News

Wednesday, 15 January 2014

PETER JONES CBE BUYS SHARES IN EXPANSYS PLC FROM MAJOR INSTITUTIONAL SHAREHOLDER

15 January 2014

 

 

 

 

MANDATORY CASH OFFER

 

by

 

PETER JONES CBE

 

for

 

EXPANSYS PLC (“Expansys”)

 

In accordance with Rule 7.1 of the City Code on Takeovers and Mergers (“the Code”) Peter Jones CBE announces that he has today acquired 110,250,320 Expansys Shares from a large institutional shareholder at a price of 0.525 pence per Share representing approximately 9.49 per cent. of the issued share capital of Expansys.

This increases Mr Jones’ interest in Expansys from 481,374,917 Expansys Shares (representing approximately 41.43 per cent.) to 591,625,237 Expansys Shares (representing approximately 50.92 per cent. of the issued share capital of Expansys).

Rule 9 of the Code requires that where a shareholder has an interest of not less than 30 per cent. and not more than 50 per cent. of a company’s voting share capital, if he acquires an interest in any further shares he is required to make a mandatory cash offer for the entire issued share capital not already owned by him. Following the Acquisition and pursuant to Rule 9, Mr Jones is therefore required to make an offer for all the Expansys Shares he does not already own.

The Offer, which will be made by Mr Jones, will be unconditional and subject to the further terms set out in an announcement to be made under Rule 2.7 of the Code which will be made shortly and as set out in the Offer Document and, in the case of Shares held in certificated form, the Form of Acceptance, and will be made on the following basis:

for each Expansys Share - 0.525 pence in cash,

being the highest price paid by Mr Jones for Expansys Shares in the 12 months preceding the date of this Announcement.

an announcement to be made under Rule 2.7 of the Code which will be made shortly.

Enquiries

 

WH Ireland (advising broker to Mr Jones)        

 John Wakefield / Mike Coe     Tel: +44 (0)117 945 3470

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