Updated Scheme Timetable
June 08 2010 - 7:11AM
UK Regulatory
TIDMMOR
RNS Number : 2490N
Morse PLC
08 June 2010
FOR IMMEDIATE RELEASE
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 that jurisdiction
8 June 2010
Updated Scheme Timetable
The Boards of Morse plc ("Morse") today provides an update to the timetable for
the proposed acquisition of Morse by 2e2 Limited by way of a Scheme of
Arrangement.
The timetable has been reduced with permission of the Court. Please note that
the following timetable is indicative only and may be subject to change.
+---------------------------------------------------------+------------+
| Last day of dealings in Morse Shares | 16 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Scheme Court Hearing | 16 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Dealings in Morse Shares suspended | 17 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Reduction Record Time | 17 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Reduction Court Hearing | 18 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Effective Date of the Scheme | 21 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Cancellation of admission of Morse Shares | 21 June |
| | 2010 |
+---------------------------------------------------------+------------+
| Latest date for despatch of cheques and settlement | 4 July |
| through CREST | 2010 |
+---------------------------------------------------------+------------+
Capitalised terms used but not defined in this announcement have the same
meanings as given to them in the circular containing the Scheme that was sent to
Morse Shareholders on 30 April 2010.
A copy of this announcement will be available on the Morse website at
www.morse.com by no later than 12 noon on [9 June] 2010.
ENQUIRIES
+---------------------------------------+------------------------+
| Morse | |
+---------------------------------------+------------------------+
| | |
+---------------------------------------+------------------------+
| Morse plc | +44 (0)20 8380 8000 |
+---------------------------------------+------------------------+
| Mike Phillips, Chief Executive | |
| Officer | |
+---------------------------------------+------------------------+
| Guy Millward, Group Finance Director | |
+---------------------------------------+------------------------+
| | |
+---------------------------------------+------------------------+
| Investec, Financial Adviser and | +44 (0)20 7597 4000 |
| Broker to Morse | |
+---------------------------------------+------------------------+
| Andrew Pinder | |
+---------------------------------------+------------------------+
| Patrick Robb | |
+---------------------------------------+------------------------+
| Dominic Emery | |
+---------------------------------------+------------------------+
| | |
+---------------------------------------+------------------------+
| Financial Dynamics, PR adviser to | +44 (0)20 7831 3113 |
| Morse | |
+---------------------------------------+------------------------+
| Charles Palmer | |
+---------------------------------------+------------------------+
| Haya Herbert-Burns | |
+---------------------------------------+------------------------+
| Nicola Biles | |
+---------------------------------------+------------------------+
| | |
+---------------------------------------+------------------------+
Dealing disclosure requirements
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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