Hikma Pharmaceuticals Plc Shareholders' Agreement and Board Appointment (1367K)
December 24 2015 - 2:52AM
UK Regulatory
TIDMHIK
RNS Number : 1367K
Hikma Pharmaceuticals Plc
24 December 2015
Shareholders' Agreement and Board Appointment
London, 24 December 2015 - Hikma Pharmaceuticals PLC (LSE: HIK)
(DIFX: HIK) ("Hikma"), the FTSE 100 pharmaceuticals company, is
today announcing an update on its agreement to acquire Roxane
Laboratories Inc. and Boehringer Ingelheim Roxane Inc. (together
"Roxane") from Boehringer Ingelheim ("BI").
New Director Nomination Right
Hikma has agreed that BI may nominate one non-executive director
to Hikma's Board of Directors from time to time for so long as BI
has a shareholding in Hikma representing 10% or more of Hikma's
issued share capital. This right will be contained in the
shareholders' agreement that will be entered into and come into
effect at the closing of the acquisition of Roxane from BI.
BI have nominated and the Board has approved the appointment of
Dr. Jochen Gann as BI's first nominated director of the Company. A
profile of Dr. Gann is set out below. Dr. Gann's appointment will
take effect from the closing of the Roxane acquisition. Dr. Gann
will be a non-executive director of Hikma under a letter of
appointment in the same form as Hikma's existing non-executive
directors. Dr. Gann will be required to comply with the provisions
of Hikma's Board Governance Manual.
Update on Timing for Closing
Hikma and BI have made significant progress towards completing
the acquisition of Roxane, and expect the closing to occur by the
end of February 2016, following the approval of Hikma's
shareholders.
Said Darwazah, Chairman and Chief Executive, said: "I am
delighted that Jochen has agreed to join our Board. We have been
working closely with Jochen over the past two years on the Bedford
and Roxane acquisitions and have formed an excellent relationship
with him, both at a management and board level. Jochen brings a
wealth of corporate action, pharmaceutical and global business
experience. I am confident that he will enhance the capabilities of
the Board and that the appointment will help to further strengthen
our relationship with BI."
Dr Jochen Gann
Dr. Jochen Gann is Global Head of Corporate Finance / M&A
and Corporate Vice President at Boehringer Ingelheim GmbH. In his
M&A role he leads Boehringer Ingelheim's mergers and
acquisitions activities across all businesses. He is also
responsible for Business Development & Licensing (Strategic
Transaction and Alliance Management) for Boehringer's prescription
medicine division. In addition in his role as Corporate Treasurer
he is responsible for the group's financing, asset management, risk
management, and liquidity and credit management activities as well
as the corporate banking strategy. Dr. Gann is also managing
director of the Corporate Venture Fund.
Dr. Gann has held several senior roles at Boehringer Ingelheim
including Head of Controlling Subsidiaries and Head of Tax. Prior
to joining Boehringer Ingelheim in 2007, Dr. Gann held the
positions of Head of Corporate Treasury at Cognis GmbH, Managing
Director at Degussa Bank GmbH, Head of Treasury Controlling at
Hoechst AG and Consultant at Metzler, Germany.
Dr. Gann holds a Doctorate Degree (International Finance) from
University of Hohenheim, Germany and a Master's Degree in Business
Administration and Science from University of Karlsruhe,
Germany.
Dr. Gann currently holds a number of board positions at
companies of the Boehringer Ingelheim group. He is also currently
Chairman of the Finance committee at Verband Der Chemischen
Industrie e. V., Germany and a Member of the Advisory Board KfW
IPEX-Bank GmbH, Germany.
There is no other information required to be disclosed in
respect of Dr. Gann's appointment under LR 9.6.13R of the Listing
Rules.
-- ENDS --
Enquiries:
Hikma Pharmaceuticals PLC +44 (0)20 7399
Peter Speirs, Company Secretary 2772
Susan Ringdal, Vice President, Corporate +44 (0)20 7399
Strategy & Investor Relations 2760
Financial Dynamics +44 (0)20 3727
Matthew Cole & Ben Atwell 1000
Notes to Editors:
About Hikma
Hikma Pharmaceuticals PLC is a fast growing 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 primarily in the
Middle East and North Africa ("MENA") region, where it is a market
leader, the United States and Europe. In 2014, Hikma achieved
revenues of $1,489 million and profit attributable to shareholders
of $278 million.
This information is provided by RNS
The company news service from the London Stock Exchange
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