TIDMHYNS
RNS Number : 4488I
Haynes Publishing Group PLC
01 April 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
1 April 2020
RECOMMED CASH OFFER
for
Haynes Publishing Group P.L.C. ("Haynes")
by
Infopro Digital (Holdco) Limited ("Bidco")
a wholly owned subsidiary of Infopro Digital Group B.V.
("Infopro Digital")
Court sanction of the scheme of arrangement
Haynes announces that the High Court of Justice in England and
Wales has today sanctioned the scheme of arrangement under Part 26
of the Companies Act 2006 (the "Scheme") by which the recommended
all cash offer for the entire issued and to be issued ordinary
share capital of Haynes (the "Acquisition") by Bidco, is being
implemented. The Scheme has become fully unconditional, subject
only to the delivery of a copy of the Court Order to the Registrar
of Companies.
It is anticipated that the Effective Date will be 3 April 2020,
being the date on which a copy of the Court Order is expected to be
delivered to the Registrar of Companies.
The Scheme Record Time will be 6.00 p.m. (London time) on 2
April 2020. No transfers of Haynes Shares will be registered after
this time.
It is expected that the listing of the Haynes Ordinary Shares on
the Official List of the FCA and the trading of the Haynes Ordinary
Shares on the Main Market of the London Stock Exchange will each be
suspended, effective from 7.30 a.m. (London time), 3 April 2020
and, subject to the Scheme becoming effective on 3 April 2020, will
each be cancelled, effective from 8.00 a.m. (London time) on 6
April 2020.
Full details of the Scheme are set out in the scheme document
published on 2 March 2020 (the Scheme Document). Unless otherwise
defined, all capitalised terms in this announcement shall have the
meaning given to them in the Scheme Document.
Enquiries:
Infopro Digital (via Brunswick)
Christophe Czajka, Founder and Executive Chairman
Julien Elmaleh, Chief Executive Officer
Raymond James (Financial Adviser to Infopro +44 (0) 20 3798
Digital) 5700
Dominic Emery
Stuart Sparkes
Media Enquiries: Brunswick +44 (0) 20 7404
(Financial PR Adviser to Infopro Digital) 5959
Gill Ackers
Harry McHugh
Haynes (via New Century Media)
Eddie Bell, Group Chairman
J Haynes, Chief Executive Officer
+44 (0) 20 7451
Europa Partners (Financial Adviser to Haynes) 4523
Paul Zisman
+44 (0) 20 7886
Panmure Gordon (Corporate Broker to Haynes) 2500
James Stearns
Media Enquiries: New Century Media +44 (0) 20 7930
(Financial PR Adviser to Haynes) 8033
David Burnside
Important notices
Raymond James, which is authorised and regulated by the
Financial Conduct Authority in the United Kingdom, is acting
exclusively as financial adviser to Infopro Digital and no one else
in connection with the Acquisition and shall not be responsible to
anyone other than Infopro Digital for providing the protections
afforded to clients of Raymond James nor for providing advice in
connection with the Acquisition or any matter referred to in this
Announcement.
Europa Partners, which is authorised and regulated by the
Financial Conduct Authority in the United Kingdom, is acting
exclusively for Haynes and for no one else in connection with the
Acquisition and shall not be responsible to anyone other than
Haynes for providing the protections afforded to clients of Europa
Partners nor for providing advice in connection with the
Acquisition or any matter referred to in this Announcement.
Panmure Gordon, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as corporate
broker to Haynes and no-one else in connection with the subject
matter of this Announcement and will not be responsible to anyone
other than Haynes for providing the protections afforded to its
clients or for providing advice in connection with the subject
matter of this Announcement.
Apart from the responsibilities and liabilities, if any, which
may be imposed on Raymond James, Europa Partners and Panmure Gordon
by the FSMA or the regulatory regime established thereunder or
under the Takeover Code, each of Raymond James, Europa Partners and
Panmure Gordon does not make any representation express or implied
in relation to, nor accepts any responsibility whatsoever for, the
contents of this Announcement, or any other statement made or
purported to be made by it or on its behalf in connection with
Haynes, the Acquisition or the other arrangements referred to in
this Announcement.
