Statement From Ebix, Inc.
December 10 2015 - 7:30AM
Ebix, Inc. (NASDAQ:EBIX), a leading international supplier of
on-demand software and e-commerce services to the insurance,
financial and healthcare industries today confirmed its continued
interest in making an offer for Xchanging plc ("Xchanging") while
noting the announcement made by the Takeover Panel.
This announcement is not intended to, and does
not, constitute or form part of any offer, invitation or the
solicitation of an offer to purchase, otherwise acquire, subscribe
for, sell or otherwise dispose of any securities, or the
solicitation of any vote or approval in any jurisdiction. This
announcement does not constitute an announcement of a firm
intention to make an offer under Rule 2.7 of the City Code on
Takeovers and Mergers (the "Code"). Accordingly, there can be no
certainty that any offer will ultimately be made.
A further announcement will be made in due
course.
A copy of this announcement will be available on
Ebix's website at www.ebix.com/investorhome.
About Ebix, Inc.
A leading international supplier of On-Demand
software and E-commerce services to the insurance, financial and
healthcare industries, Ebix, Inc., (NASDAQ:EBIX) provides
end-to-end solutions ranging from infrastructure exchanges, carrier
systems, agency systems and risk compliance solutions to custom
software development for all entities involved in the insurance
industry.
With 40+ offices across Brazil, Singapore,
Australia, the US, UK, New Zealand, India and Canada, Ebix powers
multiple exchanges across the world in the field of life, annuity,
health and property & casualty insurance while conducting in
excess of $100 billion in insurance premiums on its platforms.
Through its various SaaS-based software platforms, Ebix employs
hundreds of insurance and technology professionals to provide
products, support and consultancy to thousands of customers on six
continents. For more information, visit the Company's website at
www.ebix.com.
Disclaimer
Kinmont Limited, which is authorized and
regulated in the United Kingdom by the Financial Conduct Authority,
is acting exclusively for Ebix and no one else in connection with
the contents of this announcement and will not be responsible to
anyone other than Ebix for providing the protections afforded to
clients of Kinmont Limited or for providing advice in relation to
the contents of this announcement or any other matter related to
the contents of this announcement. Neither Kinmont nor any of its
affiliates owes or accepts any duty, liability or responsibility
whatsoever (whether direct or indirect, whether in contract, in
tort, under statute or otherwise) to any person who is not a client
of Kinmont in connection with this announcement, any statement
contained herein or otherwise.
Disclosure requirements of the Takeover
Code (the "Code")
Under Rule 8.3(a) of the Code, any person who is
interested in 1% or more of any class of relevant securities of an
offeree company or of any securities exchange offeror (being any
offeror other than an offeror in respect of which it has been
announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement
of the offer period and, if later, following the announcement in
which any securities exchange offeror is first identified. An
Opening Position Disclosure must contain details of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 pm (London time) on the 10th business day following the
commencement of the offer period and, if appropriate, by no later
than 3.30 pm (London time) on the 10th business day following the
announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who
is, or becomes, interested in 1% or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each of
(i) the offeree company and (ii) any securities exchange
offeror(s), save to the extent that these details have previously
been disclosed under Rule 8. A Dealing Disclosure by a person to
whom Rule 8.3(b) applies must be made by no later than 3.30 pm
(London time) on the business day following the date of the
relevant dealing. If two or more persons act together pursuant to
an agreement or understanding, whether formal or informal, to
acquire or control an interest in relevant securities of an offeree
company or a securities exchange offeror, they will be deemed to be
a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made
by the offeree company and by any offeror and Dealing Disclosures
must also be made by the offeree company, by any offeror and by any
persons acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in
respect of whose relevant securities Opening Position Disclosures
and Dealing Disclosures must be made can be found in the Disclosure
Table on the Takeover Panel's website at
www.thetakeoverpanel.org.uk, including details of the number of
relevant securities in issue, when the offer period commenced and
when any offeror was first identified. You should contact the
Panel's Market Surveillance Unit on +44 (0) 20 7638 0129 if you are
in any doubt as to whether you are required to make an Opening
Position Disclosure or a Dealing Disclosure.
CONTACT:
Ebix Investor Relations
Aaron Tikkoo +1 678 -281-2027 or atikkoo@ebix.com
Catalyst Global, LLC (Investor Relations Adviser to Ebix)
David Collins
Tanya Kamatu
Chris Eddy +1 212-924-9800 or ebix@catalyst-ir.com
Kinmont (Financial Adviser to Ebix)
Gavin Kelly
Mat Thackery +44 (0) 207 087 9100
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