Result of 2nd Court Hearing
July 28 2010 - 7:46AM
UK Regulatory
TIDMTPH
RNS Number : 0803Q
Telephonetics PLC
28 July 2010
Telephonetics plc ("Telephonetics" or the "Company")
28 July 2010
Result of Second Court Hearing
The Company is pleased to announce that at the Second Court Hearing held today,
the Court confirmed the capital reduction associated with the cancellation of
the Scheme Shares. It is expected that the Second Court Order will be delivered
to the Registrar of Companies tomorrow, whereby the Scheme will become effective
and fully operative in accordance with its terms.
The Scheme Shares were this morning suspended from trading on AIM.
In accordance with Rule 19.11 of the City Code, a copy of this announcement will
be published on the Company's website.
Capitalised terms used in this announcement have the meanings given to them in
the scheme document posted to Scheme Shareholders on 14 June 2010.
Contacts:
Telephonetics
01442 242 242
James Ormondroyd, Finance Director
Brewin Dolphin
0845 213 4730
Neil Baldwin
Sean Wyndham-Quin
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 Telephonetics or Netcall PLC ("Netcall"),
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 3.30 pm (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declared, unconditional as to acceptances, lapses or is otherwise withdrawn or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 Telephonetics or Netcall, 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 Telephonetics or of Netcall by Netcall or Telephonetics, 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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