Acquisition (2321A)
January 28 2011 - 2:00AM
UK Regulatory
TIDMBGC TIDMBII
RNS Number : 2321A
BTG PLC
28 January 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
London, 28 January 2011
BTG PLC ("BTG")
Acquisition of Biocompatibles International Plc
("Biocompatibles")
Offer Update: Admission of New BTG Shares
BTG is pleased to announce, following the Scheme becoming
effective in accordance with its terms on 27 January 2011, that
applications have been made to the UK Listing Authority and the
London Stock Exchange for 68,723,244 New BTG Shares to be admitted
to the Official List and to trading on the main market of the
London Stock Exchange respectively, in each case to be effective
from 8.00 a.m. today ("Admission").
Valid elections for the Partial CVN Alternative were received in
respect of 10,722,465 Biocompatibles Shares and accordingly BTG
will issue (in aggregate) 10,722,465 Contingent Value Notes. A
total of GBP3,034,920 will be paid in cash to Biocompatibles
Shareholders who did not elect for the Partial CVN Alternative.
The New BTG Shares are expected to be credited to CREST stock
accounts at 8.00 a.m. today. Share certificates for New BTG Shares,
certificates in respect of the Contingent Value Notes and cheques
in respect of the Partial Cash Consideration are expected to be
dispatched to Biocompatibles Shareholders no later than 10
February, 2011.
Following Admission, the issued share capital and voting rights
of BTG will be as follows:
The Company's issued share capital will consist of 326,720,846
Ordinary 10p shares with voting rights attached (one vote per
ordinary share). There are no shares held in Treasury.
Therefore, the total number of voting rights in the Company upon
Admission will be 326,720,846.
The above total voting rights figure may be used by shareholders
as the denominator for the calculations by which they will
determine whether they are required to notify their interests in,
or a change to their interest in, the Company under the Financial
Services Authority's Disclosure and Transparency Rules.
Terms defined in the Scheme Document shall have the same
meaning(s) when used in this announcement.
A copy of this announcement will be available on the Company's
website at www.btgplc.com by no later than 12:00 noon (London time)
on 29 January 2011 (subject to certain restrictions relating to
persons resident in restricted jurisdictions).
For further information contact:
BTG
Louise Makin, Chief Executive Officer
+44 (0) 20 7575 0000
Andy Burrows, Director of Investor Relations +44 (0)20 7575 1741
+44 (0)7990 530605 (mobile)
Rolf Soderstrom, Chief Financial Officer +44 (0)20 7575 0000
Financial Dynamics Ben Atwell +44 (0)20 7831 3113
Rothschild (financial adviser and joint sponsor to BTG)
Dominic Hollamby
+44 (0)20 7280 5000
Julian Hudson
+44 (0)20 7280 5000
J.P. Morgan Cazenove (joint sponsor and corporate broker to
BTG)
James Mitford
+44 (0)20 7742 4000
Gina Gibson
+44 (0)20 7742 4000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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