Offer wholly unconditional
28 May 2003 - 2:25AM
UK Regulatory
RNS Number:5787L
Advanced Medical Technologies PLC
27 May 2003
This announcement is not for release, publication or distribution in or into the
United States, Canada, Australia, Japan or the Republic of Ireland
Recommended Offer ("the Offer")
by
British Linen Advisers Limited
on behalf of
Advanced Medical Technologies PLC
for
Lombard Medical PLC
Unconditional in all respects
The board of AMT announces that, at 3.00 p.m. on 27 May 2003, valid acceptances
under the Offer had been received in respect of a total of 33,987,013 Lombard
Shares, representing approximately 62.8 per cent. of the existing issued share
capital of Lombard*. Prior to making the Offer, AMT had received irrevocable
undertakings to accept the Offer in respect of 28,498,337 Lombard Shares,
representing approximately 52.7 per cent. of the issued share capital of
Lombard. Valid acceptances have been received in respect of all the shares
subject to these undertakings and are included in the total for valid
acceptances.
Accordingly, AMT now either owns**, or has received valid acceptances in respect
of a total of 33,987,013 Lombard Shares, representing approximately 62.8 per
cent. of the existing issued share capital of Lombard.
The Offer is conditional upon valid acceptances being received from Lombard
Shareholders representing not less than 90 per cent., or such lesser percentage
as AMT may decide, in nominal value of the Lombard Shares to which the Offer
relates. AMT is therefore also pleased to announce that as at 3.00 p.m. on 27
May 2003, all conditions to the Offer have been either satisfied or waived and
therefore the Offer has today been declared unconditional in all respects. The
Offer will remain open for acceptances until further notice.
Certificates for the AMT Shares issued in settlement of the consideration due
under the Offer in respect of valid acceptances received, and not withdrawn, at
or before the time of this announcement will be despatched by 14 June 2003 and,
in the case of valid acceptances received after such time and date, within 14
days of receipt of such acceptance, valid and complete in all respects.
Lombard Shareholders who have not yet accepted the Offer should complete and
return their Forms of Acceptance to Northern Registrars Limited by post or by
hand to Northern House, Woodsome Park, Fenay Bridge, Huddersfield, HD8 0LA as
soon as possible.
AMT intends, as soon as it becomes entitled to do so, to apply the provisions of
sections 428 to 430F (inclusive) of the Companies Act 1985 (as amended) to
acquire compulsorily all the outstanding Lombard Shares to which the Offer
relates. A statutory notice implementing this procedure will be posted to
Lombard Shareholders who have not accepted the Offer as soon as AMT is entitled
to do so.
AMT also intends, when practicable, to procure that Lombard makes an application
to the London Stock Exchange for the cancellation of the trading of Lombard
Shares on AIM.
Words and expressions used in this press release shall bear the same respective
meanings as defined in the Offer Document sent to Lombard Shareholders, dated 9
May 2003, unless the context otherwise requires.
Commenting on today's announcement, Tony Canning, Chairman of AMT, said:
"We are pleased to declare the Offer unconditional in all respects and hope
that, under AMT's ownership, Lombard will have the opportunity to implement its
strategy successfully."
Enquiries
AMT 020 7710 4500
Tony Canning
British Linen Advisers 020 7710 8800
Richard Davies
Tavistock Communications 020 7600 2288
David Foxman
*Includes acceptances received from members of the Concert Party in respect of
20,880,010 Lombard Shares representing approximately 38.6 per cent. of the
existing issued share capital of Lombard.
**Prior to the commencement of the Offer Period, AMT and the Concert Party
either owned or controlled 20,880,010 Lombard Shares representing approximately
38.6 per cent. of the existing issued share capital of Lombard. Neither AMT nor
the Concert Party has acquired or agreed to acquire any Lombard Shares or rights
over Lombard Shares during the Offer Period (otherwise than through the
acceptance of the Offer, as described above).
Neither AMT, nor any person acting in concert with it, has acquired any Lombard
Shares or rights over Lombard Shares during the course of the Offer period
(otherwise than through the acceptance of the Offer, as described above).
The directors of AMT accept responsibility for the information contained in this
announcement, save that the only responsibility accepted by them in respect of
the information in this announcement relating to Lombard (which has been
compiled from published sources) is to ensure that such information has been
correctly and fairly reproduced and presented. Subject as aforesaid, to the
best of the knowledge and belief of the directors of AMT (who have taken all
reasonable steps to ensure that such is the case), the information contained in
this announcement for which they are responsible is in accordance with the facts
and does not omit anything likely to affect the import of such information.
This announcement has been approved by British Linen Advisers for the purposes
of Section 21 of the Financial Services and Markets Act 2000. British Linen
Advisers, which is authorised and regulated in the UK by the Financial Services
Authority, is acting as financial adviser to AMT and no one else in connection
with the Offer and the other matters described in this announcement and will not
be responsible to anyone other than to AMT for providing the protections
afforded to customers of British Linen Advisers, nor for providing advice in
relation to the Offer or any other matters described in this announcement.
The Offer is not being made, directly or indirectly, in or into the United
States, Canada, Australia, Japan or the Republic of Ireland or by the use of the
mails of, or by any means or instrumentality of interstate or foreign commerce
of, or any facility of a national securities exchange of any of those
jurisdictions and the Offer should not be accepted by any such use, means,
instrumentality or facility or from within the United States, Canada, Australia,
Japan or the Republic of Ireland. This includes, but is not limited to, the
post, facsimile transmissions, telex, telephone, e-mail and the internet.
Accordingly, copies of this announcement and any related documents are not being
sent and must not be mailed or otherwise distributed or sent in, into or from
the United States, Canada, Australia, Japan or the Republic of Ireland. Persons
receiving such documents (including, without limitation, custodians, nominees,
and trustees) should not distribute or send them in, into or from the United
States, Canada, Australia, Japan or the Republic of Ireland or use United
States, Canadian, Australian, Japanese or Irish mails or any such means,
instrumentality or facility for any purpose, directly or indirectly, in
connection with the offer. Doing so may invalidate any related purported
acceptance of the Offer.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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