Last checked at 21 Jun 2017 15:55
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
FOR IMMEDIATE RELEASE
21 June 2017
Hornby plc
("Hornby" or the "Group")
Response to the announcement of a mandatory cash offer by Phoenix UK Fund Limited ("Phoenix UK Fund")
The Board of Hornby has noted the announcement of earlier today from Phoenix UK Fund of its unconditional agreement to acquire shares and its resultant requirement to make a mandatory cash offer for the Hornby shares not already held by Phoenix UK Fund or the other members of the Phoenix Concert Party, at a price of 32.375 pence per Hornby Share.
The Board of Hornby will issue a further announcement in due course.
Shareholders are strongly advised to take no action for the time being.
Statement in accordance with Rule 2.9 of the City Code on Takeovers and Mergers (the "Code")
In accordance with Rule 2.9 of the Code, Hornby plc confirms that as at the date of this announcement, it has in issue 84,583,204 ordinary shares of 1 pence each. The International Securities Identification Number of the shares is GB00B01CZ652.
Enquiries:
Hornby Plc | 01843 233500 |
Steve Cooke, Chief Executive | |
David Mulligan, Group Finance Director | |
www.hornby.com | |
Capital Access Group | 020 3763 3400 |
Scott Fulton | |
Numis Securities Limited | 020 7260 1000 |
Oliver Cardigan (Nomad) Stuart Ord Paul Gillam | |
Tom Ballard |
Important Notices Relating to Financial Adviser
Numis Securities Limited which is authorised and regulated by the FCA is acting exclusively for Hornby plc and no-one else in connection with the matters set out in this announcement and Numis Securities Limited will not be responsible to anyone other than Hornby plc for providing the protections afforded to its clients or for providing advice in relation to any matter referred to herein.
Disclosure requirements of the Code
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 securities exchange 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 securities exchange 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 securities exchange 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 securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange 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 securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange 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 securities exchange offeror(s), 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 securities exchange 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. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.
Additional Information
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available, subject to certain restrictions relating to persons resident in restricted jurisdictions, at Hornby's website at www.hornby.plc.uk and by no later than 12 noon London time on 22 June 2017. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.
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