3 Aug 2009 12:24
RNS Number : 7674W
Capcon Holdings PLC
03 August 2009
Capcon Holdings plc ("Capcon" or the "Company")
Response to Offer Announcement by Paul Jackson
3 August 2009
The independent director of Capcon notes the announcement of the publication of an offer document (the "Offer Document") containing a formal offer by Paul Jackson (the "Offer") of 6 pence per share for all the issued ordinary shares of 1p each in the capital of the Company ("Capcon Shares") which are not held by the Concert Party and any further Capcon Shares which are unconditionally allotted or issued and fully paid before the Offer closes or expires (including pursuant to the exercise of any outstanding share options), which will remain open for acceptance, subject to the provisions of Appendix I of the Offer Document, until 1.00 pm on 19 August 2009.
The Offer Document and the information incorporated by reference to other sources in such document have been published on Vantis Corporate Finance Limited’s website,
http://www.vantisplc.com/Vantis/Services/CorporateFinance/ClientRegulatoryAnnouncements.htm and may be viewed by going to that website and clicking on the link to "Offer by Paul Jackson under Rule 9 of the City Code for Capcon Holdings Plc".
The independent director is currently considering the Company's response to the announcement of the Offer and the Company will make a further announcement in due course.
Enquiries:
Capcon Holdings plc 07747 020 600
Alex Borrelli
CV Capital LLP 0207 509 9318
Jason Metcalf
Ralph O'Beirne
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) in 1% or more of any class of 'relevant securities' of Capcon Holdings plc 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until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends.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 Capcon Holdings plc, 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 Capcon Holdings plc or by any of its 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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