Tender Offer (2795Q)
October 17 2011 - 4:00AM
UK Regulatory
TIDMHIK
RNS Number : 2795Q
Hikma Pharmaceuticals Plc
17 October 2011
PRESS RELEASE
Update on tender offer for remaining 36.1% of Promopharm
London, 17 October 2011 - Hikma Pharmaceuticals PLC (LSE: HIK)
(NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational
pharmaceutical group, today announces that Morocco's Conseil
Deontologique des Valeurs Mobilieres ("CDVM") has published the
details of the offer price of MAD 1,155 per share that Hikma plans
to make for its mandatory tender offer for the remaining 36.1%, or
361,015 shares, of Societe de Promotion Pharmaceutique du Maghreb
S.A. (Casablanca: PRO) ("Promopharm"). Hikma expects to launch the
mandatory tender offer before the end of the year.
On 3 October 2011, Hikma announced the acquisition of 63.9% of
Promopharm from a consortium of shareholders for an aggregate
consideration of $111.2 million (MAD 912.8 million).
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399
2760/07776 477 050
FTI Consulting +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational
pharmaceutical group focused on developing, manufacturing and
marketing a broad range of both branded and non-branded generic and
in-licensed products. Hikma's operations are conducted through
three businesses: "Branded", "Injectables" and "Generics" based
principally in the Middle East and North Africa ("MENA") region,
where it is a market leader, the United States and Europe. In 2010,
Hikma achieved revenues of $731 million and profit attributable to
shareholders of $99 million. For news and other information, please
visit www.hikma.com.
Forward looking statements
Certain statements in this announcement are forward-looking
statements - using words such as "intends", "believes",
anticipates" and "expects". Where included, these have been made by
the Directors in good faith based on the information available to
them up to the time of their approval of this announcement. By
their nature, forward-looking statements are based on assumptions
and involve inherent risks and uncertainties that could cause
actual results or events to differ materially from those expressed
or implied by the forward-looking statements, and should be treated
with caution. These risks, uncertainties or assumptions could
adversely affect the outcome and financial effects of the plans and
events described in this announcement. Forward-looking statements
contained in this announcement regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. You should not place undue
reliance on forward-looking statements, which speak as only of the
date of the approval of this announcement.
Except as required by law, the Company is under no obligation to
update or keep current the forward-looking statements contained in
this announcement or to correct any inaccuracies which may become
apparent in such forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
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