SYNERGY HEALTHCARE PLC RNS Numbe r : 5726N S te ris Co rp o ratio n
18 May 20 15
T HIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICAT ION OR DIST RIBUT ION, IN WHOLE OR IN PART, DIRECT LY OR INDIRECT LY IN OR INT O OR FROM ANY JURISDICT ION WHERE T O DO SO WOULD CONST IT UT E A VIOLAT ION OF T HE RELEVANT LAWS OF T HAT JURISDICT ION ST ERIS CORPORAT ION NEWS ANNOUNCEMENT FOR IMMEDIAT E RELEASE ST ERIS CORPORAT ION ENT ERS INT O NOT E PURCHASE AGREEMENT
On May 15, 2 015, ST ERIS Corporation (th e "Compan y" or "ST ERIS") en tered in to a Note Pu rch as e Agreemen t with variou s in s titu tion al in ves tors (th e "Note Pu rch as e Agreemen t"), providin g for th e private is s u an ce an d s al e on th e s ame date by th e Compan y of $350 mil l ion in aggregate prin cipal amou n t of th e Compan y's Series A Sen ior Notes (th e "Sen ior Notes "). T h e Compan y's obl igation s u n der th e Note Pu rch as e Agreemen t an d th e Sen ior Notes are u n s ecu red bu t gu aran teed by certain of th e Compan y's domes tic s u bs idiaries pu rs u an t to an Affil iate Gu aran ty. T h e n et proceeds of th e s al es wil l be u s ed to repay debt an d
for oth er corporate pu rpos es .
Copies of th e Note Pu rch as e Agreemen t an d th e Affil iate Gu aran ty are expected to be avail abl e on th e SEC's webs ite an d may be obtain ed with ou t ch arge at www.s ec.gov or at ST ERIS's webs ite at www.s teris -ir.com.
A copy of th is an n ou n cemen t wil l be avail abl e on ST ERIS's webs ite at h ttp://www.s teris .com/s yn ergy/acqu is ition .cfm.
In ves tor Con tact: Ju l ie Win ter, Director, In ves tor Rel ation s Tel : +1 4 4 0 392
72 4 5
Media Con tact:
Steph en Norton , Sen ior Director, Corporate Commu n ication s Tel : +1 4 4 0 392
74 82
Steph en San ds
Nich ol as Sh ott Tel : +4 4 2 0 7187 2 000
Al Garn er Tel : +1 2 12 632 6000
An drew Dickin s on Tel : +1 4 15 62 3 5000
Lazard & Co., Limited, wh ich is au th oris ed an d regu l ated in th e Un ited Kin gdom by th e Fin an cial Con du ct Au th ority, is actin g excl u s ivel y as fin an cial advis er to ST ERIS Corporation ("ST ERIS") an d New ST ERIS Limited ("New ST ERIS") an d n o
on e el s e in con n ection with th e propos ed tran s action , pu rs u an t to wh ich a wh ol l y own ed in direct s u bs idiary of New ST ERIS wil l merge with an d in to ST ERIS with ST ERIS s u rvivin g th e Merger as an in direct wh ol l y own ed s u bs idiary of New ST ERIS an d New ST ERIS wil l acqu ire al l of th e ou ts tan din g s h ares of Syn ergy Heal th pl c ("Syn ergy") by mean s of a cou rt-s an ction ed s ch eme of arran gemen t u n der En gl is h l aw (th e "Combin ation ") an d wil l n ot be res pon s ibl e to an yon e
oth er th an ST ERIS an d New ST ERIS for providin g th e protection s afforded to cl ien ts of Lazard & Co., Limited n or for providin g advice in rel ation to th e Combin ation or an y oth er matters referred to in th is An n ou n cemen t. Neith er Lazard & Co., Limited n or an y of its affil iates owes or accepts an y du ty, l iabil ity or res pon s ibil ity wh ats oever (wh eth er direct or in direct, wh eth er in con tract, in tort, u n der s tatu te or oth erwis e) to an y pers on wh o is n ot a cl ien t of Lazard & Co., Limited in con n ection with th is An n ou n cemen t, an y s tatemen t con tain ed h erein , th e Combin ation or oth erwis e.
