Last checked at 3 Jul 2015 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "TAKEOVER CODE" OR THE "CODE").
03 July 2015
Eckoh plc
("Eckoh" or the "Company")
Statement Regarding Possible Recommended Offer for Netcall plc ("Netcall")
On 25 June 2015, the boards of Eckoh and Netcall announced that they were in advanced discussions regarding a possible acquisition by Eckoh of the entire issued and to be issued ordinary share capital of Netcall on a recommended basis (the "Acquisition"). Eckoh now announces that it does not intend to proceed with the Acquisition.
This decision follows consultation with Netcall's shareholders and the reluctance of a major shareholder in Netcall to support the Acquisition. The Boards of both companies are disappointed with the outcome.
This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement Eckoh will, together with any party acting in concert with Eckoh, be bound by the restrictions contained in Rule 2.8 of the Code.
Eckoh | |
Nik Philpot, Chief Executive Officer Adam Moloney, Group Finance Director www.eckoh.com
| Tel: +44 (0)1442 458 300 |
N+1 Singer (nominated adviser, corporate broker and financial adviser to Eckoh) | |
Shaun Dobson Nic Hellyer Alex Wright
| Tel: +44 (0)20 7496 3000 |
Buchanan | |
Sophie McNulty Gabriella Clinkard Stephanie Watson
| Tel: +44 (0)20 7466 5000 |
Netcall | |
Henrik Bang, Chief Executive Officer James Ormondroyd, Group Finance Director
| Tel: +44 (0)330 333 6100 |
finnCap (nominated adviser, corporate broker and financial adviser to Netcall) | |
Stuart Andrews
| Tel: +44 (0)20 7220 0500 |
N+1 Singer, which is authorised and regulated by the FCA, is acting exclusively for Eckoh and no one else in connection with the proposed transaction referred to in this announcement and will not be responsible to anyone other than Eckoh for providing the protections afforded to clients of N+1 Singer, or for giving advice in connection with the proposed transaction or any matter referred to herein.
finnCap, which is authorised and regulated by the FCA, is acting exclusively for Netcall and no one else in connection with the proposed transaction referred to in this announcement and will not be responsible to anyone other than Netcall for providing the protections afforded to clients of finnCap, or for giving advice in connection with the proposed transaction or any matter referred to herein.