RNS Number : 1528V Synergy Health PLC 23 October 2014

24/10/2014 08:55
RNS Number : 1528V
Synergy Health PLC
23 October 2014
23 October 2014
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY
IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO
WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
THAT JURISDICTION
SYNERGY HEALTH PLC
("Synergy" or "the Company")
Recommended Combination of Synergy and STERIS Corporation
("STERIS") - Change in timetable for posting of Scheme Document
Further to the announcement under Rule 2.7 of the Takeover Code
regarding the recommended combination of Synergy with STERIS
released on Monday 13 October 2014 (the "Announcement"), the Board of
Synergy hereby provides an update to its shareholders on changes to the
timetable of the Offer. Terms defined in the Announcement have the same
meanings in this announcement.
As the offer is to be structured as a scheme of arrangement, Appendix 7
paragraph 3(a) of the Takeover Code stipulates that, except with the
consent of the Panel, an offeree is required to send a scheme circular to
shareholders within 28 days of announcement of the offer. In the
Announcement of 13 October 2014 STERIS informed Synergy
Shareholders of the following in relation to timetable:
"The Scheme will be put to Synergy Shareholders at the Court Meeting
and at the General Meeting, which are expected to be held in December
2014 depending on the timing of the meeting of STERIS Stockholders to
vote on the STERIS Merger. The Court Meeting and the General Meeting
will be convened to occur around about the same time as the meeting of
STERIS Stockholders.
It is expected that the Scheme Document, which will include notices to
convene the Court Meeting and the General Meeting, will be posted to
Synergy Shareholders during November 2014 (and, in any event, within 28
days of this Announcement, unless otherwise agreed with the Panel) and
that the Scheme will become effective by 31 March 2015, subject to the
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satisfaction or, where applicable, waiver of the Conditions."
Due to the anticipated timing of the filing by New STERIS of its Form S4/Proxy Statement with the SEC and the SEC review of that document, the
Board of Synergy advises that the Panel has agreed to Synergy's request
for an extension to the 28 day timetable for posting of the Scheme
Document and as such it is envisaged that the Scheme Document is not
likely to be posted to Synergy Shareholders before late November or early
December 2014. The Board will announce a further update to the timetable
once the SEC has reviewed the Form S-4/Proxy Statement and details of
the timing of the STERIS Stockholder meeting have been confirmed.
For Further Information:
Synergy Health plc
Tel: +44 (0) 1793 891 851
Dr Richard Steeves, Chief Executive
Gavin Hill, Finance Director
Investec
Patrick Robb, Gary Clarence
Tel: +44 (0) 20 7597 5970
!
IMPORTANT!NOTES
This%Announcement%is%not%intended%to%and%does%not%cons0tute,%or%form%part%of,%any%oﬀer%or
invita0on%to%sell%or%purchase%any%securi0es%or%the%solicita0on%of%any%oﬀer%to%purchase,
otherwise%acquire,%subscribe%for,%sell%or%otherwise%dispose%of%any%security%pursuant%to%the
Scheme%or%otherwise.%The%Scheme%will%be%eﬀected%solely%through%the%Scheme%Document
which%will%contain%the%full%terms%and%condi0ons%of%the%Scheme.%Any%decision%in%respect%of,%or
other%response%to,%the%Scheme%or%the%Combina0on%should%be%made%only%on%the%basis%of%the
informa0on%contained%in%such%document.
The%release,%publica0on%or%distribu0on%of%this%Announcement%in%jurisdic0ons%other%than%the
United%Kingdom%may%be%restricted%by%law%and/or%regula0on%and%therefore%any%persons%who
are%subject%to%the%laws%and%regula0ons%of%any%jurisdic0on%other%than%the%United%Kingdom
should%inform%themselves%about,%and%observe,%any%applicable%requirements.%Any%failure%to
comply%with%the%applicable%requirements%may%cons0tute%a%viola0on%of%the%laws%and/or
regula0ons%of%any%such%jurisdic0on.%To%the%fullest%extent%permiFed%by%applicable%law,%the
companies%and%persons%involved%in%the%Scheme%disclaim%any%responsibility%and%liability%for%the
viola0on%of%such%restric0ons%by%any%person.
