Medserv plc - Sourcing of Strategic Purchaser

Wednesday, May 2nd, 2018

On 30 April 2018, Medserv plc announced that its two major shareholders – namely, Mr Anthony Diacono (who holds 31.17% of the company’s issued share capital) and Malampaya Investments Limited (which has a 34.33% stake in Medserv and that is ultimately owned by Mr Anthony Duncan) – intend to source a strategic purchaser to acquire all or part of their shareholding in Medserv.

The two major shareholders are confident that, with its strong business pipeline, Medserv is well placed to secure current and prospective business opportunities. Nonetheless, a strategic purchaser should accelerate and further supplement the growth and internationalisation strategy of Medserv. This view is also shared by the Board of Directors.

The announcement further explains that the sale process is at a very early stage and there is no certainty that a suitable purchaser will be found or that negotiations will, once commenced, be successful. In the meantime, the two major shareholders have requested the company to obtain the authority, originally provided by shareholders during the Extraordinary General Meeting held on 12 October 2015, to disclose to any bona fide offeror such information in relation to the Medserv group of companies, including unpublished price-sensitive information, as may be necessary to enable any bona fide offeror and its advisers to make, confirm, withdraw or modify any bona fide offer made for a substantial shareholding in the company. Accordingly, the two major shareholders have requested the Board of Directors to place this item on the agenda of the next Annual General Meeting scheduled to take place on the 28 May 2018.

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