Delisting & Rule 2.10 Announcement

 

TIDMAD. 
 
RNS Number : 1377C 
ADL PLC 
06 November 2009 
 

ADL plc 
 
 
Delisting announcement 
 
 
ADL plc ("ADL" or "the Company"), the provider of personal care to the residents 
of care homes it owns or operates in the UK, announced on 26 October 2009 that 
the resolution to delist the entire issued share capital of ADL from AIM was 
duly passed at the Company's AGM.  Cancellation of trading of ADL shares is 
expected to take effect at 7.00 a.m. on 11 November 2009. 
 
 
As previously announced, ADL has appointed its nominated adviser WH Ireland 
Limited, to advise on appropriate ways the Company may consider to enable the 
minority shareholders to realise their investments.  Discussions are at a very 
early stage and there can be no certainty that an offer will be forthcoming.At 
this time there is no update to provide to shareholders. 
 
 
ADL has committed to continue to prepare half-yearly reports and will post all 
shareholders a copy of the half-yearly report to 30 September 2009 in early 
2010. In this report an update of the progress made regarding a route to enable 
the minority shareholders to realise their investments will be given. 
Shareholders will be notified should any material decision be made prior to the 
posting of the half-yearly report. 
 
 
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, the 
Company confirms that it has 9,885,694 Ordinary Shares of 5 pence each in issue 
and until cancellation is admitted to trading on the London Stock Exchange under 
UK ISIN code GB0005739999. 
 
 
Dealing Disclosure Requirements: 
 
 
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the 
"Code"), if any person is, or becomes, "interested" (directly or indirectly) in 
1% or more of any class of "relevant securities" of the Company, all "dealings" 
in any "relevant securities" of that company (including by means of an option in 
respect of, or a derivative referenced to, any such "relevant securities") must 
be publicly disclosed by no later than 3.30 pm (London time) on the London 
business day following the date of the relevant transaction. This requirement 
will continue until the date on which the offer becomes, or is declared, 
unconditional as to acceptances, lapses or is otherwise withdrawn or on which 
the "offer period" otherwise ends. If two or more persons act together pursuant 
to an agreement or understanding, whether formal or informal, to acquire an 
"interest" in "relevant securities" of the Company, they will be deemed to be a 
single person for the purpose of Rule 8.3. 
 
 
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant 
securities" of the Company by the Company, or by any of its respective 
"associates", must be disclosed by no later than 12.00 noon (London time) on the 
London business day following the date of the relevant transaction. 
 
 
A disclosure table, giving details of the companies in whose "relevant 
securities" "dealings" should be disclosed, and the number of such securities in 
issue, can be found on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk. 
 
 
"Interests in securities" arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an "interest" by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
 
 
Terms in quotation marks are defined in the Code, which can also be found on the 
Panel's website. If you are in any doubt as to whether or not you are required 
to disclose a "dealing" under Rule 8, you should consult the Panel. 
 
 
ENQUIRIES 
 
 
+-----------------------------------------+-----------------------------------------+ 
| Contacts:                               |                                         | 
+-----------------------------------------+-----------------------------------------+ 
|                                         |                                         | 
+-----------------------------------------+-----------------------------------------+ 
| ADL plc                                 | www.adlcare.co.uk                       | 
+-----------------------------------------+-----------------------------------------+ 
| Jeremy Davies, Managing Director        | [phone]                    | 
+-----------------------------------------+-----------------------------------------+ 
|                                         |                                         | 
+-----------------------------------------+-----------------------------------------+ 
| WH Ireland Limited                      | www.wh-ireland.co.uk                    | 
+-----------------------------------------+-----------------------------------------+ 
| John Wakefield / Marc Davies            | [phone]                    | 
+-----------------------------------------+-----------------------------------------+ 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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