Acquisition Update

31 Jan 2008 13:13

Gyrus Group PLC31 January 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 31 January 2008 Recommended cash acquisition of Gyrus Group plc ("Gyrus") by Olympus UK Acquisitions Limited ("Olympus UK Acquisitions"), a wholly owned subsidiary of Olympus Corporation ("Olympus") (the "Acquisition"). U.K. Court confirmation of Reduction of Capital The Boards of Olympus and Gyrus today announce that the High Court of Justice ofEngland and Wales has confirmed the Reduction of Capital required to effect therecommended acquisition of Gyrus by Olympus UK Acquisitions Limited, a whollyowned subsidiary of Olympus Corporation. It is expected that the Effective Date of the Scheme will be 1 February 2008 andthat Gyrus Shares will cease to be listed on the Official List and theiradmission to trading on the London Stock Exchange will be cancelled at 8:00 a.m.(London time) on 1 February 2008. A further announcement will be made to confirmthat the Scheme has become effective. Enquiries: Perella Weinberg (financial adviser to Olympus)+44 20 7268 2800Philip YatesGraham Davidson Gyrus+44 1189 219 750Brian Steer, ChairmanRoy Davis, Chief Executive OfficerSimon Shaw, Chief Financial Officer Bear Stearns (financial adviser to Gyrus)+44 20 7516 6000Paul AbecassisStuart Rankine Morgan Stanley (financial adviser and corporate broker to Gyrus)+44 20 7425 5000Peter MoorhouseLaura HowardHenry StewartEdward Knight Financial Dynamics (PR adviser to Gyrus)+44 20 7831 3113David Yates Words and expressions defined in the Scheme Document dated 17 December 2007 havethe same meanings in this announcement. Perella Weinberg Partners UK LLP, which is authorised and regulated in theUnited Kingdom by the Financial Services Authority, is acting exclusively forOlympus and Olympus UK Acquisitions and no-one else in connection with theAcquisition and will not be responsible to anyone other than Olympus and OlympusUK Acquisitions for providing the protections afforded to the clients of PerellaWeinberg or for providing advice in relation to the Acquisition. Bear, Stearns International Limited, which is authorised and regulated in theUnited Kingdom by the Financial Services Authority, is acting solely for Gyrusin connection with the Acquisition and no-one else and will not be responsibleto anyone other than Gyrus for providing the protections afforded to clients ofBear Stearns or for providing advice in relation to the Acquisition or any ofthe matters referred to in this announcement. Morgan Stanley & Co. Limited is acting solely for Gyrus in connection with theAcquisition and no-one else and will not be responsible to anyone other thanGyrus for providing the protections afforded to clients of Morgan Stanley or forproviding advice in relation to the Acquisition or any of the matters referredto in this announcement. This information is provided by RNS The company news service from the London Stock Exchange