Mar 12, 2020
Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, can confirm, following a request for clarification made to him, that Mr. Arron Banks has informed the Company that he does not intend to make an offer for the Company.
Mr. Banks, and an associate of his, had made a number of statements through the media indicating that he was actively considering a possible offer for the entire issued and to be issued share capital of Iofina (the “Possible Offer”). Until today, the Company had not received any communications regarding the Possible Offer from Mr. Banks.
This is a statement to which Rule 2.8 of The City Code on Takeovers and Mergers (the “Code”) applies and Mr. Banks has consented to the restrictions of Rule 2.8 of the Code. Under Rule 2.8 of the Code, Mr. Banks and any person acting in concert with him will be subject to the restrictions in Rule 2.8 that include, inter alia, that for a period of six months from the date of this announcement they shall not announce an offer or possible offer for Iofina.
The requisition previously announced on 10 March 2020 is unaffected.
Enquiries:
Dr. Tom Becker
CEO & President
Iofina plc
Tel: +1 859 356 8000
Christopher Raggett/Giles Rolls/Matthew Radley (corporate finance)