TIDMDRS
RNS Number : 5879E
DRS Data & Research Services PLC
19 July 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH 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 ANY SUCH
OFFER WILL BE MADE
DRS Data & Research Services plc ("DRS" or the
"Company")
Possible Offer
The Directors of the Company have noted the rise in the
Company's share price over recent days. The Company announces that
it has received an approach which may or may not lead to the
acquisition of the Company by AQA Education ("AQA").
There can be no certainty the acquisition will occur or of the
timing or exact terms of any such transaction.
In accordance with Rule 2.6(a) of the Code, AQA is required, by
no later than 5.00 pm on 16 August 2016 to do one of the
following:
i) Announce a firm intention to make an offer for DRS in
accordance with Rule 2.7 of the Code; or
ii) 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.
The Company will keep the shareholders informed if there is any
material development by making the appropriate announcement in
compliance with the Code. In the meantime shareholders are urged to
take no action.
For further information please contact:
DRS Data & Research Services
plc
John Richardson
www.drs.co.uk/investors 01908 666 088
Financial Adviser
Arden Partners plc
Steve Douglas 0207 614 5900
In accordance with Rule 2.10 of the Code, the Company has
32,691,600 ordinary shares of 5 pence each in issue. The
International Securities Identification Number ("ISIN") for the
Company is GB0002502580.
Arden Partners plc, which is authorised and regulated in the UK
by the Financial Conduct Authority, is acting for DRS and no-one
else in connection with the potential offer and will not regard any
other person as a client in relation to the potential offer and
will not be responsible to anyone other than DRS for providing the
protections afforded to its clients or for providing advice in
relation to the potential offer or any matters referred to in this
announcement.
Overseas jurisdictions
The release, publication or distribution of this announcement in
jurisdictions other than the United Kingdom may be restricted by
law and therefore any persons who are subject to the laws of any
jurisdiction other than the United Kingdom should inform themselves
about, and observe, any applicable requirements. The information
disclosed in this announcement may not be the same as that which
would have been disclosed if this announcement had been prepared in
accordance with the laws of jurisdictions outside the United
Kingdom.
Disclosure requirements of 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 DRS 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) DRS 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 DRS 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 DRS
or of any paper offeror must make a Dealing Disclosure if the
person deals in any relevant securities of DRS 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) DRS
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 DRS 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 DRS and by any
offeror and Dealing Disclosures must also be made by DRS, 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.
Publication of this announcement
In accordance with Rule 26.1 of the Code, a copy of this
announcement will be available on the Company's website
(www.drs.co.uk) by no later than 12 noon (London time) on the
business day following this announcement. The content of the
website referred to in this announcement is not incorporated into
and do not form part of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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