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 OR REGULATIONS OF
THAT JURISDICTION.
1 May 2012
GoIndustry-DoveBid plc
Response to recent movement in share price and commencement
of offer period
The Board of GoIndustry-DoveBid plc ("GoIndustry-DoveBid" or
the "Company") notes the recent movement in the
share price of the Company and confirms that the Company is
in discussions with Liquidity Services, Inc, which may result
in an offer being made for the Company. There is no certainty
that these discussions will result in an offer being made for
the Company.
In accordance with Rule 2.6(a) of the Takeover Code,
Liquidity Services, Inc will have until
5.00pm on 29 May 2012 (or such later time and/or date as may
be agreed by the Takeover
Panel) to announce either a firm intention to make an offer
for GoIndustry-DoveBid or that it does not intend to make an
offer.
Further announcements will be made as appropriate. Enquiries:
Jack Reinelt GoIndustry DoveBid | Tel: 020 7098 3700 |
Leslie-Ann Reed GoIndustry DoveBid | Tel: 020 7098 3700 |
Chris Fielding WH Ireland Ltd | Tel: 020 7220 1650 |
A copy of this announcement will be available at www.
Go-Dove.com. The content of the website referred to in this
announcement is not incorporated into and does not form part
of this announcement.
WH Ireland Limited (which is authorised and regulated in the
United Kingdom by the Financial Services Authority) is acting
exclusively for the Company and for no one else in connection
with any possible offer and will not be responsible to anyone
other than the Company for providing the protections afforded
to WH Ireland clients nor for providing advice in relation to
any possible offer or any other matters referred to in this
announcement.
Rule 2.10 disclosure
In accordance with Rule 2.10 of the Code, the Company
confirms that it has 9,798,494 ordinary shares of 1p each in
issue and admitted to trading on the London Stock Exchange
with the ISIN GB00B5V5DB07. In addition, the Company has in
issue £500,000 of convertible loan notes which are
convertible into ordinary shares.
Dealing Disclosure Requirements of the Takeover Code (the
"Code")
Under Rule 8.3(a) of the Code, any person who is interested
in 1% or more of any class of relevant securities of an
offeree company or of any paper offeror (being any offeror
other than an offeror in respect of which it has been
announced that its offer is, or is likely to be,
solely in cash) must make an Opening Position Disclosure
following the commencement of the offer period and, if later,
following the announcement in which any paper offeror is
first identified. 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
each of (i) the offeree
company and (ii) any paper offeror(s). 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 10th business day following the
commencement of the offer period and, if appropriate, by no
later than 3.30 pm (London time) on the 10th business day
following the announcement in which any paper offeror is
first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a paper 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 becomes,
interested in 1% or more of any class of relevant securities
of the offeree company or of any paper offeror must make a
Dealing Disclosure if the person deals in any relevant
securities of the offeree company or of any paper offeror. 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 each of (i) the offeree company and (ii) any
paper 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.
If two or more persons act together pursuant to an agreement
or understanding, whether formal or informal, to acquire or
control an interest in relevant securities of an offeree
company or a paper offeror, they will 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. If you
are in any doubt as to whether you are required to make an
Opening Position Disclosure or a Dealing Disclosure, you
should contact the Panel's Market Surveillance Unit on
+44 (0)20 7638 0129.
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