Mediwatch PLC Extension of deadline under Rule 2.6(c) (2095T)

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RNS Number : 2095T

Mediwatch PLC

15 November 2013

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE

Announcement by the Board of Mediwatch plc ("Mediwatch")

15 November 2013

Extension of deadline under Rule 2.6(c) of the Code

In accordance with Rule 2.6(a) of the Code, Laborie was required, by not later than 5.00 p.m. on 15 November 2013, to either announce a firm intention to make an offer for Mediwatch in accordance with Rule 2.7 of the Code or announce it does not intend to make an offer, unless the Takeover Panel (the "Panel") consented to an extension of the deadline. The Panel has consented to an extension of this deadline up to 5.00 p.m. on 18 November 2013, to enable the parties to conclude their on-going discussions regarding a possible offer for Mediwatch. The revised deadline will only be extended, if requested, with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

Discussions are at an advanced stage but there is no certainty that at the end of this period, an offer for Mediwatch will be made.

A further announcement will be made in due course.

A copy of this announcement will be available on Mediwatch's website (www.mediwatch.com). The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Enquiries:

 
 Mediwatch plc                                 Tel: [phone] 
  Dr Philip Stimpson, Chief Executive / Mark    547 888 
  Hughes, Chief Financial Officer 
 SP Angel Corporate Finance LLP                Tel: +44 (0) 20 
  Financial Adviser, Nominated Adviser and      3463 2260 
  Broker to Mediwatch 
  David Facey / Katy Birkin / Liz Yong 
                                              ----------------- 
 

Important Notice

This announcement is for information purposes only, and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction.

SP Angel Corporate Finance LLP, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively as financial adviser to Mediwatch and no one else in connection with the matters described in this announcement, and will not be responsible for anyone other than Mediwatch for providing the protections afforded to clients of SP Angel Corporate Finance LLP nor for providing advice in relation to the matters referred to in this announcement. Neither SP Angel Corporate Finance LLP nor any of its affiliates, partners or employees owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of SP Angel Corporate Finance LLP in connection with this announcement, any statement contained herein or otherwise.

Disclosure requirements of the Takeover Code (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, 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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