GYG Gyg Plc

RNS Number:1010J
Gyrus Group PLC
14 April 2000


GYRUS GROUP PLC ("Gyrus")

ANNOUNCES SUCCESSFUL COMPLETION OF TENDER OFFER FOR EVEREST MEDICAL
CORPORATION ("EVEREST") AND COMPLETION OF THE PLACING AND OPEN OFFER OF GYRUS
SHARES


Gyrus today announces that the tender offer by its wholly owned subsidiary,
Golden Acquisition Corporation, for all outstanding shares of common and
preferred stock of Everest has been successfully completed.  Through the
tender offer, announced on 16 March 2000 and completed on 13 April 2000, Gyrus
acquired 93.93% of the outstanding shares of common and preferred stock of
Everest.  Consequently Everest, will be merged with Golden Acquisition
Corporation which will be renamed Everest Medical Corporation and will be
Gyrus' main operating subsidiary in the US.

Following completion of the tender offer, the placing and open offer to raise
approximately #45 million that was announced on 14 March 2000, will close
today as anticipated.  Admission of and commencement of dealing in the new
Gyrus shares is anticipated at 8.00am on Monday 17 April. 

Following the acquisition of Everest, Gyrus will have a market capitalisation
of approximately #164 million, based on the closing price of 372.5 p on the
London Stock Exchange of Gyrus shares on 13 April 2000.

Nomura International plc advised Gyrus on the acquisition and underwrote the
placing and open offer.


Mark Goble, Managing Director of Gyrus, commented on the transaction:

"Everest provides the ideal platform for our expansion into the lucrative US
market, so I am delighted to announce the successful completion of the tender
offer.  The additional funds raised in the placing and open offer will allow
us to accelerate the implementation of our strategic plans for the combined
group, a process which, thanks to the commitment and enthusiasm of both
management teams, has already begun."

Enquiries:
Gyrus Group PLC
Dr Mark Goble, Managing Director 
John Bradshaw, Finance Director
Analyst, broker and shareholder enquiries)
Tel:  01222 300100
Fax:: 01222 300101
Email: john.bradshaw@Gyrus.co.uk   

Nomura International plc
David Porter, Head of Healthcare Corporate Finance
Charles Spicer, Director, Healthcare Corporate Finance
Tel: 0171 521 2000
Fax:: 0171 521 3699
Email: charles.spicer@nomura.co.uk       

Jean Garon PR
Press enquiries
Tel: 01628 483040
Mobile: 0836 227446
Fax:: 01628 486796
Email: jean@garonpr.demon.co.uk       


END
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