TIDMAIEA
RNS Number : 9330J
Airea PLC
05 April 2018
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, 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 UNDER RULE 2.4 OF THE CITY CODE ON
TAKEOVERS AND MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A
FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND
THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE, NOR AS TO THE
TERMS ON WHICH ANY OFFER WILL BE MADE.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. ON PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Airea Plc ("Airea" or the "Company")
Response to statement by James Halstead plc
The Board of Airea notes the announcement released yesterday by
James Halstead plc ("James Halstead") which confirms that the board
of directors of James Halstead is at the very early stages of
evaluating making an offer for Airea which could lead to an offer
being made for the entire issued and to be issued share capital of
Airea (the "Possible Offer"). Airea confirms that it has not
received any approach from James Halstead regarding a possible
offer by James Halstead for Airea nor has Airea had any discussions
with James Halstead in relation to a potential offer.
Airea shareholders are strongly advised to take no action at
this stage. There can be no certainty that any firm offer will be
made nor as to the terms on which any firm offer might be made.
Further announcements will be made in due course as
appropriate.
In accordance with Rule 2.6(a) of the Code, James Halstead is
required, by no later than 5.00 p.m. on 2 May 2018, to either
announce a firm intention to make an offer for Airea in accordance
with Rule 2.7 of the Code or announce that it does not intend to
make an offer, in which case the announcement will be treated as a
statement to which Rule 2.8 of the Code applies. This deadline will
only be extended with the consent of the Takeover Panel in
accordance with Rule 2.6(c) of the Code and will cease to apply in
circumstances set out in Rule 2.6(b) of the Code (a firm intention
to make an offer for Airea plc in accordance with Rule 2.7 being
announced by another offeror prior to that deadline).
As a consequence of the announcement, an offer period has now
commenced in respect of Airea in accordance with the rules of the
Code and the attention of shareholders is drawn to the disclosure
requirements of Rule 8 of the Code, which are summarised below.
Airea plc
Neil Rylance, Chief Executive Officer 01924 266 561
Roger Salt, Finance Director
N+1 Singer (Financial Adviser, Nominated Adviser and Broker)
Richard Lindley 020 7496 3000
James White
Nplus1 Singer Advisory LLP ("N+1 Singer"), which is authorised
and regulated in the United Kingdom by the Financial Conduct
Authority, is acting exclusively for the Company as financial
advisor, nominated adviser and broker in relation to the Possible
Offer and is not acting for any other person in relation to such
Possible Offer. N+1 Singer will not be responsible to anyone other
than the Company for providing the protections afforded to its
clients or for providing advice in relation to the contents of this
announcement or any Possible Offer or any other arrangement
referred to herein.
RULE 2.9 REQUIREMENT
Pursuant to Rule 2.10 of the Code, AIREA confirms that there are
41,354,353 ordinary shares of 25 pence each in issue with
International Securities Identification Number GB0008123027.
Disclosure requirements of the Code:
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of AIREA or of any
securities exchange offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer
is, or is likely to be, solely in cash) must make an Opening
Position Disclosure following the commencement of the offer period
and, if later, following the announcement in which any securities
exchange offeror is first identified. An Opening Position
Disclosure must contain details of the person's interests and short
positions in, and rights to subscribe for, any relevant securities
of each of (i) AIREA and (ii) any securities exchange offeror(s).
An Opening Position Disclosure by a person to whom Rule 8.3(a)
applies must be made by no later than 3.30 p.m. (London time) on
the 10th business day following the commencement of the offer
period and, if appropriate, by no later than 3.30 p.m. (London
time) on the 10th business day following the announcement in which
any securities exchange offeror is first identified. Relevant
persons who deal in the relevant securities of AIREA or of a
securities exchange offeror prior to the deadline for making an
Opening Position Disclosure must instead make a Dealing
Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of
AIREA or of any securities exchange offeror must make a Dealing
Disclosure if the person deals in any relevant securities of AIREA
or of any securities exchange offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) AIREA and (ii) any securities
exchange offeror(s), save to the extent that these details have
previously been disclosed under Rule 8. A Dealing Disclosure by a
person to whom Rule 8.3(b) applies must be made by no later than
3.30 p.m. (London time) on the business day following the date of
the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of AIREA or a securities exchange
offeror, they will be deemed to be a single person for the purpose
of Rule 8.3.
Opening Position Disclosures must also be made by AIREA and by
any offeror and Dealing Disclosures must also be made by AIREA, by
any offeror and by any persons acting in concert with any of them
(see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
This announcement does not constitute an offer to purchase any
securities, or an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any offer to purchase or
sell securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The release, distribution
or publication of this announcement in jurisdictions other than the
UK may be restricted by law and therefore any persons who are
subject to the laws of any jurisdiction other than the UK should
inform themselves about and observe any applicable
requirements.
Publication on website
A copy of this announcement will be made available (subject to
certain restrictions relating to persons resident in restricted
jurisdictions) on the AIREA plc website at www.aireaplc.com by no
later than 12 noon (London time) on 6 April 2018.
For the avoidance of doubt, the content of the website referred
to above is not incorporated into and does not form part of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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