IBL Intl.Brand

TIDMEKF

RNS Number : 6078C

EKF Diagnostics Holdings PLC

19 October 2015

NOT 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

This is an announcement falling under Rule 2.4 of the Takeover Code and does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Takeover Code. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made.

EKF Diagnostics Holdings plc

("EKF" or the "Company")

Extension to deadline under Rule 2.6(c) of the City Code on Takeovers and Mergers (the "Code")

On 24 August 2015 the board of EKF (the "Board") announced that it had received a proposal from Jinjing (Group) Co., Ltd ("Jinjing") regarding a possible offer for the whole of the issued and to be issued ordinary share capital of the Company.

The original deadline for Jinjing to either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer was 5 p.m. on 18 September 2015. This deadline was subsequently extended, with the consent of the Panel on Takeovers and Mergers (the "Panel"), to 5 p.m. on 19 October 2015.

The parties are working together to conclude confirmatory due diligence and to agree the terms of a possible transaction, which includes, amongst other things, continuing discussions on the offer structure. Alternative structures under consideration include a cash offer by Jinjing for the entire issued share capital of EKF in combination with a distribution by EKF of its interests in its Molecular business to existing shareholders or a sale of certain assets by EKF to Jinjing in combination with a return of value by EKF to existing shareholders.

In accordance with Rule 2.6(c) of the Code, the Board has requested that the Panel extend the relevant deadline, as referred to above, to enable the parties to continue their discussions regarding a possible offer. Accordingly, an extension has been granted by the Panel and Jinjing must, by no later than 5 p.m. on 23 October 2015, either announce a firm intention to make an offer for EKF in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel.

A further announcement will be made when appropriate. In the meantime, EKF shareholders are advised by the Board to take no action. There can be no certainty that any formal offer for the Company will be forthcoming, nor as to the terms of any such formal offer.

This announcement has been made with the agreement and approval of Jinjing.

Enquiries:

 
EKF Diagnostics Holdings plc                               Tel: 029 2071 0570 
David Evans, Executive Chairman                            Mob: 07740 084 452 
Julian Baines, CEO                                         Mob: 07788 420 859 
Paul Foulger, CFO                                          Mob: 07710 989 255 
Panmure Gordon (UK) Limited                                Tel: 020 7886 2500 
Robert Naylor (Corporate Finance) 
Paul Fincham (Corporate Finance) 
 
Walbrook PR Limited                  Tel: 020 7933 8780 or ekf@walbrookpr.com 
Paul McManus                                               Mob: 07980 541 893 
Lianne Cawthorne                                           Mob: 07584 391 303 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 19, 2015 02:00 ET (06:00 GMT)

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