12 Jun 2009 12:14
12 June 2009
Earthport plc
('Earthport' or 'the Company')
Statement re: share price
Earthport plc, the global payments utility, notes the recent movement in the Company's share price. The Board has considered for some time that the current share price range considerably undervalues the prospects of the business.
Earthport confirms it is not in any discussions which may lead to an offer being made for the Company.
- Ends -
For more information, please contact:
| Earthport plc | |
| James Bergman, CEO | 020 7220 9700 |
| Panmure Gordon | 020 7459 3600 |
| Katherine Roe | |
| Financial Dynamics | 020 7831 3113 |
| Jonathan Brill |
The Directors of Earthport accept responsibility for the information contained in this announcement. To the best of knowledge and belief of the Directors, who have taken all reasonable care to ensure such is the case, the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Panmure Gordon is acting for Earthport and no one else in connection with this announcement and will not be responsible to anyone other than Earthport for providing the protections afforded to clients of Panmure Gordon or for providing advice in relation to the contents of this announcement.
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 Earthport, 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends.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 Earthport, 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 Earthport by the offeror, 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.