MOR Morse

 

TIDMMOR 
 
RNS Number : 6814K 
Morse PLC 
23 April 2010 
 

                                                                   23 April 2010 
                                    Morse plc 
 
                            Recent press speculation 
 
The Board of Morse plc ("Morse"), the IT services and technology company, notes 
the recent media speculation and confirms that it is in advanced talks, which 
may or may not lead to an offer being made for the Company at 51 pence per 
share. 
 
Shareholders should be aware that there is no certainty that an offer will be 
made. Further updates will be announced as appropriate. 
 
In accordance with Rule 2.10 of the City Code on Takeovers and Mergers, Morse 
has 129,882,763 ordinary shares of 12.27 pence each in issue (of which 82 are 
not listed).  The International Securities Identification Number for Morse 
ordinary shares is GB00B288B731. 
 
Enquiries: 
 
+--------------------------------+--------------------------------+ 
| Morse plc                      | Tel: 020 8380 8000             | 
+--------------------------------+--------------------------------+ 
| Mike Phillips, Chief Executive |                                | 
| Officer                        |                                | 
+--------------------------------+--------------------------------+ 
| Guy Millward, Group Finance    |                                | 
| Director                       |                                | 
+--------------------------------+--------------------------------+ 
|                                |                                | 
+--------------------------------+--------------------------------+ 
| Investec Investment Banking    | Tel: 020 7597 4000             | 
+--------------------------------+--------------------------------+ 
| Andrew Pinder                  |                                | 
+--------------------------------+--------------------------------+ 
| Patrick Robb                   |                                | 
+--------------------------------+--------------------------------+ 
|                                |                                | 
+--------------------------------+--------------------------------+ 
| Financial Dynamics             | Tel: 020 7831 3113             | 
+--------------------------------+--------------------------------+ 
| Charles Palmer                 |                                | 
+--------------------------------+--------------------------------+ 
| Haya  Herbert-Burns            |                                | 
+--------------------------------+--------------------------------+ 
| Nicola Biles                   |                                | 
+--------------------------------+--------------------------------+ 
 
Investec Investment Banking, a division of Investec Bank plc, which is 
authorised and regulated by the Financial Services Authority in the United 
Kingdom, is acting exclusively for Morse and no one else in connection with 
matters described in this announcement and will not be responsible to anyone 
other than Morse for providing the protections afforded to clients of Investec 
Investment Banking nor for providing advice in relation to matters described in 
this announcement. 
 
Under Rule 8.3(a) of the Code, any person who is interested in 1 per cent. or 
more of any class of relevant securities of an offeree company or of any paper 
offeror (being any offeror other than an offeror in respect of which it has been 
announced that its offer is, or is likely to be, solely in cash) must make an 
Opening Position Disclosure following the commencement of the offer period and, 
if later, following the announcement in which any paper offeror is first 
identified. 
 
An Opening Position Disclosure must contain details of the person's interests 
and short positions in, and rights to subscribe for, any relevant securities of 
each of (i) the offeree company and (ii) any paper offeror(s). An Opening 
Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no 
later than 3.30 pm (London time) on the 10th business day following the 
commencement of the offer period and, if appropriate, by no later than 3.30 pm 
(London time) on the 10th business day following the announcement in which any 
paper offeror is first identified. Relevant persons who deal in the relevant 
securities of the offeree company or of a paper offeror prior to the deadline 
for making an Opening Position Disclosure must instead make a Dealing 
Disclosure. 
 
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1 
per cent. or more of any class of relevant securities of the offeree company or 
of any paper offeror must make a Dealing Disclosure if the person deals in any 
relevant securities of the offeree company or of any paper offeror. A Dealing 
Disclosure must contain details of the dealing concerned and of the person's 
interests and short positions in, and rights to subscribe for, any relevant 
securities of each of (i) the offeree company and (ii) any paper offeror, save 
to the extent that these details have previously been disclosed under Rule 8. A 
Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no 
later than 3.30 pm (London time) on the business day following the date of the 
relevant dealing. 
 
If two or more persons act together pursuant to an agreement or understanding, 
whether formal or informal, to acquire or control an interest in relevant 
securities of an offeree company or a paper offeror, they will be deemed to be a 
single person for the purpose of Rule 8.3. 
Opening Position Disclosures must also be made by the offeree company and by any 
offeror and Dealing Disclosures must also be made by the offeree company, by any 
offeror and by any persons acting in concert with any of them (see Rules 8.1, 
8.2 and 8.4). 
 
Details of the offeree and offeror companies in respect of whose relevant 
securities Opening Position Disclosures and Dealing Disclosures must be made can 
be found in the Disclosure Table on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk, including details of the number of relevant 
securities in issue, when the offer period commenced and when any offeror was 
first identified. If you are in any doubt as to whether you are required to make 
an Opening Position Disclosure or a Dealing Disclosure, you should contact the 
Panel's Market Surveillance Unit on +44 (0)20 7638 0129." 
 
 "Interests in securities" arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an "interest" by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
 
Terms in quotation marks are defined in the Code, which can also be found on the 
Panel's website. If you are in any doubt as to whether or not you are required 
to disclose a "dealing" under Rule 8, you should consult the Panel. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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