Eckoh Technologies Regulatory News (ECK)

31 Jan 2008 14:28

Eckoh PLC31 January 2008 31 January 2008 Eckoh Plc ('Eckoh or the 'Group') Update re: Possible Offer The Board of Eckoh notes today's press speculation and gives the followingupdate on possible offers. Further to the statement made on 21 December 2007, Eckoh confirms thatdiscussions are in progress with Telephonetics Plc which may or may not lead toan offer for the entire issued and to be issued share capital of the Company. However there can be no certainty that an offer will be made, or the terms onwhich such an offer will be made. Further announcements will be made in due course as and when necessary. Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the"Code"), if any person is, or becomes, "interested" (directly or indirectly) in1% or more of any class of "relevant securities" of the Company, all "dealings"in any "relevant securities" of that company (including by means of an option inrespect of, or a derivative referenced to, any such "relevant securities") mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe "offer period" otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an"interest" in "relevant securities" of the Company, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevantsecurities" of the offeree by the offeror, or by any of their respective"associates", must be disclosed by no later than 12.00 noon (London time) on theLondon business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose "relevantsecurities" "dealings" should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. "Interests in securities" arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an "interest" byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a "dealing" under Rule 8, you should consult the Panel. Enquiries Eckoh plcNik Philpot, Chief Executive OfficerAdam Moloney, Group Finance DirectorJim Hennigan, Executive Directorwww.eckoh.com Tel: 01442 458 300 Seymour Pierce LimitedJonathan Wright / Sarah Jacobs Tel: 020 7107 8000 Corfin CommunicationsHarry Chathli, Neil Thapar Tel: 020 7977 0020 This information is provided by RNS The company news service from the London Stock Exchange