Xenova Group PLC
23 March 2001
Time embargoed until 7.00 a.m. on 23 March 2001
Not for release, publication or distribution in or into the United States,
Canada, Australia or Japan
Xenova Group plc ('Xenova')
Recommended Merger Offer for Cantab Pharmaceuticals plc ('Cantab')
Level of Acceptances and Extension of Merger Offer
Xenova announces that by 3.00 p.m. on 22 March 2001, being the first closing
date of the Merger Offer, valid acceptances of the Merger Offer had been
received in respect of 21,647,805 Cantab Shares, representing approximately
48.74 per cent. of the existing issued share capital of Cantab.
The Board of Xenova announces that the Merger Offer has been extended until 5
April 2001. Cantab Shareholders who wish to accept the Merger Offer and have
not yet done so should despatch their Form of Acceptance as soon as possible.
Xenova has received Forms of Acceptance in respect of 196,006 Cantab Shares
(representing approximately 0.44 per cent. of the existing issued share
capital of Cantab), which were the subject of irrevocable undertakings to
accept the Merger Offer from Cantab Directors.
Save as disclosed below, neither Xenova nor any person deemed to be acting in
concert with it held any Cantab Shares or rights over Cantab Shares on 31
October 2000, the last business day immediately prior to the commencement of
the Merger Offer Period. Save as disclosed herein, neither Xenova nor any
person deemed to be acting in concert with it has acquired or agreed to
acquire any Cantab Shares or rights over Cantab Shares since the Merger Offer
As at 31 October 2000, the last business day immediately prior to the
commencement of the Merger Offer Period, Nomura, which is deemed to be acting
in concert with Xenova, held 5,715 Cantab Shares (representing approximately
0.013 per cent. of the existing issued share capital of Cantab).
Terms defined in the Offer Document dated 1 March 2001 have the same meaning
in this announcement.
David Oxlade, Xenova Tel: 01753 706600
David Porter, Nomura Tel: 020 7521 2000
David Yates, Financial Dynamics Tel: 020 7831 3113
Nomura International plc, which is regulated in the United Kingdom by The
Securities and Futures Authority Limited, is acting for Xenova and no one else
in connection with the Merger Offer and will not be responsible to anyone
other than Xenova for providing the protections afforded to customers of
Nomura or for providing advice in relation to the Merger Offer.
The Merger Offer is not being made, directly or indirectly, in or into, or by
use of the mails of, or by any means or instrumentality (including, without
limitation, facsimile transmissions, telex, telephone or internet) of
interstate or foreign commerce of, or any facilities of a securities exchange
of, the United States nor is it being made, directly or indirectly, in or
into, Canada, Australia or Japan unless an exemption under any applicable laws
This announcement has been approved by Nomura for the purposes of Section 57
of the Financial Services Act 1986.