Un der Ru l e 8.3(a) of th e Code, an y pers on wh o is in teres ted in 1% or more of an y cl as s of rel evan t s ecu rities of an offeree compan y or of an y s ecu rities exch an ge offeror (bein g an y offeror oth er th an an offeror in res pect of wh ich it h as been an n ou n ced th at its offer is , or is l ikel y to be, s ol el y in cas h ) mu s t make an Open in g Pos ition Dis cl os u re fol l owin g th e commen cemen t of th e offer period an d, if l ater, fol l owin g th e an n ou n cemen t in wh ich an y s ecu rities exch an ge offeror is firs t iden tified. An Open in g Pos ition Dis cl os u re mu s t con tain detail s of th e
pers on 's in teres ts an d s h ort pos ition s in , an d righ ts to s u bs cribe for, an y rel evan t s ecu rities of each of (i) th e offeree compan y an d (ii) an y s ecu rities exch an ge offeror(s ). An Open in g Pos ition Dis cl os u re by a pers on to wh om Ru l e 8.3(a) appl ies mu s t be made by n o l ater th an 3.30 pm (Lon don time) on th e 10th bu s in es s day fol l owin g th e commen cemen t of th e offer period an d, if appropriate, by n o l ater th an 3.30 pm (Lon don time) on th e 10th bu s in es s day fol l owin g th e an n ou n cemen t in wh ich an y s ecu rities exch an ge offeror is firs t iden tified. Rel evan t pers on s wh o deal in th e rel evan t s ecu rities of th e offeree compan y or of a s ecu rities exch an ge offeror prior to th e deadl in e for makin g an Open in g Pos ition Dis cl os u re mu s t in s tead make a Deal in g Dis cl os u re.
Un der Ru l e 8.3(b) of th e Code, an y pers on wh o is , or becomes , in teres ted in 1% or more of an y cl as s of rel evan t s ecu rities of th e offeree compan y or of an y
s ecu rities exch an ge offeror mu s t make a Deal in g Dis cl os u re if th e pers on deal s in an y rel evan t s ecu rities of th e offeree compan y or of an y s ecu rities exch an ge offeror. A Deal in g Dis cl os u re mu s t con tain detail s of th e deal in g con cern ed an d of th e pers on 's in teres ts an d s h ort pos ition s in , an d righ ts to s u bs cribe for, an y rel evan t s ecu rities of each of (i) th e offeree compan y an d (ii) an y s ecu rities exch an ge offeror, s ave to th e exten t th at th es e detail s h ave previou s l y been dis cl os ed u n der Ru l e 8. A Deal in g Dis cl os u re by a pers on to wh om Ru l e 8.3(b) appl ies mu s t be made by n o l ater th an 3.30 pm (Lon don time) on th e bu s in es s day fol l owin g th e date of th e rel evan t deal in g.
If two or more pers on s act togeth er pu rs u an t to an agreemen t or u n ders tan din g, wh eth er formal or in formal , to acqu ire or con trol an in teres t in rel evan t s ecu rities of an offeree compan y or a s ecu rities exch an ge offeror, th ey wil l be deemed to be a s in gl e pers on for th e pu rpos e of Ru l e 8.3.
Open in g Pos ition Dis cl os u res mu s t al s o be made by th e offeree compan y an d by an y offeror an d Deal in g Dis cl os u res mu s t al s o be made by th e offeree compan y, by an y offeror an d by an y pers on s actin g in con cert with an y of th em (s ee Ru l es 8.1,
8.2 an d 8.4 ).
Detail s of th e offeree an d offeror compan ies in res pect of wh os e rel evan t s ecu rities Open in g Pos ition Dis cl os u res an d Deal in g Dis cl os u res mu s t be made can be fou n d in th e Dis cl os u re Tabl e on th e Takeover Pan el 's webs ite at www.th etakeoverpan el .org.u k, in cl u din g detail s of th e n u mber of rel evan t s ecu rities in is s u e, wh en th e offer period commen ced an d wh en an y offeror was firs t iden tified. You s h ou l d con tact th e Pan el 's Market Su rveil l an ce Un it on +4 4 (0)2 0 7638 012 9 if you are in an y dou bt as to wh eth er you are requ ired to make
an Open in g Pos ition Dis cl os u re or a Deal in g Dis cl os u re.
