Statement re Scisys plc

28 Apr 2008 10:48

Microgen PLC28 April 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTOTHE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTIONWHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCHJURISDICTION 28 April 2008 Microgen plc ("Microgen") Statement regarding Scisys plc ("Scisys") On 16 April 2008, Microgen announced that talks between Scisys and Microgenregarding a possible offer for Scisys had terminated but that Microgen remainedinterested in a combination of the two companies on the basis of the proposalpreviously submitted to Scisys. Microgen has now notified Scisys that it is notintending to revise its proposal regarding a possible offer for Scisys. Microgen accordingly confirms that it has no present intention of making anoffer for Scisys. Under Rule 2.8 of the City Code on Takeovers and Mergers, and except with theconsent of the Panel, the statement in the preceding paragraph will preventMicrogen or anyone acting in concert with it from announcing an offer orpossible offer for Scisys or taking certain other action within the next sixmonths unless there is a material change of circumstances or there has occurredan event which is specified as enabling the statement to be set aside.Accordingly, for the purposes of Rule 2.8, Microgen reserves the right (onbehalf of itself and anyone acting in concert with it) to announce an offer orpossible offer for Scisys and/or to take any other action which would otherwisebe restricted under Rule 2.8 within the next six months in the event that: (i) the agreement or recommendation of the board of Scisys is given to the making of such an announcement or the taking of any such other action; (ii) a third party announces an offer for Scisys; or (iii) Scisys announces a "whitewash proposal" or a "reverse takeover" (each as defined in the Takeover Code). Enquiries: Microge plc Tel: 01252 772300Martyn RatcliffePhilip Wood Arbuthnot Securities Limited Tel: 020 7012 2000Tom GriffithsAlasdair Younie Financial Dynamics Tel: 020 7831 3113Giles SandersonHaya Chelhot This information is provided by RNS The company news service from the London Stock Exchange