1 Dec 2020 16:55
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")
1 December 2020
Lantronix, Inc.
("Lantronix")
Statement regarding Telit Communications PLC
Further to the recent announcements made in relation to a possible offer for Telit Communications PLC ("Telit") by Lantronix, Lantronix confirms that it does not intend to make an offer under Rule 2.7 of the Code.
For the purposes of Rule 2.8 of the Code, Lantronix, and any person(s) acting in concert with it, reserve the right to make or participate in an offer or possible offer for Telit (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months of the date of this announcement:
a. with the agreement of the board of directors of Telit;
b. following the announcement of a firm intention to make an offer for Telit by or on behalf of a third party;
c. following the announcement by Telit of a proposal for a "whitewash" (as referred to in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or for a reverse takeover (as defined in the Code); or
d. where the Panel on Takeovers and Mergers has determined that there has been a material change of circumstances.
Enquiries:
Lantronix, Inc. | Tel: +1 (949) 453 3990 |
Paul Pickle, Chief Executive Officer | |
Robert Adams, Head of Corporate Development and Investor Relations | |
David Goran, VP Legal and Business Affairs | |
Needham & Company, LLC | Tel: +1 (212) 371 8300 |
Pooyan Mehdizadeh | |
Jack Higgins | |
Numis Securities Limited | Tel: +44 (0)20 7260 1000 |
Stuart Skinner | |
George Fry | |
Disclaimer
Needham & Company, LLC, a FINRA regulated US Broker-Dealer, is acting as a financial advisor for Lantronix in relation to this transaction. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Numis Securities Limited ("Numis"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as financial adviser exclusively for Lantronix and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than Lantronix for providing the protections afforded to clients of Numis, nor for providing advice in relation to any matter referred to herein. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.