WALTHAM, Mass., June 30 /PRNewswire-FirstCall/ -- In connection with its proposed acquisition of London based, drugs of abuse testing company Concateno plc, announced on June 5 2009, Inverness Medical Innovations, Inc. (NYSE: IMA) has been requested by the UK Takeover Panel to remind Inverness shareholders through this announcement of their dealing disclosure obligations under Rule 8.3 of the UK Takeover Code.
Dealing disclosure requirements of the UK Takeover Code
Under the provisions of Rule 8.3 of the UK Takeover Code, if any person is, or becomes, "interested" (directly or indirectly) in one per cent (1%). or more of any class of "relevant securities" of either IMA or Concateno, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which the proposed acquisition becomes effective or the proposals lapse or are otherwise withdrawn, or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities", they will be deemed to be a single person for the purpose of Rule 8.3.
"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 Takeover Code, which can also be found on the Takeover 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 Takeover Panel whose contact details are:
Tel: +44 (0) 207 638 0129; Fax +44 (0) 207 236 7013; email: email@example.com.
By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. Inverness' global leading products and services, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts.
For additional information on Concateno, please visit www.concateno.com
|SOURCE Inverness Medical Innovations|
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