Business
Statement re. Peter Jones' Announcement
Statement re. Peter Jones' Announcement.
About this update from Xps Pensions Group Plc
[{"type":"text","content":"\n \nRNS Number : 7716X EXPANSYS plc 15 January 2014 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\n \nFOR IMMEDIATE RELEASE\n \n15 January 2014\nEXPANSYS PLC\n(\"EXPANSYS\" or the \"Company\")\n \nStatement re. Peter Jones' Announcement\n \nThe independent directors of EXPANSYS (being all of the directors of EXPANSYS other than Peter Jones and Stephen Vincent) (the \"Independent Directors\") note the announcement this afternoon by Peter Jones, a Non-Executive Director of EXPANSYS relating to his purchase of additional ordinary shares in EXPANSYS (\"EXPANSYS Shares\") and, as a consequence, the requirement for him to make a mandatory offer for the entire issued and to be issued share capital of EXPANSYS (other than those EXPANSYS Shares already owned by him (the \"Mandatory Offer\"). \n \nUnder the City Code on Takeovers and Mergers (the \"Code\"), Peter Jones is obliged to make the Mandatory Offer in cash, at a price per EXPANSYS Share no lower than the highest price paid in any purchase of EXPANSYS Shares by Peter Jones or any party acting in concert with him, in the last twelve months. It is understood that the Mandatory Offer is to be made at a price of 0.525 pence per EXPANSYS Share.\n \nFollowing his recent purchase of EXPANSYS Shares, which has triggered the Mandatory Offer, it is understood that Peter Jones and parties acting in concert with him are interested in aggregate in 53.14 per cent. of the issued share capital of EXPANSYS.\n \nThe Independent Directors will consider the Mandatory Offer and will provide further advice to shareholders in due course. In the meantime, EXPANSYS shareholders should take no action in relation the Mandatory Offer. \n \nIt is noted that the Mandatory Offer is unconditional. \n \nPursuant to Rule 2.10 of the Code, the Company confirms that there are 1,161,918,942 ordinary shares of 0.25p nominal value in issue with International Securities Identification Number GB00B1VMLL97. \n \nAs a consequence of this announcement, an 'Offer Period' has now commenced in respect of the Company in accordance with the rules of the Code and the attentio...