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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
York Pharma | LSE:YRK | London | Ordinary Share | GB00B00QHC86 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMYRK RNS Number : 8239P York Pharma plc 31 March 2009 York Pharma Plc (the "Company") Market update On 20 March 2009, the Board of the Company announced that it was in discussions with two potential offerors and that these discussions included the provision of the necessary short term funding facilities to allow the Company to continue trading through the period needed to complete any formal offer for the Company under the Takeover Code. Discussions with both parties have continued. The Board announces that one of the potential offerors (the "Lender") has today entered into an agreement with the Company to provide the Company with a secured revolving credit facility of up to US$1,000,000 (the "Facility"). The Facility is repayable, along with accrued interest, upon the earlier of (i) 6 months from the date of the first draw down under the facility agreement; and (ii) 30 days after the termination of any potential offer discussions. After the initial drawdown, any subsequent drawdowns under the Facility will be at the sole and absolute discretion of the Lender. The Board believes that the drawdown of the full Facility should allow the Company to continue trading through the period needed to complete any formal offer for the Company by the Lender under the Takeover Code. The Board of the Company wishes to stress that there can be no certainty that the discussions will lead to an offer being made for the Company. The Board will provide a further update as and when appropriate. For more information please contact: +--------------------------------------+--------------------------------------+ | York Pharma Plc | Tel: +44 (0) 1908 764 020 | | Richard Anderson, Chief Executive | | | Officer | | | Ian Miscampbell, Chief Financial | | | Officer | | | | | +--------------------------------------+--------------------------------------+ | Collins Stewart Europe Limited | Tel: +44 (0) 207 523 8350 | | Hugh Field / Adam Cowen | | | | | +--------------------------------------+--------------------------------------+ | Financial Dynamics | Tel: +44 (0) 207 831 3113 | | Ben Brewerton / Emma Thompson | | +--------------------------------------+--------------------------------------+ Collins Stewart Europe Limited ("Collins Stewart") which is regulated in the United Kingdom by The Financial Services Authority is acting for the Company 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 the Company for providing the protections afforded to customers of Collins Stewart or for providing advice in relation to the matters described in this announcement. About York Pharma (YRK.L) York Pharma is a pharmaceutical group, established in 2003, which develops, markets and supplies branded dermatological products to pharmaceutical wholesalers, hospitals and general practitioners within the field of dermatology. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City 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 the 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 Business Day following the date of the relevant transaction. This requirement will continue until the offer lapses or is otherwise withdrawn or the date 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 of the City Code. Under the provisions of Rule 8.1 of the City Code, all "dealings" in "relevant securities" of the Company by the Company, the Lender or their "associates" must be disclosed by no later than 12.00 noon (London time) on the 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 City 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. This information is provided by RNS The company news service from the London Stock Exchange END MSCWUUGWWUPBGPG
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