Business
Successful Application for Accelerated Whitewash
Successful Application for Accelerated Whitewash.
About this update from Itaconix Plc
[{"type":"text","content":"\n \nRNS Number : 6122D Revolymer PLC 08 July 2016 \n\n8 July 2016\n \nRevolymer plc\n(\"Revolymer\" or the \"Company\")\n \nSuccessful Application for Accelerated Whitewash\n \nRevolymer (AIM: REVO), the specialty chemicals business focused on controlled release, responsive systems and delivery systems in the personal and consumer health care and home care and industrial markets, is pleased to announce that further to the announcement made on 21 June 2016 it has successfully applied for a dispensation from making a General Offer under Rule 9 of the City Code on Takeovers and Mergers (the \"Code\") in relation to the Woodford Additional Investment of approximately £1.8 million.\n \nSubject to, inter alia, the passing of the Resolutions at the General Meeting, the 4,869,411 Additional Woodford Placing Shares are due to be admitted to trading on AIM concurrent with Admission of the 10,810,811 Placing Shares.\n \nA further announcement will be made following the conclusion of the General Meeting being held later today, 8 July 2016.\n \nDefined terms used in this announcement have the same meaning as set out in the announcements issued by the Company on 20 and 21 June 2016.\n \nWaiver of Rule 9\n \nThe conditional investment by Woodford Investment Management of 4,869,411 Additional Woodford Placing Shares at the Placing Price (over and above the acquisition by Woodford Investment Management of 5,130,589 Placing Shares pursuant to the Placing) gives rise to certain considerations under the Code. Brief details of the Panel, the Code and the protections they afford are described below.\n \nThe Code is issued and administered by the Panel. The Code applies to all takeover and merger transactions, however effected, where the offeree company is, inter alia, a listed or unlisted public company resident in the United Kingdom (and to certain categories of private limited companies). The Company is a listed public company and its Shareholders are entitled to the protections afforded by the Code.\n \nUnder Rule 9 of the Code, where any person acquires, whether by a series of transactions over a period of time or not, an interest in shares which (taken together with shares already held by that person and an interest in shares held or acquired by persons acting in concert with him or her) c...