Sepura PLC Extension of PUSU Deadline (4812Q)

TIDMSEPU

RNS Number : 4812Q

Sepura PLC

30 November 2016

30 November 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.

This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the Takeover Code (the "Code"). Accordingly, there can be no certainty that an offer will be made, nor as to the terms of any such offer.

Sepura plc ("Sepura" or "the Company")

Extension of PUSU Deadline

On 4 November 2016, the Company announced that it was in preliminary talks with Hytera Communications Corporation Limited ("Hytera") regarding a possible offer for the entire issued and to be issued share capital of the Company. The announcement stated that any firm intention to make an offer in accordance with Rule 2.7 of the Code would be subject to a deadline of 5.00pm on 2 December 2016 (the "PUSU Deadline").

Positive discussions are continuing between the Company and Hytera but there can be no certainty that any offer will be forthcoming.

The Board of Sepura has requested that the Panel on Takeovers and Mergers (the "Panel") extend the PUSU Deadline. In light of this request, an extension has been granted by the Panel and in accordance with Rule 2.6(a) of the Code, Hytera is required, by not later than 5.00pm on 9 December 2016, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that they do 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 may be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

A further announcement will be made when appropriate. This announcement is being made with the prior approval of Hytera.

Enquiries:

 
 Lazard (Financial Adviser 
  to Sepura)                     [phone] 
 Cyrus Kapadia / Nicholas 
  Page 
 Instinctif Partners             [phone] 
 Adrian Duffield / Kay Larsen 
  / Chantal Woolcock 
 

MAR

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Disclaimer

Lazard & Co., Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Sepura and for no one else in connection with the possible offer and will not be responsible to anyone other than Sepura for providing the protections afforded to its clients or for providing advice in connection with the possible offer referred to in this announcement.

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 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 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.

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. You should contact the Panel's Market Surveillance Unit on [phone] if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Publication of this announcement

A copy of this announcement will be made available subject to certain restrictions relating to persons resident in restricted jurisdictions on the Company's website (www.sepura.com) no later than 12 noon (London time) on 1 December 2016. The content of the website referred to in this announcement 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

OUPBIBDBSXDBGLC

(END) Dow Jones Newswires

November 30, 2016 02:00 ET (07:00 GMT)