Statement re Possible Offer

RNS Number : 9262U

Synchronica PLC

03 January 2012

 



Synchronica plc

("Synchronica" or "the Company")

Statement re Possible Offer

The Board of Synchronica (AIM: SYNC) (TSX Venture: SYN) announces that it received an approach from a competitor, Myriad Group AG ("Myriad"), regarding a possible offer by Myriad for the Company. The initial approach was rejected, but Myriad has indicated to the Company that they intend to revise the terms of their potential offer and the board of Synchronica considers it appropriate to receive and consider the revised terms before determining whether to terminate discussions.

In accordance with Rule 2.6(a) of the Code, Myriad must, by not later than 5.00 p.m. on 31 January 2012, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.  This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

This is an announcement falling under Rule 2.4 of the City Code and does not constitute an announcement of a firm intention to make an offer or to pursue any other transaction under Rule 2.7 of the City Code. Accordingly, Synchronica shareholders are advised that there can be no certainty that a formal offer for Synchronica will be forthcoming.

A further announcement will be made in due course.

For corporate information, please contact:

Synchronica plc [phone]	Chief Executive Officer	Angus Dent
Northland Capital Partners [phone]	Nominated Advisor Corporate Broker	Shane Gallwey; Rod Venables Katie Shelton
Walbrook PR Ltd [phone]	Media and Analyst Enquiries, UK	Paul McManus [e-mail]
TMX Equicom [phone] Ext 290	Media and Analyst Enquiries, North America	Craig MacPhail [e-mail]

About Synchronica

Synchronica plc is a leading developer of standards-based, next-generation mobile messaging solutions for mobile operators and device manufacturers. The Company's flagship product - Synchronica Mobile Gateway - provides pre-RCS push email, synchronisation, instant messaging (IM), and social networking services to any mobile phone currently in use. Synchronica's patented transcoding technology uses advanced streaming to download email attachments and dramatically reduces the consumption of wholesale network bandwidth by as much as 90 percent.

Synchronica's white-labelled products are licensed by more than 90 mobile operators and eight device manufacturers from emerging and developed markets, delivering mass market messaging services across the entire customer base, providing competitive advantage, diversifying revenues, and reducing churn.

Synchronica is headquartered in the United Kingdom and has a regional presence in Canada, as well as the USA, Hong Kong, Spain, and Dubai. Synchronica also operates dedicated development centres in Germany and the Philippines. A public company, Synchronica is traded on the AIM list of the London Stock Exchange (SYNC) and the Venture Exchange of the Toronto Stock Exchange (SYN). For further information, please visit www.synchronica.com

 

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