T h is commu n ication is provided for in formation al pu rpos es on l y an d does n ot con s titu te an offer to s el l , or an in vitation to s u bs cribe for, pu rch as e or exch an ge, an y s ecu rities or th e s ol icitation of an y vote or approval in an y ju ris diction , n or s h al l th ere be an y s al e, is s u an ce, exch an ge or tran s fer of th e s ecu rities referred to in th is commu n ication in an y ju ris diction in con traven tion of appl icabl e l aw.
Forward-Looking Statements
T h is commu n ication may con tain s tatemen ts con cern in g certain tren ds , expectation s , forecas ts , es timates , or oth er forward-l ookin g in formation affectin g or rel atin g to Syn ergy or ST ERIS or its in du s try, produ cts or activities th at are in ten ded to qu al ify for th e protection s afforded "forward-l ookin g s tatemen ts " u n der th e Private Secu rities Litigation Reform Act of 1995 an d oth er l aws an d regu l ation s . Forward-l ookin g s tatemen ts s peak on l y as to th e date of th is commu n ication an d may be iden tified by th e u s e of forward- l ookin g terms s u ch as "may," "wil l ," "expects ," "bel ieves ," "an ticipates ," "pl an s ," "es timates ," "projects ," "targets ," "forecas ts ," "ou tl ook," "impact," "poten tial ," "con fiden ce," "improve," "optimis tic," "del iver," "comfortabl e," "tren d", an d "s eeks ," or th e n egative of s u ch terms or oth er variation s on s u ch terms or comparabl e termin ol ogy. Man y importan t factors cou l d cau s e actu al res u l ts to differ material l y from th os e in th e forward-l ookin g s tatemen ts in cl u din g, with ou t l imitation , dis ru ption of produ ction or s u ppl ies , ch an ges in market con dition s , pol itical even ts , pen din g or fu tu re cl aims or l itigation , competitive factors , tech n ol ogy advan ces , action s of
regu l atory agen cies , an d ch an ges in l aws , govern men t regu l ation s , l abel in g or produ ct approval s or th e appl ication or in terpretation th ereof. Oth er ris k factors are des cribed h erein an d in ST ERIS an d Syn ergy's oth er s ecu rities fil in gs , in cl u din g Item 1A of ST ERIS's An n u al Report on Form 10-K for th e year en ded March 31, 2 014 dated May 2 9, 2 014 an d in Syn ergy's an n u al report an d accou n ts for th e year en ded 30 March 2 014 (s ection h eaded "prin cipal ris ks an d u n certain ties "). Man y of th es e importan t factors are ou ts ide of ST ERIS's or Syn ergy's con trol . No as s u ran ces can be provided as to an y res u l t or th e timin g of an y ou tcome regardin g matters des cribed in th is commu n ication or oth erwis e with res pect to an y regu l atory action , admin is trative proceedin gs , govern men t in ves tigation s , l itigation , warn in g l etters , con s en t decree, cos t redu ction s , bu s in es s s trategies , earn in gs or reven u e tren ds or fu tu re fin an cial res u l ts . Referen ces to produ cts an d th e con s en t decree are s u mmaries on l y an d s h ou l d
n ot be con s idered th e s pecific terms of th e decree or produ ct cl earan ce or l iteratu re. Un l es s l egal l y requ ired, ST ERIS an d Syn ergy do n ot u n dertake to u pdate or revis e an y forward-l ookin g s tatemen ts even if even ts make cl ear th at an y projected res u l ts , expres s or impl ied, wil l n ot be real ized. Oth er poten tial ris ks an d u n certain ties th at cou l d cau s e actu al res u l ts to differ material l y from th os e in th e forward-l ookin g s tatemen ts in cl u de, with ou t l imitation , (a) th e
