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Morse PLC (MOR)

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Tuesday 08 June, 2010

Morse PLC

Updated Scheme Timetable

RNS Number : 2490N
Morse PLC
08 June 2010
 



FOR IMMEDIATE RELEASE

Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of that jurisdiction

8 June 2010

Updated Scheme Timetable

 

The Boards of Morse plc ("Morse") today provides an update to the timetable for the proposed acquisition of Morse by 2e2 Limited by way of a Scheme of Arrangement.

 

The timetable has been reduced with permission of the Court. Please note that the following timetable is indicative only and may be subject to change.

 

Last day of dealings in Morse Shares

16 June 2010

Scheme Court Hearing

16 June 2010

Dealings in Morse Shares suspended

17 June 2010

Reduction Record Time

17 June 2010

Reduction Court Hearing

18 June 2010

Effective Date of the Scheme

21 June 2010

Cancellation of admission of Morse Shares

21 June 2010

Latest date for despatch of cheques and settlement through CREST

4 July 2010

 

Capitalised terms used but not defined in this announcement have the same meanings as given to them in the circular containing the Scheme that was sent to Morse Shareholders on 30 April 2010.

 

A copy of this announcement will be available on the Morse website at www.morse.com by no later than 12 noon on [9 June] 2010.

 

ENQUIRIES

 

Morse




Morse plc

+44 (0)20 8380 8000

Mike Phillips, Chief Executive Officer


Guy Millward, Group Finance Director




Investec, Financial Adviser and Broker to Morse

+44 (0)20 7597 4000

Andrew Pinder


Patrick Robb


Dominic Emery




Financial Dynamics, PR adviser to Morse

+44 (0)20 7831 3113

Charles Palmer


Haya Herbert-Burns


Nicola Biles




 

Dealing disclosure requirements

 

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

 

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

 

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

 

Opening Position Disclosures must also be made by the offeree company and by any Offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

 

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure.

 


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