TIDMFWEB
RNS Number : 9480S
Fiberweb Plc
13 November 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART,
IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT
JURISDICTION
For immediate release
13 November 2013
Recommended Cash Offer for
Fiberweb plc ("Fiberweb")
by
PGI Acquisition Limited ("PGI Acquisition")
(a wholly owned subsidiary of Polymer Group, Inc. ("PGI"))
to be implemented by means of a scheme of arrangement
under Part 26 of the Companies Act 2006
Court sanction of scheme of arrangement
Fiberweb is pleased to announce that the scheme of arrangement
(the "Scheme") in order to effect the recommended acquisition of
Fiberweb by PGI Acquisition (the "Acquisition") was today
sanctioned by the High Court of Justice in England and Wales. In
order for the Scheme to become effective in accordance with its
terms, the Court will now need to confirm the associated Reduction
of Capital at the Second Court Hearing. The Acquisition also
remains conditional upon copies of the Court orders relating to the
Scheme and the Reduction of Capital being delivered to the
Registrar of Companies and, if the Court so orders in order for it
to become effective, the Court order relating to the Reduction of
Capital being registered by the Registrar of Companies. This is
expected to take place on 15 November 2013.
Dealings in Fiberweb Shares are expected to be suspended at 5.00
p.m. on 14 November 2013.
Subject to Court confirmation of the associated Reduction of
Capital and the timing of the delivery of the Court Orders to
Companies House, the Effective Date is expected to be 15 November
2013. Further details of the expected timetable of principal events
are set out below.
Upon the Scheme becoming effective, the consideration of 102
pence per Fiberweb Share to be paid to Fiberweb Shareholders
pursuant to the terms of the Scheme is expected to be dispatched
(in the case of certificated holders of Fiberweb Shares) or settled
in CREST (in the case of uncertificated holders of Fiberweb Shares)
no later than 29 November 2013.
Expected timetable of principal events
All times shown above and in the following table are London
times, unless otherwise stated. The times and dates shown above and
in the following table are the expected times and dates only and
are subject to change, please see the Scheme Document published on
30 September 2013 for further information about the timetable:
Event Time and/or date
---------------------------------------------------- ------------------
Last day of dealings in, and for registration 14 November 2013
of transfers of and disablement in CREST of,
Fiberweb Shares
---------------------------------------------------- ------------------
Dealings in Fiberweb Shares suspended 5.00 p.m. on 14
November 2013
---------------------------------------------------- ------------------
Scheme Record Time 6.00 p.m. on 14
November 2013
---------------------------------------------------- ------------------
Second Court Hearing (to confirm Reduction of 15 November 2013
Capital)
---------------------------------------------------- ------------------
Effective Date of the Scheme 15 November 2013
---------------------------------------------------- ------------------
Cancellation of admission to trading and listing By no later than
of Fiberweb Shares on the Main Market of the 8.00 a.m. on 18
London Stock Exchange November 2013
---------------------------------------------------- ------------------
Despatch of cheques and crediting of CREST accounts no later than
for cash consideration due under the Scheme 29 November 2013
---------------------------------------------------- ------------------
Capitalised terms, unless otherwise defined in this
announcement, have the meaning given to them in the Scheme
Document.
Enquiries
Fiberweb +44 (0) 20 8090 6240
Daniel Dayan, Chief Executive Officer
Kate Miles, Group Finance Director
Lazard (Lead financial adviser to Fiberweb) +44 (0) 20 7187 2000
Richard Shaw
Aamir Khan
KPMG (Rule 3 adviser to Fiberweb) +44 (0) 20 7311 1000
Tom Franks
Chris Belsham
Numis (Joint broker to Fiberweb) +44 (0) 20 7260 1000
Etienne Bottari
Mark Lander
Peel Hunt (Joint broker to Fiberweb) +44 (0) 20 7418 8900
Justin Jones
Mike Bell
Weber Shandwick Financial (Public relations
adviser to Fiberweb) +44 (0) 20 7067 0700
Nick Oborne
Stephanie Badjonat
Important Notice
This announcement is for information purposes only, and is not
intended to and does not constitute, or form part of, an offer,
invitation or the solicitation of an offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of any
securities, or the solicitation of any vote or approval in any
jurisdiction.
