Response to price movement
Synexus Clinical Research PLC
19 October 2007
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO
19 October 2007
Synexus Clinical Research PLC (the "Company")
Response to share price movement
In response to the recent movement in the Company's share price, the Company's
Board announces that it has received an approach and is currently in preliminary
discussions which may or may not lead to an offer for the entire issued and to
be issued share capital of the Company.
The Company has appointed Brewin Dolphin Limited to advise it on its strategic
options but there is no guarantee that an offer or any other transaction may
arise from this strategic review. Accordingly, shareholders are advised to take
no action at this stage but to await further developments.
Further announcements will be made as appropriate.
Pursuant to Rule 2.10 of the City Code, the Company announces that it has
23,154,172 ordinary shares of 10p each in issue (ISIN GB00B0L20P93).
Enquiries:
Synexus Clinical Research PLC
Malcolm Hughes, Chairman 07785 224008
Brewin Dolphin Limited (Financial and Nominated Adviser
to the Company)
Mark Brady 0845 270 8601
Richard Evans 0845 270 8602
The distribution of this announcement into jurisdictions other than the United
Kingdom may be restricted by law and therefore persons into whose possession
this announcement comes should inform themselves about and observe such
restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities laws of any such jurisdiction.
The Directors of the Company accept responsibility for the information contained
in this announcement. To the best of knowledge and belief of the Directors, who
have taken all reasonable care to ensure such is the case, the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.
Brewin Dolphin Limited is acting for the Company and no one else in connection
with this announcement and will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Brewin Dolphin
Limited or for providing advice in relation to the contents of this
announcement.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"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 that 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 London
business day following the date of the relevant transaction. This requirement
will continue until the date on which the offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or 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.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant
securities" of the Company by the Company, or by any of their respective
"associates", must be disclosed by no later than 12:00 noon (London time) on the
London 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 Takeover 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 the virtue of any option
in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the 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