Clarification Regarding Media Reports

RNS Number : 9616F

Iofina PLC

12 March 2020

 

FOR IMMEDIATE RELEASE

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

THIS IS AN ANNOUNCEMENT CONTAINS A STATEMENT FALLING UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

12 March 2020

Iofina plc

("Iofina", the "Group", or the "Company")

(LSE AIM: IOF)

Clarification Regarding Media Reports

Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, can confirm, following a request for clarification made to him, that Mr. Arron Banks has informed the Company that he does not intend to make an offer for the Company.

Mr. Banks, and an associate of his, had made a number of statements through the media indicating that he was actively considering a possible offer for the entire issued and to be issued share capital of Iofina (the "Possible Offer"). Until today, the Company had not received any communications regarding the Possible Offer from Mr. Banks.

This is a statement to which Rule 2.8 of The City Code on Takeovers and Mergers (the "Code") applies and Mr. Banks has consented to the restrictions of Rule 2.8 of the Code.

Under Rule 2.8 of the Code, Mr. Banks and any person acting in concert with him will be subject to the restrictions in Rule 2.8 that include, interalia, that for a period of six months from the date of this announcement they shall not announce an offer or possible offer for Iofina.

The requisition previously announced on 10 March 2020 is unaffected.

Enquiries:

Dr. Tom Becker

CEO & President

Iofina plc

Tel: [phone]

Christopher Raggett/Giles Rolls/Matthew Radley (corporate finance)

Camille Gochez (ECM)

finnCap Ltd

Tel: [phone]

Media Contact:

Charles Goodwin/Joe Burgess

Yellow Jersey PR Limited

Tel: [phone]

About Iofina:

Iofina plc (AIM: IOF) is a vertically integrated Company that specialises in the production of iodine and the manufacturing of specialty chemical products. As the second largest producer of iodine in North America, it comprises three USA entities; Iofina Resources, Iofina Chemical and IofinaEX.

LEI: 213800QDMFYVRJYYTQ84

ISIN: GB00B2QL5C79

Iofina Resources

Iofina Resources develops, builds, owns and operates iodine extraction plants using Iofina's WET® IOsorb® technology. Iofina currently operates four producing IOsorb® plants in Oklahoma, is building a fifth site, and is consistently using technology and innovation to improve and expand its operations. 

Iofina Chemical

Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine based products for over 35 years.

IofinaEX

Iofina's newest subsidiary, IofinaEX, is fully licensed to process hemp in the state of Kentucky and is exploring the isolation of specialty chemical products from hemp, a rapidly expanding market.

www.iofina.com

 

END

 

 

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