Business
Offer Update
Offer Update.
About this update from Genus Plc
[{"type":"text","content":"\n Genus PLC\n02 December 2005\n\n2 December 2005\n\n Recommended Cash Offer by\n\n Bridgewell Securities Limited\n\n on behalf of\n\n Genus plc\n\n to acquire the entire issued and to be issued\n share capital of\n\n Sygen International plc\n\nOffer unconditional in all respects\n\nOn 28 October 2005 Genus plc announced a recommended cash offer of 63.2 pence\nper Sygen Share for the entire issued and to be issued ordinary share capital of\nSygen International plc.\n\nFurther to the announcement made by Genus on 25 November 2005 and following\nadmission of the Enlarged Share Capital to trading on AIM which occurred earlier\ntoday, the Board of Genus is pleased to announce that the final condition to the\nOffer has now been satisfied and that the Offer has become unconditional in all\nrespects.\n\n\nAs at 3.00 p.m. on 1 December 2005, Genus either owned or had received valid\nacceptances of the Offer in respect of a total number of 278,719,020 Sygen\nShares, representing approximately 94.39 per cent. of the issued ordinary share\ncapital of Sygen.\n\n\nCompulsory acquisition and cancellation of listing\n\n\nAs valid acceptances of the Offer have been received in respect of more than\nnine-tenths in value of the Sygen Shares to which the Offer relates, Genus\nintends to apply the provisions of sections 428 to 430F of the Act to acquire\ncompulsorily any outstanding Sygen Shares not acquired or agreed to be acquired\nby or on behalf of Genus pursuant to the Offer or otherwise. Accordingly Genus\nwill shortly be posting formal notices pursuant to section 429(4) of the\nCompanies Act 1985 to those Sygen Shareholders who have not at that time validly\naccepted the Offer.\n\n\nGenus will take steps to procure the application by Sygen for the cancellation\nof Sygen's listing on the Official List and from trading on the London Stock\nExchange shortly after Admission. It is anticipated that cancellation of\nlisting and trading will take effect no earlier than 28 December 2005.\n\nAcceptance of the Offer\n\nSygen Shareholders who have not yet accepted the Offer are urged to complete and\ndespatch their Forms of Acceptance by post or by hand by Lloyds TSB Registrars,\nThe Causeway, Worthing, West Sussex BN99 6DA or by hand (during normal business\nhours) only at Lloyds TSB Registrars, Princess House, 1 Suffolk Lane, London\nEC4R 0AX in acco...