receipt of approval of both ST ERIS's s h areh ol ders an d Syn ergy's s h areh ol ders , (b) th e regu l atory approval s requ ired for th e tran s action n ot bein g obtain ed on th e terms expected or on th e an ticipated s ch edu l e, (c) th e parties ' abil ity to meet expectation s regardin g th e timin g, compl etion an d accou n tin g an d tax treatmen ts of th e tran s action , (d) th e pos s ibil ity th at th e parties may be u n abl e to ach ieve expected s yn ergies an d operatin g efficien cies in con n ection with th e tran s action with in th e expected time-frames or at al l an d to s u cces s fu l l y in tegrate Syn ergy's operation s in to th os e of ST ERIS, (e) th e in tegration of Syn ergy's operation s in to th os e of ST ERIS bein g more difficu l t, time-con s u min g or cos tl y th an expected, (f) operatin g cos ts , cu s tomer l os s an d bu s in es s dis ru ption (in cl u din g, with ou t l imitation , difficu l ties in main tain in g rel ation s h ips with empl oyees , cu s tomers , cl ien ts or s u ppl iers ) bein g greater th an expected fol l owin g th e tran s action , (g)
th e reten tion of certain key empl oyees of Syn ergy bein g difficu l t, (h ) ch an ges in tax l aws or in terpretation s th at cou l d in creas e ou r con s ol idated tax l iabil ities , in cl u din g, if th e tran s action is con s u mmated, ch an ges in tax l aws th at wou l d res u l t in New ST ERIS bein g treated as a domes tic corporation for Un ited States federal tax pu rpos es , (i) th e poten tial for in creas ed pres s u re on pricin g or cos ts th at l eads to eros ion of profit margin s , (j) th e pos s ibil ity th at market deman d wil l n ot devel op for n ew tech n ol ogies , produ cts or appl ication s or s ervices , or bu s in es s in itiatives wil l take l on ger, cos t more or produ ce l ower ben efits th an an ticipated, (k) th e pos s ibil ity th at appl ication of or compl ian ce with l aws , cou rt ru l in gs , certification s , regu l ation s , regu l atory action s , in cl u din g with ou t l imitation th os e rel atin g to FDA warn in g n otices or l etters , govern men t in ves tigation s , th e ou tcome of an y pen din g FDA requ es ts , in s pection s or s u bmis s ion s , or oth er requ iremen ts or s tan dards may del ay, l imit or preven t n ew
produ ct in trodu ction s , affect th e produ ction an d marketin g of exis tin g produ cts or s ervices or oth erwis e affect ST ERIS's or Syn ergy's performan ce, res u l ts , pros pects or val u e, (l ) th e poten tial of in tern ation al u n res t, econ omic down tu rn or effects of cu rren cies , tax as s es s men ts , adju s tmen ts or an ticipated rates , raw material cos ts or avail abil ity, ben efit or retiremen t pl an cos ts , or oth er regu l atory compl ian ce cos ts , (m) th e pos s ibil ity of redu ced deman d, or redu ction s in th e rate of growth
in deman d, for ST ERIS's or Syn ergy's produ cts an d s ervices , (n ) th e pos s ibil ity th at an ticipated growth , cos t s avin gs , n ew produ ct acceptan ce, performan ce or approval s , or oth er res u l ts may n ot be ach ieved, or th at tran s ition , l abor, competition , timin g, execu tion , regu l atory, govern men tal , or oth er is s u es or ris ks as s ociated with ST ERIS an d Syn ergy's bu s in es s es , in du s try or in itiatives
in cl u din g, with ou t l imitation , th e con s en t decree or th os e matters des cribed in ST ERIS's Form 10-K for th e year en ded March 31, 2 014 an d oth er s ecu rities fil in gs , may advers el y impact ST ERIS's or Syn ergy's performan ce, res u l ts ,
pros pects or val u e, (o) th e pos s ibil ity th at an ticipated fin an cial res u l ts or ben efits of recen t acqu is ition s , or of ST ERIS's res tru ctu rin g efforts wil l n ot be real ized or wil l be oth er th an an ticipated, (p) th e effects of th e con traction s in credit avail abil ity, as wel l as th e abil ity of ST ERIS's an d Syn ergy's cu s tomers an d s u ppl iers to adequ atel y acces s th e credit markets wh en n eeded, an d (q) th os e ris ks des cribed in ST ERIS's An n u al Report on Form 10-K for th e year en ded March
31, 2 014 , an d oth er s ecu rities fil in gs .
