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Coolabi PLC (COO)

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Monday 15 August, 2011

Coolabi PLC

Response to Press Speculation

RNS Number : 3535M
Coolabi PLC
15 August 2011
 



 

Coolabi plc ("Coolabi" or the "Company")

Response to Press Speculation

 

Further to the announcement on 9 August 2011 and recent press speculation, Coolabi confirms that it has received an approach from North Promotions Limited, a company funded by Edge Performance VCT plc  ("Edge"), which may or may not lead to an offer being made for the Company. Edge, managed by Edge Investment Management Limited, is the Company's largest shareholder. Discussions remain at a very early stage and there can be no certainty that these discussions could lead to an offer for the Company.

 

A further announcement will be made when appropriate.

 

In accordance with Rule 2.10 of The City Code on Takeovers and Mergers, Coolabi confirms that it has in issue and admitted to trading on the London Stock Exchange 55,517,449 ordinary shares of 1p each under International Securities Identification Number GB00B28PL418.

 

In addition, Coolabi confirms that it has in existence £562,114 of convertible loan notes which can be converted at a price of 6.75p per share.

 

15 August 2011

 

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 Coolabi, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Coolabi, 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 Coolabi by Coolabi, or by the potential offerors, 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 http://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.

 

 

 

 

 

 

For further information, please contact:

 

Coolabi plc

Tel: 01962 850 274

Stuart Lindsay,

Senior Independent Non-executive Director




Evolution Securities

Tel: 020 7071 4300

Bobbie Hilliam / Chris Clarke


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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