Lazard, which is authorised and regulated in the United Kingdom
by the FCA, is acting exclusively as lead financial adviser to
Fiberweb and no one else in connection with the Acquisition, and
will not be responsible to anyone other than Fiberweb for providing
the protections afforded to clients of Lazard or for providing
advice in relation to the Acquisition or other matters referred to
in this announcement. Neither Lazard or any of its affiliates owes
or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Lazard
in connection with the Acquisition, any statement contained herein
or otherwise.
KPMG, which is authorised and regulated in the United Kingdom by
the FCA for investment business activities, is acting exclusively
as Rule 3 adviser to Fiberweb and no one else in connection with
the Acquisition, and will not be responsible to anyone other than
Fiberweb for providing the protections afforded to clients of KPMG
or for providing advice in relation to the Acquisition or other
matters referred to in this announcement. Neither KPMG or any of
its affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is
not a client of KPMG in connection with the Acquisition, any
statement contained herein or otherwise.
Peel Hunt, which is authorised and regulated in the United
Kingdom by the FCA, is acting exclusively for Fiberweb and no one
else in connection with the Acquisition, and will not be
responsible to anyone other than Fiberweb for providing the
protections afforded to clients of Peel Hunt or for providing
advice in relation to the Acquisition or other matters referred to
in this announcement. Neither Peel Hunt or any of its affiliates
owes or accepts any duty, liability or responsibility whatsoever
(whether direct or indirect, whether in contract, in tort, under
statute or otherwise) to any person who is not a client of Peel
Hunt in connection with the Acquisition, any statement contained
herein or otherwise.
Numis, which is authorised and regulated in the United Kingdom
by the FCA, is acting exclusively for Fiberweb and no one else in
connection with the Acquisition, and will not be responsible to
anyone other than Fiberweb for providing the protections afforded
to clients of Numis or for providing advice in relation to the
Acquisition or other matters referred to in this announcement.
Neither Numis or any of its affiliates owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect,
whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Numis in connection with the
Acquisition, any statement contained herein or otherwise.
The Acquisition will be made solely by means of the Scheme
Document or any document by which the Acquisition is made which
will contain the full terms and Conditions of the Acquisition,
including details of how to vote in respect of the acquisition.
This announcement has been prepared for the purpose of complying
with English law and the Code and the information 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
jurisdictions outside the United Kingdom.
Fiberweb urges Fiberweb Shareholders to read the Scheme Document
because it contains important information relating to the
Acquisition.
Overseas shareholders should refer to the sections of the Scheme
Document entitled "Overseas jurisdictions" and "Notice to US
investors in Fiberweb", which contain important information
relevant to such holders.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested
(directly or indirectly) in 1% or more of any class of relevant
securities of any party to the offer (other than a cash offeror)
must make an Opening Position Disclosure after the commencement of
the offer period and, if later, after the announcement that first
identifies any offeror (other than a cash offeror). 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 any party to the offer (other than a cash offeror).
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
day falling 10 business days after the commencement of the offer
period or the announcement that first identifies an offeror (as the
case may be). Relevant persons who deal in the relevant securities
of any party to the offer (other than a cash 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 as a result
of any dealing becomes) interested (directly or indirectly) in 1%
or more of any class of relevant securities of any party to the
offer (other than a cash offeror) must make a Dealing Disclosure if
the person deals in any relevant securities of any party to the
offer (other than a cash offeror) during an offer period. 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 any party to the offer (other than
a cash 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.
Where two or more persons act pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities, they will normally 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. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
Publication on websites
Copies of this announcement will be available free of charge,
subject to certain restrictions relating to persons resident in
Restricted Jurisdictions, on the websites of Fiberweb at
www.fiberweb.com and PGI Acquisition at
www.polymergroupinc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
OUPUOASRORAAAAA
Fiberweb (LSE:FWEB)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
Fiberweb (LSE:FWEB)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024
