Last checked at 15 May 2009 17:37
FOR IMMEDIATE RELEASE
15 May 2009
Dawmed Systems plc
("Dawmed" or the "Company")
Statement regarding share price movement
The Board of Dawmed notes the recent rise in the Company's share price and confirms that it has received an approach from a third party that may lead to an offer being made for the Company (the "Approach"). The Approach is preliminary in nature and there can be no certainty that an offer will ultimately be forthcoming.
In relation to this announcement, shareholders are advised to take no action in relation to their shareholdings in the Company. A further announcement will be made in due course as appropriate.
The following information is provided in accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code").
Relevant Securities in Issue
The Company confirms that it has 20,613,292 Ordinary Shares of 5 pence each in issue at the close of business on 15 May 2009 and the Ordinary Shares in the Company are admitted to trading on AIM under the UK ISIN code GB0030032881.
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 the offeror or Target (the offeree company), 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 the offeror or Target (the offeree company), 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 the offeror or of Target (the offeree company) by the offeror or Target (the offeree company), 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 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.
ENDS
Enquiries:
| Dawmed Systems plc | |
| Kevin M Gilmore, Executive Chairman | Tel: 01608 682244 |
| Beaumont Cornish Limited | |
| Roland Cornish | Tel: 0207 628 3396 |