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Bids, Mergers and Takeovers

Hytera says continues positive talks with Sepura

12 December 2016 09:36

Hytera Communications Corporation Ltd said positive discussions are still continuing between it and Sepura regarding a possible offer for the entire issued and to be issued share capital of the latter company.

"If the Company finally makes a formal offer, it is expected to constitute a material contract. If the Matter makes further substantial progress, the Company will timely release relevant information," Hytera said in a statement.

Hytera confirmed the deadline for any announcement to make a formal offer has further been extended to 5 pm, Dec. 16, UK time. This deadline may be extended with the consent of the UK Panel on Takeovers and Mergers.

Any formal offer that might be made by Hytera was subject to significant uncertainties, it said.

"If the Company finally makes a formal offer which is currently subject to significant uncertainties, the effectiveness and implementation of the Matter will be subject to the approvals by the board and shareholders of both parties as well as a range of regulatory approvals which involve significant uncertainties.

"The Company reminds its investors that they should fully understand the stock market risks and the risks disclosed above and to enhance their risk awareness and conduct prudent decision-making and rational investment."

At 9:36am: (LON:SEPU) Sepura PLC share price was +0.5p at 20.75p

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