Vectura EGM approves the recommended offer for Innovata plc
13 Dec 2006
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
Vectura Group plc ("Vectura")
Recommended offer for Innovata plc ("Innovata") by Vectura
Result of Shareholder meeting
The board of Vectura is pleased to announce that at the Vectura Extraordinary General Meeting (the "Shareholder Meeting"), held earlier today in relation to the recommended offer for Innovata by Vectura (the “Proposal”), the Proposal has received the overwhelming support of shareholders, and at the Vectura Extraordinary General Meeting, the resolution approving the Acquisition was passed.
Implementation of the Scheme remains conditional upon Innovata Shareholder approval at the Innovata Extraordinary General Meeting and the Innovata Court Meeting, and satisfaction of the Conditions set out in the Admission Document posted to Innovata Shareholders on 24 November 2006.
Provided that the Court sanctions the Scheme of Arrangement and confirms the associated reduction of capital at the Court Hearing scheduled to take place on 15 January 2007, it is anticipated that, on 16 January 2007, the Scheme of Arrangement will become effective and dealings in the existing and New Vectura Shares will commence on AIM. New Vectura Shares will be credited to CREST accounts on the same date. It is expected that any certificates for New Vectura Shares will be despatched by not later than 30 January 2006.
Copies of the resolution passed at the Shareholder Meeting will be available for inspection by the public from tomorrow at, the offices of Olswang which is situated at: 90 High Holborn, London, WC1V 6XX (tel. no. +44 (0)20 7067 3000) during normal business hours on any weekday (public holidays excepted) until 16 January 2007.
Terms used in this announcement shall have the same meaning as in the Admission Document dated 24 November 2006 which was sent to Vectura Shareholders and Innovata Shareholders.
Enquiries
Vectura Group plc +44 (0) 1249 667 700
Chris Blackwell, Chief Executive
Anne Hyland, Chief Financial Officer
Piper Jaffray Ltd (Nominated Adviser and broker to Vectura) +44 (0)20 7743 8700
David Rasouly
Will Carnwath
Financial Dynamics +44 (0)20 7269 7156
David Yates
Anna Keeble
Piper Jaffray Ltd, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Vectura and no-one else in connection with the Acquisition and will not be responsible to anyone other than Vectura for providing the protections afforded to clients of Piper Jaffray Ltd nor for providing advice in relation to the Acquisition.
