TIDMSBS

RNS Number : 8974C

Source BioScience PLC

01 July 2016

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.

Source BioScience plc

("Source BioScience" or the "Company")

Extension of PUSU Deadline

On 3 June 2016, the Board of Source BioScience announced that it had received an approach from Continental Investment Partners SA ("Continental") and Harwood Capital LLP ("Harwood Capital") (together, the "Joint Offerors") which may or may not lead to an offer being made to acquire the entire issued and to be issued ordinary share capital of the Company at 18 pence per ordinary share of 2 pence each in the capital of Source BioScience (the "Possible Offer").

The announcement stated that any announcement of a Firm Offer in accordance with Rule 2.7 of the Code would be subject to, amongst other things, a deadline of 5.00pm (UK time) on 1 July 2016 (the "PUSU Deadline").

Discussions with the Joint Offerors are ongoing and the Board of Source BioScience has requested that the Panel extend the PUSU Deadline. In the light of this request, an extension has been granted by the Panel and in accordance with Rule 2.6(a) of the Code the Joint Offerors must, by no later than 5.00pm (UK time) on 29 July 2016, either announce a Firm Offer or announce that it does not intend to make an offer for the Company, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

There can be no certainty that the Joint Offerors will proceed to make a Firm Offer for the Company. This statement is being made with the agreement of the Joint Offerors. Further announcements will be made in due course.

Enquiries:

 
 Source BioScience plc           Tel. +44 (0) 
  Laurie Turnbull                 115 973 9010 
  Dr Nick Ash 
 N+1 Singer (Financial Advisor   Tel. +44 (0) 
  to Source BioScience)           20 7496 3000 
  Nic Hellyer 
  James White

Nplus1 Singer Advisory LLP ("N+1 Singer"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for the Company as financial advisor and broker in relation to the Possible Offer and is not acting for any other person in relation to such Possible Offer. N+1 Singer will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this announcement or any Possible Offer or any other arrangement referred to herein.

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 Source BioScience 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) Source BioScience 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 p.m. (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 p.m. (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 Source BioScience 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 Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of Source BioScience or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of Source BioScience 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) Source BioScience 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 p.m. (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 Source BioScience or a securities exchange 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 Source BioScience and by any offeror and Dealing Disclosures must also be made by Source BioScience, 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. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

This announcement does not constitute an offer to purchase any securities, or an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer to purchase or sell securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The release, distribution or publication of this announcement in jurisdictions other than the UK may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the UK should inform themselves about and observe any applicable requirements.

Publication on website

A copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) on the Source BioScience plc website at www.sourcebioscience.com by no later than 12 noon (London time) on the business day following this announcement.

For the avoidance of doubt, the content of the website referred to above is not incorporated into and does not form part of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCSDIFWSFMSEDM

(END) Dow Jones Newswires

July 01, 2016 02:00 ET (06:00 GMT)

Source Bioscience (LSE:SBS)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024 Plus de graphiques de la Bourse Source Bioscience
Source Bioscience (LSE:SBS)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024 Plus de graphiques de la Bourse Source Bioscience