Major Interest in Shares
October 11 2006 - 3:01AM
UK Regulatory
RNS Number:2727K
Norwood Immunology Ld
11 October 2006
FOR IMMEDIATE RELEASE 11 OCTOBER 2006
NORWOOD IMMUNOLOGY LIMITED
('Norwood Immunology' or 'the Company')
NOTIFICATION OF MAJOR INTERESTS IN SHARES
Norwood Immunology Limited ('the Company' or 'NIM') (AIM: NIM), the company
focussed on the rejuvenation of the immune system, announces that Norwood Abbey
Ltd ("NAL") has, on 10 October 2006, sold 13,261,427 ordinary shares it owns in
NIM ("NIM Shares") to Tiedemann Global Emerging Markets QP L.P. ("Tiedemann")
for a total consideration of approximately US$3 million, to extinguish a
convertible debt facility extended by Tiedemann to NAL in August 2005.
The sale by NAL represents 10.7% of NIM's current issued share capital.
Following this transaction, NAL has an interest in 48,958,227 NIM Shares,
representing 39.5% of NIM's current issued share capital.
Under the sale, Tiedemann has purchased 13,261,427 NIM Shares representing 10.7%
of NIM's current issued share capital, which brings the total number of NIM
Shares held by Tiedermann to 13,261,427, representing 10.7% of NIM's current
issued share capital.
For further information please contact:
Richard Williams, Chief Executive Officer, Norwood Immunology Limited
+44 (0) 7860 295153
Lisa Baderoon, Mark Court, Mary-Jane Johnson, Buchanan Communications
+44 (0) 207 466 5000
Notes for editors:
Norwood Immunology has licensed its immunology intellectual property to TAP
Pharmaceutical Products Inc. for commercialization in the United States,
utilizing TAP's GnRH analogue, Lupron Depot(R) (leuprolide acetate for depot
suspension). This combined initiative is exploring the use of Lupron Depot in
regenerating the thymus gland and in turn "re-booting" the body's immune system,
enabling patients to better recover from life-threatening diseases.
TAP Pharmaceutical Products Inc., located in Lake Forest, IL., U.S.A., is a
joint venture between Abbott, headquartered in Abbott Park, IL., U.S.A ., and
Takeda Pharmaceutical Company Limited of Osaka, Japan. TAP currently markets
Lupron Depot and Prevacid(R) (lansoprazole). For more information about TAP and
its products, please visit the company's web site at www.tap.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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