Company Issues Statement Regarding Supporta plc

 

TIDMAHI TIDMSOR 
 
RNS Number : 6701E 
Allied Healthcare International Inc 
23 December 2009 
 

Company Issues Statement Regarding Supporta plc 
 
 
NEW YORK, NY--(Marketwire - December 23, 2009) - Allied Healthcare International 
Inc. (NASDAQ: AHCI) (AIM: AHCI) ("Allied" or the "Company") notes the 
speculation in today's press, regarding a potential cash offer for Supporta plc 
("Supporta"). Allied can confirm that it has submitted an indicative cash offer 
for the entire issued share capital of Supporta, which is subject to, amongst 
other things, due diligence. Discussions with the Board of Supporta and its 
advisers are ongoing and Allied is currently undertaking a due diligence 
exercise. It should be noted that there is no certainty that an offer will be 
forthcoming or, in the event that one is made, on what terms. 
 
 
This announcement does not constitute an announcement of a firm intention to 
make an offer under Rule 2.5 of the City Code on Takeovers and Mergers (the 
"Code"). A further announcement will be made when appropriate. 
 
 
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. 
 
 
Dealing Disclosure Requirements 
 
 
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 
"interested" (directly or indirectly) in 1 per cent. or more of any class of 
"relevant securities" of Allied or of Supporta, 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 3:30pm (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acceptances, lapses or is otherwise withdrawn or on which the "offer period" 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 Allied or Supporta, 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 Supporta by Allied or Supporta, or by any of their 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 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, please contact an independent financial 
adviser authorised under the Financial Services and Markets Act 2000, consult 
the Panel's website at www.thetakeoverpanel.org.uk or contact the Panel on 
telephone number [phone]; fax [phone]. 
 
 
The Directors of the Company accept responsibility for the information contained 
in this announcement. To the best of the knowledge and belief of the Directors 
of the Company (who have taken all reasonable care to ensure that such is the 
case) the information contained in this announcement is in accordance with the 
facts and does not omit anything likely to impact the import of this 
announcement. 
 
 
Piper Jaffray Ltd. ("Piper Jaffray"), which is regulated in the United Kingdom 
by the Financial Services Authority, is acting for Allied in relation to the 
matters described in this announcement and is not advising any other person, and 
accordingly will not be responsible to anyone other than Allied for providing 
the protections afforded to customers of Piper Jaffray or for providing advice 
in relation to the matters described in this announcement. 
 
 
ABOUT ALLIED HEALTHCARE INTERNATIONAL INC. 
 
 
Allied Healthcare International Inc. (http://www.alliedhealthcare.com) is a 
leading provider of flexible healthcare staffing services in the United Kingdom. 
Allied operates a community-based network of 112 branches with the capacity to 
provide carers (known as home health aides in the U.S.), nurses, and specialized 
medical personnel to locations covering approximately 90% of the U.K. 
population. Allied meets the needs of private patients, community care, nursing 
and care homes, and hospitals. For more news and information please visit: 
www.alliedhealthcare.com. 
 
 
FORWARD-LOOKING STATEMENTS 
 
 
Certain statements contained in this news release may be forward-looking 
statements. These forward-looking statements are based on current expectations 
and projections about future events. Actual results could differ materially from 
those discussed in, or implied by, these forward-looking statements. Factors 
that could cause actual results to differ from those implied by the 
forward-looking statements include: general economic and market conditions; 
Allied's ability to continue to recruit and retain flexible healthcare staff; 
the H1N1 influenza virus which may result in staff being unable to perform 
services due to their own illness or due to the illness of patients and may 
reduce our revenues; Allied's ability to enter into contracts with local 
government social services departments, NHS Trusts, hospitals, other healthcare 
facility clients and private clients on terms attractive to Allied; the general 
level of demand for healthcare and social care; dependence on the proper 
functioning of Allied's information systems; the effect of existing or future 
government regulation of the healthcare and social care industry, and Allied's 
ability to comply with these regulations; the impact of medical malpractice and 
other claims asserted against Allied; the effect of regulatory change that may 
apply to Allied and that may increase costs and reduce revenues and 
profitability; Allied's ability to use net operating loss carry forwards to 
offset net income; the effect that fluctuations in foreign currency exchange 
rates may have on our dollar-denominated results of operations; and the 
impairment of goodwill, of which Allied has a substantial amount on the balance 
sheet, may have the effect of decreasing earnings or increasing losses. Other 
factors that could cause actual results to differ from those implied by the 
forward-looking statements in this press release include those described in 
Allied's most recently filed SEC documents, such as its most recent annual 
report on Form 10-K, all quarterly reports on Form 10-Q and any current reports 
on Form 8-K filed since the date of the last Form 10-K. Allied undertakes no 
obligation to publicly update or revise any forward-looking statements, whether 
as a result of new information, future events, or otherwise. 
 
 
Enquiries: 
Allied Healthcare International Inc. 
Sandy Young 
Chief Executive Officer 
Paul Weston 
Chief Financial Officer 
01785 810600 
 
 
Piper Jaffray Ltd. (financial adviser to Allied) 
Matthew Flower 
020 3142 8702 
 
 
Cenkos Securities (nominated adviser to Allied) 
Ian Soanes 
020 7397 8900 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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