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RNS Number : 2602W
26 January 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
Press Release 26 January 2012
("Hamworthy" or the "Group")
Recommended Acquisition of Hamworthy plc ("Hamworthy")
by Wartsila Technology Oy Ab ("Wartsila"), a wholly-owned subsidiary of
Wartsila Corporation (the "Acquisition")
Court sanction of Scheme
The directors of Hamworthy and Wartsila are pleased to announce that the High Court of Justice (the "Court") has today made an order sanctioning the Scheme of Arrangement by which Wartsila's Acquisition of Hamworthy is being implemented.
In order for the Scheme to become effective in accordance with its terms, the Court will now need to confirm the associated Reduction of Capital at the Reduction Court Hearing. This hearing will take place on 30 January 2012. It is expected that dealings in Hamworthy Shares will be suspended at 7.30 a.m. on 30 January 2012 and the Scheme will become Effective on 31 January 2012.
A detailed timetable of events for the Scheme is set out in the scheme document dated 13 December 2011 (the "Scheme Document").
Terms defined in the Scheme Document shall have the same meaning(s) when used in this announcement.
In accordance with Rule 2.10 of the Code, Hamworthy confirms that it has 46,726,848 ordinary shares of 5 pence each in issue and admitted to trading on the London Stock Exchange under the UK ISIN code GB00B01VFV79.
For further information:
Joe Oatley, Chief Executive Tel: +44 (0) 1202
Paul Crompton, Finance Director www.hamworthy.com
Graham Lockyer, Head of IR
Hawkpoint Partners Limited
(Financial adviser to Hamworthy)
Christopher Kemball Tel: +44 (0) 20 7665
Colin Christie www.hawkpoint.com
Numis (Broker to Hamworthy)
Christopher Wilkinson Tel: +44 (0) 20 7260
Abchurch (Public relations adviser to
Henry Harrison-Topham / Quincy Allan Tel: +44 (0) 20 7398
Atte Palomaki, Group Vice President, Tel: +358 10 709
Communications & Branding 5219
Pauliina Tennila, Director, Investor Tel: +358 40 570
UBS Investment Bank (Financial adviser Tel: +44 (0) 20 7567
to Wartsila) 8000
Tulchan (Public relations adviser to
Stephen Malthouse / Martha Kelly Tel: +44 (0) 20 7353
Hawkpoint, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively as financial advisor to Hamworthy and no one else in connection with the Acquisition and will not be responsible to anyone other than Hamworthy for providing the protections afforded to customers of Hawkpoint nor for providing advice in relation to the Acquisition or any other matter referred to in this document.
Numis, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Hamworthy and no one else in connection with the Acquisition and will not be responsible to anyone other than Hamworthy for providing the protections afforded to the customers of Numis nor for providing advice in relation to the Acquisition or any other matter referred to in this document.
UBS is exclusively acting for Wartsila and Wartsila Corporation and no one else in connection with the Acquisition and will not be responsible to anyone other than Wartsila and Wartsila Corporation for providing the protections offered to clients of UBS nor for providing advice in relation to the Acquisition or the contents of this or any transaction or arrangement referred to herein.
This information is provided by RNS
The company news service from the London Stock Exchange