Court Sanction of Scheme (0856W)
January 24 2012 - 7:45AM
UK Regulatory
TIDMALN TIDMSDL
RNS Number : 0856W
Alterian PLC
24 January 2012
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 SUCH
JURISDICTION.
FOR IMMEDIATE RELEASE
24 January 2012
Recommended Cash Acquisition by
SDL plc
of
Alterian plc
Court sanction of Scheme
Alterian plc ("Alterian" or the "Company") is pleased to
announce that the High Court of Justice has today made an order
sanctioning the Scheme by which SDL's Acquisition of Alterian is
being implemented.
In order for the Scheme to become effective, the Court will now
need to confirm the associated Capital Reduction at the Capital
Reduction Court Hearing. This hearing will take place on 26 January
2012.
It is expected that the last day of dealings in Alterian Shares
will be 25 January 2012 and that the listing and admission to
trading on the London Stock Exchange's main market for listed
securities of Alterian Shares will be cancelled at 8.00 a.m. on 30
January 2012, the business day after the anticipated effective date
of the Scheme.
A detailed timetable of events for the Scheme is set out in the
scheme document dated 14 December 2011 (the "Scheme Document").
Words and expressions defined in the Scheme Document shall,
unless the context provides otherwise, have the same meanings in
this announcement.
Enquiries:
Alterian Tel: +44 (0) 117
Phil Cartmell, Chairman 970 3200
Heath Davies, Chief Executive
Officer
Guy Millward, Finance Director
Canaccord Genuity (financial Tel: +44 (0) 20
adviser to Alterian) 7050 6500
Simon Bridges/Rory O'Sullivan
Cameron Duncan
College Hill (public relations Tel: +44 (0) 20
advisers to Alterian) 7457 2020
Adrian Duffield
Kay Larsen
SDL Tel: +44 (0) 1628
Mark Lancaster, Executive 410 127
Chairman
John Hunter, Chief Executive
Officer
Matthew Knight, Chief Financial
Officer
Investec (financial adviser Tel: +44 (0) 20
to SDL) 7597 5000
Andrew Pinder
David Flin
FTI Consulting (public relations Tel: +44 (0) 20
advisers to SDL) 7831 3113
Ed Bridges
Jon Snowball
Canaccord Genuity Limited, which is authorised and regulated in
the United Kingdom by the FSA, is acting exclusively for Alterian
and no one else in connection with the Acquisition and will not be
responsible to anyone other than Alterian for providing the
protections afforded to clients of Canaccord Genuity Limited nor
for providing advice in relation to the Acquisition or any other
matter or arrangement referred to in this announcement.
Investec bank plc, which is authorised and regulated in the
United Kingdom by the FSA, is acting exclusively for SDL and no one
else in connection with the Acquisition and will not be responsible
to anyone other than SDL for providing the protections afforded to
clients of Investec Bank plc nor for providing advice in relation
to the Acquisition or any other matter or arrangement referred to
in this announcement.
Disclosure requirements of 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 p.m. (London time) on the 10th business
day following the commencement of the offer period and, if
appropriate, by no later than 3.30 p.m. (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 p.m. (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.
Publication on websites
Copies of this announcement and the Scheme Document are
available free of charge, subject to certain restrictions relating
to persons resident in Restricted Jurisdictions, at Alterian's and
SDL's websites www.alterian.com and www.sdl.com respectively, up to
and including the Scheme Effective Date.
For the avoidance of doubt, the content of the websites referred
to above is not incorporated into and does not form part of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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