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MedservRegis Plc
Legal Proceedings Report • Jun 4, 2021
2071_rns_2021-06-04_b7e1c111-c1e1-4e6a-a06b-0781a247a3bc.pdf
Legal Proceedings Report
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COMPANY ANNOUNCEMENT MEDSERV P.L.C. (THE "COMPANY")
Information to the Market
| Date of Announcement | 4 June 2021 |
|---|---|
| Reference | 240/2021 |
| Listing Rule | LR 5.61 |
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Reference is made to the article which appeared on the Lovin' Malta portal on the 3rd June 2021 entitled "'Benefits Outweigh Risks', Medserv Says About Deal With Oilfield Company With Angolan Connections" (the Article).
The Article makes reference to the prospective share for share exchange with Regis Holding Limited and its shareholders, announced to the market in the recent past (ref: 234/2021). The Article insinuates a series of potential wrongdoings by Mr Dave O'Connor and Mr Olivier Bernard (the Regis Shareholders) in a number of instances. The Company takes any allegations of this nature very seriously and with utmost importance. In the spirit of this, the Company wishes to assure the market that, following the due diligence exercise it had carried out and throughout its negotiations, the Company has had no reason to believe that the Regis Group or any of its shareholders were not of good repute.
Nevertheless, the Company has requested responses from the Regis Shareholders on the allegations raised in the said Article. The Regis Shareholders were forthcoming in their response and have strongly rebutted the said allegations and have presently given the Board of Directors comfort that they are devoid of merit.
The Company reiterates that issues relating to potentially illicit activities are taken very seriously by the Company and its board would not have recommended the share for share exchange transaction to its shareholders unless it believed that the said transaction was in the Company's best interest. Additionally, the Company considers its interactions with the Regis Shareholders to be based on honesty and transparency and indeed, the Regis Shareholders have confirmed their willingness to provide any information and documentation to the Company to evidence their integrity.
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Laragh Cassar Company Secretary