Each of Raymond James, Europa Partners and Panmure Gordon (and
their respective subsidiaries, branches and affiliates)
accordingly, to the fullest extent permissible by law, disclaims
all and any responsibility or liability (save for any statutory
liability, including liability arising under the Takeover Code,)
whether arising in tort, contract or otherwise which it might have
in respect of the contents of this Announcement or any other
statement made or purported to be made by it or on its behalf in
connection with Haynes or the Acquisition or the other arrangements
referred to in this Announcement.
Further information
This Announcement is for information purposes only and is not
intended to and does not constitute, or form part of, any offer,
invitation, inducement or the solicitation of an offer to purchase
or otherwise acquire, subscribe for, sell or otherwise dispose of
or exercise rights in respect of any securities, or the
solicitation of any vote or approval of an offer to buy securities
in any jurisdiction (pursuant to the Acquisition or otherwise) nor
shall there be any sale, issuance or transfer of any securities
pursuant to the Acquisition in any jurisdiction in contravention of
any applicable laws.
The Acquisition will be made solely by means of the Scheme
Document or any document by which the Takeover Offer is made, which
will contain the full terms and conditions of the Acquisition,
including details of how to vote in respect of the Scheme. Any
decision, vote or other response in respect of the Acquisition
should be made only on the basis of information contained in the
Scheme Document. Haynes will prepare the Scheme Document to be
distributed to Haynes Shareholders at no cost to them. Haynes
Shareholders are advised to read the formal documentation in
relation to the Acquisition carefully once it becomes available
because it will contain important information relating to the
Acquisition.
This Announcement does not constitute a prospectus or
prospectus-equivalent document.
This Announcement has been prepared for the purpose of complying
with English law and the Code and the information disclosed 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.
Overseas jurisdictions
The release, publication or distribution of this Announcement in
certain jurisdictions other than the United Kingdom may be
restricted by law and the ability of Haynes Shareholders who are
not resident in the United Kingdom to participate in the
Acquisition may be restricted by the laws and/or regulations of
those jurisdictions. In particular, the ability of persons who are
not resident in the United Kingdom to vote their Scheme Shares with
respect to the Scheme at the Court Meeting or with respect to the
Special Resolution at the General Meeting, or to execute and
deliver Forms of Proxy appointing another to vote at the Court
Meeting and/or General Meeting on their behalf, may be affected by
the laws of the relevant jurisdictions in which they are located.
Therefore, any persons who are subject to the laws and regulations
of any jurisdiction other than the United Kingdom or Haynes
Shareholders who are not resident in the United Kingdom should
inform themselves of, and observe, any applicable requirements in
their jurisdiction. Any failure to comply with the applicable
requirements may constitute a violation of the laws and/or
regulations of any such jurisdiction.
The Acquisition will not be made, directly or indirectly, in,
into or from a Restricted Jurisdiction where to do so would violate
the laws of that jurisdiction and no person may vote in favour of
the Acquisition by any use, means, instrumentality or form within a
Restricted Jurisdiction or any other jurisdiction if to do so would
constitute a violation of the laws of that jurisdiction.
Accordingly, copies of this Announcement and any formal
documentation relating to the Acquisition are not being, and must
not be, directly or indirectly, mailed or otherwise forwarded,
distributed or sent in or into or from any Restricted Jurisdiction
and persons receiving such documents (including custodians,
nominees and trustees) must not mail or otherwise forward,
distribute or send them in or into or from any Restricted
Jurisdiction.
Further details in relation to Haynes Shareholders in overseas
jurisdictions will be contained in the Scheme Document.
