TIDMBGC TIDMBII
RNS Number : 9755Z
BTG PLC
24 January 2011
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
London, 24 January 2011
BTG PLC ("BTG")
Offer Update: Court sanction of the Scheme of Arrangement and
timetable update
BTG is pleased to announce that the High Court of Justice in
England and Wales has today made an order sanctioning the Scheme of
Arrangement by which BTG's Acquisition of Biocompatibles
International plc is being implemented.
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 Reduction Court Hearing. This hearing
will take place on 26 January 2011. Following the confirmation of
the Reduction of Capital by the Court, it is expected that the last
day of dealings in Biocompatibles Shares will be 26 January 2011
and the listing of Biocompatibles Shares will be cancelled at 8.00
a.m. on 28 January 2011. The expected date for Admission of the New
BTG Shares is now 8.00 a.m. on 28 January 2011. An expected
timetable of principal events is set out in the Appendix to this
announcement.
Terms defined in the Scheme Document shall have the same
meaning(s) when used in this announcement.
Enquiries
BTG
Louise Makin, Chief Executive Officer Tel: +44 (0)20 7575
0000
Rolf Soderstrom, Chief Financial Officer Tel: +44 (0)20 7575
0000
Andy Burrows, Director of Investor Relations Tel: +44 (0)20 7575
1741
Biocompatibles
Crispin Simon, Chief Executive Officer Tel: +44 (0)1252
732706
Ian Ardill, Chief Financial Officer Tel: +44 (0)1252 732706
Rothschild (financial adviser and joint sponsor to BTG)
Dominic Hollamby Tel: +44 (0)20 7280 5000
Julian Hudson Tel: +44 (0)20 7280 5000
J.P. Morgan Cazenove (joint sponsor and corporate broker to
BTG)
James Mitford Tel: +44 (0)20 7742 4000
Gina Gibson Tel: +44 (0)20 7742 4000
Piper Jaffray (financial adviser to Biocompatibles)
Rupert Winckler Tel: +44 (0)20 3142 8700
James White Tel: +44 (0)20 3142 8700
Nomura Code (corporate broker to Biocompatibles)
Chris Collins Tel: +44 (0)20 7776 1200
Financial Dynamics (financial public relations adviser to
BTG)
Ben Atwell Tel: +44 (0)20 7831 3113
John Dineen Tel: +44 (0)20 7831 3113
Anna Keeble (financial public relations adviser to
Biocompatibles)
Anna Keeble Tel: +44 (0)78 7981 8876
Rothschild, which is authorised and regulated in the UK by the
FSA, is acting as sole financial adviser and joint sponsor to BTG
in connection with the Acquisition and no one else and will not be
responsible to anyone other than BTG for providing the protections
afforded to clients of Rothschild nor for providing advice in
relation to the Acquisition or any other matter referred to in this
announcement.
J.P. Morgan Cazenove, which is authorised and regulated in the
UK by the FSA, is acting as joint sponsor and corporate broker to
BTG in connection with the Acquisition and no one else and will not
be responsible to any other person for providing the protections
afforded to clients of J.P. Morgan Cazenove nor for providing
advice in relation to the Acquisition or any other matter referred
to in this announcement.
Piper Jaffray, which is authorised and regulated in the UK by
the FSA, is acting as financial adviser to Biocompatibles in
connection with the Acquisition and no one else and will not be
responsible to anyone other than Biocompatibles for providing the
protections afforded to clients of Piper Jaffray nor for providing
advice in relation to the Acquisition or any other matter referred
to in this announcement.
Nomura Code, which is authorised and regulated in the UK by the
FSA, is acting as corporate broker to Biocompatibles in connection
with the Acquisition and no one else and will not be responsible to
anyone other than Biocompatibles for providing the protections
afforded to clients of Nomura Code nor for providing advice in
relation to the Acquisition or any other matter referred to in this
announcement.
Appendix Expected Timetable of Principal Events
EVENT TIME and DATE
Reduction Court Hearing (to confirm the Reduction 26 January
2011
of Capital)
Last day of dealings in, and for registration 5.00 p.m. on 26
January 2011
of transfers of, and disablement in CREST of,
Biocompatibles shares
Scheme Record Time 6.00 p.m. on 26 January 2011
Effective Date 27 January 2011
Cancellation of listing of Biocompatibles Shares 8.00 a.m. on 28
January 2011
Expected date of Admission of, and dealings in, 8.00 a.m. on 28
January 2011
New BTG Shares and crediting of New BTG
Shares to CREST accounts
Latest date for despatch of share certificates 10 February
2011
in respect of New BTG Shares issued under
the Scheme and the Contingent Value Notes
and for payment of the Partial Cash Consideration
This information is provided by RNS
The company news service from the London Stock Exchange
END
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