Synectics Regulatory News (SNX)

19 Oct 2007 18:21

Synexus Clinical Research PLC19 October 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO ORFROM ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO 19 October 2007 Synexus Clinical Research PLC (the "Company") Response to share price movement In response to the recent movement in the Company's share price, the Company'sBoard announces that it has received an approach and is currently in preliminarydiscussions which may or may not lead to an offer for the entire issued and tobe issued share capital of the Company. The Company has appointed Brewin Dolphin Limited to advise it on its strategicoptions but there is no guarantee that an offer or any other transaction mayarise from this strategic review. Accordingly, shareholders are advised to takeno action at this stage but to await further developments. Further announcements will be made as appropriate. Pursuant to Rule 2.10 of the City Code, the Company announces that it has23,154,172 ordinary shares of 10p each in issue (ISIN GB00B0L20P93). Enquiries: Synexus Clinical Research PLC Malcolm Hughes, Chairman 07785 224008Brewin Dolphin Limited (Financial and Nominated Adviser to the Company) Mark Brady 0845 270 8601 Richard Evans 0845 270 8602 The distribution of this announcement into jurisdictions other than the UnitedKingdom may be restricted by law and therefore persons into whose possessionthis announcement comes should inform themselves about and observe suchrestrictions. Any failure to comply with the restrictions may constitute aviolation of the securities laws of any such jurisdiction. The Directors of the Company accept responsibility for the information containedin this announcement. To the best of knowledge and belief of the Directors, whohave taken all reasonable care to ensure such is the case, the informationcontained in this announcement is in accordance with the facts and does not omitanything likely to affect the import of such information. Brewin Dolphin Limited is acting for the Company and no one else in connectionwith this announcement and will not be responsible to anyone other than theCompany for providing the protections afforded to clients of Brewin DolphinLimited or for providing advice in relation to the contents of thisannouncement. 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 3:30pm (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 Company by the Company, 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 the virtue of any optionin respect 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. This information is provided by RNS The company news service from the London Stock Exchange