TIDMNSCI
RNS Number : 1482N
NetScientific PLC
15 January 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
15 January 2019
NetScientific plc
("NetScientific" or the "Company")
Termination of Formal Sales Process
On 20 December 2018, NetScientific plc (AIM: NSCI), the
transatlantic healthcare IP commercialisation group, announced,
inter alia, that, following its decision to conduct a review of
various strategic options open to it, announced on 26 November
2018, (the "Strategic Review"), it was not in receipt of any
approaches, and that it was not then in discussions with any
potential offeror concerning a sale of the Company.
This remains the case and the Board is not aware of any parties
who might now make such an approach or initiate such
discussions.
Accordingly, the Company confirms that it has closed the formal
sale process under the City Code on Takeovers and Mergers (the
"Takeover Code") that it had commenced as part of the Strategic
Review.
Following this announcement, the Company is no longer considered
to be in an "offer period" as defined in the Takeover Code and the
requirement to make disclosures under Rule 8 of the Takeover Code
has now ceased.
In light of the above, the Board continues to assess all of its
remaining strategic options, including seeking additional funding
from its shareholders and taking material action to reduce further
the Company's costs, which may include seeking a delisting.
Further announcements will be made as appropriate.
For more information, please contact:
NetScientific Tel: +44 (0)20 3514
François R. Martelet, M.D., CEO 1800
Ian Postlethwaite, CFO
WHIreland (NOMAD, Financial Adviser and Tel: +44 (0)20 7220
Broker) 1666
Chris Fielding / Jessica Cave / Chris
Viggor
Ondra (Financial Adviser) Tel: +44 (0)20 7082
Michael Tory / Michiel Bröker 8827
Consilium Strategic Communications Tel: +44 (0)20 3709
Mary-Jane Elliott / Chris Welsh / Laura 5700
Thornton
NetScientific@consilium-comms.com
About NetScientific
NetScientific is a transatlantic healthcare technology group
with an investment strategy focused on sourcing, funding and
commercialising technologies that significantly improve the health
and well-being of people with chronic diseases.
For more information, please visit the website at
http://www.NetScientific.net
Important notices
Ondra LLP, which is regulated in the United Kingdom by the
Financial Conduct Authority, is acting as joint financial adviser
exclusively for NetScientific and no one else in connection with
the matters set out in this announcement and will not regard any
other person as its client in relation to the matters set out in
this announcement and will not be responsible to anyone other than
NetScientific for providing the protections afforded to clients of
Ondra LLP, nor for providing advice in relation to any matter
referred to herein.
This announcement has been prepared by, and is the sole
responsibility of the Directors of NetScientific. WH Ireland
Limited, which is authorised and regulated in the United Kingdom by
the Financial Conduct Authority, is acting exclusively for
NetScientific and no one else in connection with the matters
referred to in this announcement and will not be responsible to
anyone other than NetScientific for providing the protections
afforded to clients of WH Ireland Limited., or for providing advice
in relation to the matters referred to in this announcement.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities whether pursuant to this
announcement or otherwise.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.
Cautionary note regarding forward-looking statements
This announcement may contain certain forward-looking
statements, beliefs or opinions, with respect to the financial
condition, results of operations, financial performance, business
strategy or plans for future operations the Company. These
forward-looking statements can be identified by the fact that they
do not relate only to historical or current facts. Forward-looking
statements often use words such as "anticipate", "target",
"expect", "estimate", "intend", "plan", "goal", "believe", "hope",
"aims", "continue", "will", "may", "should", "would", "could", or
other words of similar meaning. These statements are based on
assumptions and assessments made by the Company in light of their
experience and their perception of historical trends, current
conditions, future developments and other factors they believe
appropriate.
By their nature, forward-looking statements involve risk and
uncertainty, because they relate to events and depend on
circumstances that will occur in the future and the factors
described in the context of such forward-looking statements in this
announcement could cause actual results and developments to differ
materially from those expressed in or implied by such
forward-looking statements. Although it is believed that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct and you are therefore cautioned not to
place undue reliance on these forward-looking statements which
speak only as at the date of this announcement.
The Company does not assume any obligation to, and does not
intend to, update or correct the information contained in this
announcement (whether as a result of new information, future events
or otherwise), except as required by applicable law. There are
several factors which could cause actual results to differ
materially from those expressed or implied in forward-looking
statements. Among the factors that could cause actual results to
differ materially from those described in the forward-looking
statements are changes in global, political, economic, business,
competitive, market and regulatory forces, future exchange and
interest rates, changes in tax rates and future business
combinations or disposals.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCCKPDKDBKDPDD
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January 15, 2019 06:08 ET (11:08 GMT)
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