Business
Offer Update
Offer Update.
About this update from Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 0027T IP Group PLC 09 October 2017 \n\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.\n \nTHIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014.\nFOR IMMEDIATE RELEASE\n9 October 2017\n \nUpdate on Offer for Touchstone Innovations plc\n\nExtension of the Offer to 1.00 p.m. on 27 October 2017 \nAcceptances and statements of support in aggregate of 97% \n \n1. Introduction\nAs announced on 25 August 2017, the Offer timetable has been frozen to allow for the CMA Phase 1 review of the Offer to be conducted within the Offer timetable. As stated in the Panel's statement on 25 August 2017, Day 39 of the Offer timetable will be extended to the second day after the announcement of the CMA's decision following its Phase 1 review. On 29 August 2017, the CMA announced the commencement of its Phase 1 review of the proposed transaction, with 24 October 2017 as the deadline for the announcement of its decision. Consequently, IPG announced, on 18 September 2017, that it was extending the Offer until 1.00 p.m. on 6 October 2017 (the \"Second Closing Date\").\n \nCapitalised terms used but not defined in this announcement shall have the meaning given to them in the offer document published on 18 July 2017 (the \"Offer Document\").\n \n2. Extension of the Offer to 1.00 p.m. on 27 October 2017\nIn accordance with the disclosures set out above, IPG announces that the Offer is being further extended and will remain open for acceptance until the next closing date which will be 1.00 p.m. on 27 October 2017. Should there be any further extension of the Offer this will be publicly announced by 8.00 a.m. on the business day following the day on which the Offer is due to expire, or such later time or date as the Panel may agree. \n \n3. Acceptances and statements of support in aggregate of 97%\nAs at 1.00 p.m. on 6 October 2017, being the Second Closing Date of the Offer, IPG had received valid acceptances in respect of a total of 84,540,607 Touchstone Shares, representing approximately 52.4432 per cent. o...