Suspension of Fundraising Process
June 30 2010 - 7:23AM
UK Regulatory
TIDMAXD
RNS Number : 5293O
Alexandra PLC
30 June 2010
Alexandra PLC
("Alexandra" or "the Company")
Suspension of Fundraising Process and commencement of Offer Period
The Company previously announced, on 8 March 2010 and 30 April 2010, that it
intended to undertake an equity fundraising following completion of the audit of
the Company's accounts for the 14 month period ended 31 March 2010.
The Board now announces that following an unsolicited preliminary approach,
which may or may not lead to an offer being made for the Company or its assets,
the fundraising process has been suspended whilst the Board re-examines a
possible sale of the Company or its assets, in conjunction with its bankers.
As previously announced the Company's current debt facilities remain repayable
on demand.
No assurance can be given that the preliminary approach or examination of a sale
will lead to an offer for either the Company or any or all of its assets or,
furthermore, whether any such transaction (if one occurs) would be at a value
that would lead to a return for shareholders.
This announcement commences an Offer Period for the purposes of the City Code on
Takeovers and Mergers (the "Code"). In accordance with Rule 2.10 of the Code the
Company confirms that, as at the close of business on 29 June 2010, it had
33,409,654 ordinary shares of 10 pence each in issue. The International
Securities Identification Number for the Ordinary Shares is GB0000143353.
30 June 2010
-Ends-
Enquiries:
+------------------------------+------------------------------+
| Alexandra plc | 01454 876 003 |
| Tim Gifford, CEO | |
+------------------------------+------------------------------+
| Arden Partners plc | 020 7614 5900 |
| Richard Day, Fred Walsh | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Evolution Securities | 020 7071 4300 |
| Tim Worlledge, Adam Lloyd | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Pelham Bell Pottinger | 020 7861 3117 |
| Gavin Davis, Charles Goodwin | |
+------------------------------+------------------------------+
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 paper 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 paper 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 paper 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
paper offeror is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper 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
paper offeror must make a Dealing Disclosure if the person deals in any relevant
securities of the offeree company or of any paper 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 paper 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 paper 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. If you are in any doubt as to whether you are required to make
an Opening Position Disclosure or a Dealing Disclosure, you should contact the
Panel's Market Surveillance Unit on +44 (0)20 7638 0129.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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