NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE").
FOR IMMEDIATE RELEASE
Tokyo, Japan and London, UK, 25 April 2018 – Sosei Group Corporation (“Sosei”) notes the recent press speculation regarding a possible offer for Vectura Group plc (“Vectura”). Sosei confirms that it does not intend to make an offer for Vectura.
As a result of this announcement, Sosei will, except with the consent of the UK Panel on Takeovers and Mergers (the “Panel”), be bound by the restrictions contained in Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, Sosei, and any person acting in concert with Sosei, reserves the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of Vectura; (ii) if any third party announces a firm intention to make an offer for Vectura; (iii) if Vectura announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or (iv) if there has been a material change of circumstances (as determined by the Panel).