Notice to US investors
Haynes Shareholders in the United States should note that the
Acquisition relates to the securities of a company organised under
the laws of England and Wales and is proposed to be effected by
means of a scheme of arrangement under the laws of England and
Wales. This Announcement, the Scheme Document and certain other
documents relating to the Acquisition have been or will be prepared
in accordance with English law, the Code and UK disclosure
requirements, format and style, all of which differ from those in
the United States. A transaction effected by means of a scheme of
arrangement is not subject to the tender offer rules or the proxy
solicitation rules under the US Exchange Act. Accordingly, the
Acquisition is subject to the disclosure requirements of and
practices applicable in the United Kingdom to schemes of
arrangement, which differ from the disclosure requirements of the
United States tender offer and proxy solicitation rules.
None of the securities referred to in this Announcement have
been approved or disapproved by the US Securities and Exchange
Commission, any state securities commission in the United States or
any other US regulatory authority, nor have such authorities passed
upon or determined the adequacy or accuracy of the information
contained in this document. Any representation to the contrary is a
criminal offence in the United States.
Haynes's financial statements, and all financial information
that is included in this Announcement or that may be included in
the Scheme Document, or any other documents relating to the
Acquisition, have been or will be prepared in accordance with
International Financial Reporting Standards and may not be
comparable to financial statements of companies in the United
States or other companies whose financial statements are prepared
in accordance with US generally accepted accounting principles.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Takeover Code, any person who is
interested in 1% or more of any class of relevant securities of an
offeree company or of any securities exchange 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 securities exchange 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 securities exchange 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 securities exchange offeror
is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a securities exchange
offeror prior to the deadline for making an Opening Position
Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Takeover 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 securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange 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 securities exchange
offeror(s), 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
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Publication on website and availability of hard copies
A copy of this Announcement and the display documents required
to be published pursuant to Rule 26 of the Code will be made
available free of charge, subject to certain restrictions relating
to persons resident in Restricted Jurisdictions, on Haynes's
website at www.haynes.com/investor and on Infopro Digital's website
at https://www.infopro-digital.com/group/finance by no later than
12 noon (London time) on 2 March 2020. Neither the content of any
website referred to in this Announcement nor the content of any
website accessible from hyperlinks is incorporated into, or forms
part of, this Announcement.
Any person who is required to be sent a copy of this
Announcement under the Code, and who has not received a hard copy
of it, may request a hard copy of this Announcement (and any
information incorporated by reference in this Announcement) by
submitting a request in writing to Link Asset Services, The
Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU or by calling
Link Asset Services on 0371 664 0321 or +44 (0) 371 664 0321 if
calling from outside the United Kingdom. Calls are charged at the
standard geographic rate and will vary by provider. Calls outside
the United Kingdom will be charged at the applicable international
rate. The helpline is open between 8:30 a.m. and 5:30 p.m., Monday
to Friday excluding public holidays in England and Wales. Please
note that Link Asset Services cannot provide any financial, legal
or tax advice and calls may be recorded and monitored for security
and training purposes.
Save as otherwise referred to above, a hard copy of this
Announcement will not be sent unless requested. Any such person may
also request that all future documents, announcements and
information in relation to the Acquisition should be sent to them
in hard copy form.
Electronic communications
Please be aware that all addresses, electronic addresses (if
any) and certain other information provided by the Haynes
Shareholders, persons with information rights and other relevant
persons for the receipt of communications from Haynes may be
provided to offerors (including Bidco) during the Offer Period as
required under Section 4 of Appendix 4 of the Code to comply with
Rule 2.11(c) of the Code.
General
If you are in any doubt about the contents of this Announcement
or the action you should take, you are recommended to seek your own
independent financial advice immediately from your stockbroker,
bank manager, solicitor or independent financial adviser duly
authorised under the Financial Services and Markets Act 2000 (as
amended) if you are resident in the United Kingdom or, if not, from
another appropriate authorised independent financial adviser.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
SOAUAUORRAUSRAR
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