REG - Kinovo PLC - Statement regarding possible offer

KinovoAnnouncement

01/09/2023 11:00

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RNS Number : 1358L  Kinovo PLC  01 September 2023

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 SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS
AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM
INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO
CERTAINTY THAT ANY FIRM OFFER WILL BE MADE NOR AS TO THE TERMS ON WHICH ANY
FIRM OFFER MIGHT BE MADE.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

For immediate release

1(st) September 2023

Kinovo plc ("Kinovo" or the "Company")

Statement regarding possible offer

On 24 August 2023, Kinovo announced that it had received a non-binding
indicative offer from Rx3 Holdings Limited ("Rx3") which may or may not lead
to an offer being made by Rx3 for the entire issued and to be issued share
capital of Kinovo at a price of 56 pence per share, payable in cash (the
"Possible Offer"). Rx3 and Tipacs2 Limited ("Tipacs2") are both ultimately
owned by Mr Tim Scott.

The Directors have concluded that if the Possible Offer of 56 pence per share
was made by Rx3 they will not be recommending it to shareholders. The
Directors have undertaken a process of consultation with certain key
shareholders and considered direct shareholder feedback in reaching this
conclusion.

 

Shareholders are urged to take no action at this time.

This announcement has been made by Kinovo without the approval of Rx3.

In accordance with Rule 2.6(a) of the Code, Rx3 must, by no later than 5.00
p.m. (London time) on 21 September 2023, either announce a firm intention to
make an offer for Kinovo in accordance with Rule 2.7 of the Code, or announce
that it does not intend to make an offer, in which case the announcement will
be treated as a statement to which Rule 2.8 of the Code applies. The deadline
can be extended with the consent of the Takeover Panel in accordance with Rule
2.6(c) of the Code.

Enquiries

 Kinovo plc
 Sangita Shah, Chair                                                           +44 (0)20 7796 4133

 David Bullen, Chief Executive Officer                                         (via Hudson Sandler)

 Canaccord Genuity Limited (Financial Adviser, Nominated Adviser and Broker)   +44 (0)20 7523 8000
 Bobbie Hilliam

 Adam James

 Andrew Potts

 Harry Rees

 Hudson Sandler (Financial PR)                                                 +44 (0) 20 7796 4133
 Dan de Belder
 Harry Griffiths

Canaccord Genuity Limited, which is authorised and regulated in the United
Kingdom by the FCA, is acting as financial adviser and corporate broker
exclusively for Kinovo and for no one else in connection with the Possible
Offer and will not regard any other person as its client in relation to the
matters referred to in this announcement and will not be responsible to anyone
other than Kinovo for providing the protections afforded to clients of
Canaccord Genuity Limited, nor for providing advice in relation to the
Possible Offer or any other matter referred to in this announcement.

The person responsible for arranging the release of this announcement on
behalf of Kinovo plc is Sangita Shah.

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

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