RE: RNS out3 Apr 2017 13:36
This is what I'd like explaining; out a few minutes ago...
On 16 January 2017 the board of Sepura plc published a circular (the "Scheme Document") in relation to the recommended cash offer by Project Shortway Limited (a wholly-owned subsidiary of Hytera Communications Corporation Limited) for the entire issued and to be issued ordinary share capital of Sepura (the "Acquisition"). The Scheme Document disclosed that Alphagen Capital Limited had provided Hytera with a letter of intent in favour of the Acquisition in respect of 36,423,615 Sepura Shares (representing, in aggregate, approximately 9.84 per cent. of the Sepura Shares in issue as at 12 January 2017) (the "Letter of Intent").
Pursuant to the requirements of Rule 2.10, Hytera announces that it has been informed that Alphagen Capital Limited is no longer able to comply with the residual commitments in the Letter of Intent following a transfer of the management of the relevant Sepura Shares. Henderson Global Investors (Holdings) Limited ("Henderson") and Lombard Odier Asset Management (Europe) Limited ("Lombard Odier") have entered into an agreement whereby the management of certain funds (including those listed in Schedule 2 of the Letter of Intent) have been transferred from affiliates of Henderson to affiliates of Lombard Odier. Accordingly, Alphagen Capital Limited is no longer able to comply with the residual commitments set out in the Letter of Intent.