Intec Telecom Systems PLC
08 May 2008
Intec Telecom Systems PLC
08 May 2008
8 May 2008
Intec Telecom Systems PLC
In view of today's share price movement the Board of Intec Telecom Systems PLC
("the Company") confirms that it has received a very preliminary approach in
relation to a potential offer for the Company. It is currently highly uncertain
whether this approach will lead to any further discussions taking place and as a
consequence there can be absolutely no certainty as to whether any offer will be
forthcoming nor as to the level at which any offer might be made.
No consultation has taken place with the potential offeror with respect to this
announcement.
Intec Telecom Systems PLC will announce interim results for the six months ended
31 March 2008 on 22 May 2008.
Contacts
Intec Telecom Systems PLC: +441483 745 800
John Hughes (Chairman)
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (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acceptances, lapses or is otherwise withdrawn or on which the 'offer period'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 provision of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of 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 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.
If you are in any doubt as to the application of Rule 8 to you, please contact
an independent financial advisor authorised under the Financial Services and
Markets Act 2000, consult the Panel's website at www.thetakeoverpanel.org.uk or
contact the Panel on telephone number +44 20 7638 0129; fax +44 20 7236 7013.
This information is provided by RNS
The company news service from the London Stock Exchange
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