The%availability%of%the%Scheme%to%persons%who%are%not%resident%in%the%United%Kingdom%may%be
restricted%by%the%laws%and/or%regula0ons%of%the%relevant%jurisdic0ons%in%which%they%are
located.%The%Scheme%will%not%be%made%available,%directly%or%indirectly,%in,%into%or%from%any
jurisdic0on%where%to%do%so%would%violate%the%laws%in%that%jurisdic0on.%Any%persons%who%are
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subject%to%the%laws%and%regula0ons%of%any%jurisdic0on%other%than%the%United%Kingdom%should
inform%themselves%about,%and%observe,%any%applicable%requirements.%Any%failure%to%comply
with%the%applicable%requirements%may%cons0tute%a%viola0on%of%the%laws%and/or%regula0ons%of
any%such%jurisdic0on.%Further%details%in%rela0on%to%overseas%shareholders%will%be%contained%in
the%Scheme%Document.
This%Announcement%has%been%prepared%for%the%purpose%of%complying%with%English%law%and%the
Takeover%Code%and%the%informa0on%disclosed%may%not%be%the%same%as%that%which%would%have
been%disclosed%if%this%Announcement%had%been%prepared%in%accordance%with%the%laws%of
jurisdic0ons%outside%of%England.
Dealing!Disclosure!Requirements
Under%Rule%8.3(a)%of%the%Takeover%Code,%any%person%who%is%interested%in%1%%or%more%of%any
class%of%relevant%securi0es%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%and%including%STERIS%in%this%instance)%must%make%an%Opening%Posi0on
Disclosure%following%the%commencement%of%the%oﬀer%period%and,%if%later,%following%the
announcement%in%which%any%paper%oﬀeror%is%ﬁrst%iden0ﬁed.
An%Opening%Posi0on%Disclosure%must%contain%details%of%the%person's%interests%and%short
posi0ons%in,%and%rights%to%subscribe%for,%any%relevant%securi0es%of%each%of%(i)%the%oﬀeree
company%and%(ii)%any%paper%oﬀeror(s).%An%Opening%Posi0on%Disclosure%by%a%person%to%whom
Rule%8.3(a)%applies%must%be%made%by%no%later%than%3.30%pm%(London%0me)%on%the%10th%business
day%following%the%commencement%of%the%oﬀer%period%and,%if%appropriate,%by%no%later%than%3.30
pm%(London%0me)%on%the%10th%business%day%following%the%announcement%in%which%any%paper
oﬀeror%is%ﬁrst%iden0ﬁed.%Relevant%persons%who%deal%in%the%relevant%securi0es%of%the%oﬀeree
company%or%of%a%paper%oﬀeror%prior%to%the%deadline%for%making%an%Opening%Posi0on%Disclosure
must%instead%make%a%Dealing%Disclosure.
Under%Rule%8.3(b)%of%the%Takeover%Code,%any%person%who%is,%or%becomes,%interested%in%1%%or
more%of%any%class%of%relevant%securi0es%of%the%oﬀeree%company%or%of%any%paper%oﬀeror%must
make%a%Dealing%Disclosure%if%the%person%deals%in%any%relevant%securi0es%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%posi0ons%in,%and%rights%to%subscribe%for,%any
relevant%securi0es%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%0me)
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%securi0es%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%Posi0on%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%ac0ng%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%securi0es%Opening
Posi0on%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%securi0es%in%issue,%when%the%oﬀer%period%commenced%and%when%any
oﬀeror%was%ﬁrst%iden0ﬁed.%If%you%are%in%any%doubt%as%to%whether%you%are%required%to%make%an
Opening%Posi0on%Disclosure%or%a%Dealing%Disclosure,%you%should%contact%the%Panel's%Market
Surveillance%Unit%on%+44%(0)20%7638%0129.
Publica<on!on!Website
A%copy%of%this%Announcement%and%other%documents%in%connec0on%with%the%Scheme%will,
subject%to%certain%restric0ons,%be%available%for%inspec0on%on%Synergy's%website%at
www.synergyhealthplc.com.%The%contents%of%the%website%referred%to%in%this%Announcement%is
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not%incorporated%into,%and%does%not%form%part%of,%this%Announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFEVIILVFIS
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