper offeror
is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any paper offeror must make a Dealing
Disclosure if the person deals in any relevant securities of the
offeree company or of any paper offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
paper offeror, save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a
person to whom Rule 8.3(b) applies must be made by no later than
3.30 pm (London time) on the business day following the date of the
relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a paper
Offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. If you are in any doubt as to whether you are required
to make an Opening Position Disclosure or a Dealing Disclosure, you
should contact the Panel's Market Surveillance Unit on +44 (0)20
7638 0129.
Rule 2.10 Requirement
In accordance with Rule 2.10 of the Code, Conqueror confirms
that at the date of this announcement, it has in issue and admitted
to trading on the main market of the London Stock Exchange
42,784,907 ordinary shares of 2.5 pence each (excluding ordinary
shares held in treasury). The International Securities
Identification Number ("ISIN") of the Conqueror Shares is
GB0031526527.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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