Fol l owin g its con vers ion to a pu bl ic l imited compan y, it is expected th at th e s h ares of New ST ERIS to be is s u ed to Syn ergy Sh areh ol ders in th e En gl is h l aw s ch eme of arran gemen t tran s action th at forms a part of th e tran s action wil l be is s u ed in rel ian ce u pon th e exemption from th e regis tration requ iremen ts of th e Secu rities Act of 1933, as amen ded, provided by Section 3(a)(10) th ereof.
In con n ection with th e is s u an ce of New ST ERIS s h ares to ST ERIS s h areh ol ders pu rs u an t to th e merger th at forms a part of th e tran s action , New ST ERIS h as fil ed with th e SEC a Regis tration Statemen t on Form S-4 , wh ich was decl ared effective on Febru ary 6, 2 014 , th at con tain s a proxy s tatemen t of ST ERIS as wel l as a pros pectu s of New ST ERIS rel atin g to th e merger th at forms a part of th e tran s action , wh ich we refer to togeth er as th e Proxy Statemen t/Pros pectu s .
INVEST ORS AND SECURIT Y HOLDERS ARE URGED T O READ T HE PROXY STAT EMENT /PROSPECT US, AND OT HER DOCUMENT S FILED WIT H T HE SEC IN CONNECT ION WIT H T HE T RANSACT ION CAREFULLY AND IN T HEIR ENT IRET Y, BECAUSE T HEY CONTAIN IMPORTANT INFORMAT ION ABOUT T HE T RANSACT ION, T HE PART IES T O T HE T RANSACT ION AND T HE RISKS ASSOCIAT ED WIT H T HE T RANSACT ION. T h os e docu men ts , as wel l as ST ERIS's an d New ST ERIS's oth er pu bl ic fil in gs with th e SEC may be obtain ed with ou t ch arge at th e SEC's webs ite at www.s ec.gov, at ST ERIS's webs ite at www.steris-ir.com. Secu rity h ol ders an d oth er in teres ted parties may obtain , with ou t ch arge, a copy of th e Proxy Statemen t/Pros pectu s an d oth er rel evan t docu men ts (wh en avail abl e) by directin g a requ es t by mail or tel eph on e Ju l ie_Win ter@s teris .com or (4 4 0) 392 -72 4 5. Secu rity h ol ders may al s o read an d copy an y reports , s tatemen ts an d oth er in formation fil ed with th e SEC at th e SEC pu bl ic referen ce room at 100
F Street N.E., Room 1580, Was h in gton , D.C. 2 054 9. Pl eas e cal l th e SEC at (800)
732 -0330 or vis it th e SEC's webs ite for fu rth er in formation on its pu bl ic referen ce
room.
ST ERIS, its directors an d certain of its execu tive officers may be con s idered participan ts in th e s ol icitation of proxies in con n ection with th e tran s action s con templ ated by th e Proxy Statemen t/Pros pectu s . In formation abou t th e directors an d execu tive officers of ST ERIS is s et forth in its An n u al Report on Form 10-K for th e year en ded March 31, 2 014 , wh ich was fil ed with th e SEC on May 2 9, 2 014 ,
an d its proxy s tatemen t for its 2 014 an n u al meetin g of s h areh ol ders , wh ich was fil ed with th e SEC on Ju n e 9, 2 014 . Oth er in formation regardin g poten tial participan ts in th e proxy s ol icitation s an d a des cription of th eir direct an d in direct in teres ts , by s ecu rity h ol din gs or oth erwis e, is con tain ed in th e Proxy Statemen t/Pros pectu s .
Syn ergy an d New ST ERIS are each organ ized u n der th e l aws of En gl an d an d Wal es . Some of th e officers an d directors of Syn ergy an d New ST ERIS are res iden ts of cou n tries oth er th an th e Un ited States . As a res u l t, it may n ot be pos s ibl e to s u e Syn ergy, New ST ERIS or s u ch pers on s in a n on -US cou rt for viol ation s of US s ecu rities l aws . It may be difficu l t to compel Syn ergy, New ST ERIS
an d th eir res pective affil iates to s u bject th ems el ves to th e ju ris diction an d ju dgmen t of a US cou rt or for in ves tors to en force again s t th em th e ju dgmen ts of US cou rts .
T his info rmatio n is p ro vide d by RNS
T he co mp any ne ws se rvice fro m the Lo ndo n S to ck Exchang e
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