PTI Protherics

    RNS Number : 2747J
  Protherics PLC
  01 December 2008
   

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

    London, 1 December 2008
    PROTHERICS PLC ("PROTHERICS")

    Offer Update: Court sanction of Scheme of Arrangement

    Protherics (LSE: PTI) and BTG plc ("BTG") (LSE: BGC) are pleased to announce that the High Court of Justice in England and Wales has
today made an order sanctioning the Scheme of Arrangement by which BTG's Acquisition of Protherics is being implemented. 

    In order for the Scheme to become effective in accordance with its terms, the Court will now need to confirm the associated Reduction of
Capital at the Reduction Court Hearing. This hearing will take place on 3 December 2008. Following the confirmation of the Reduction of
Capital by the Court, it is expected that the last day of dealings in Protherics Shares will be 3 December 2008 and the listing of
Protherics Shares will be cancelled at 8.00 a.m. on 4 December 2008, the anticipated Effective Date of the Scheme. An expected timetable of
principal events is set out in the Appendix to this announcement. 

    Terms defined in the Scheme Document shall have the same meaning(s) when used in this announcement. 

    Enquiries 


 Protherics
 Dr Andrew Heath, Chief Executive Officer         Tel: 020 7246 9950
 Rolf Soderstrom, Chief Financial Officer


 BTG
 Christine Soden, Chief Financial Officer         Tel: 020 7575 0000
 Andy Burrows, Director of Investor Relations


 Jefferies (financial adviser to Protherics)
 Ian Crosbie                                      Tel: 020 7029 8000
 Chris Snoxall (corporate broking)


 Rothschild (financial adviser to BTG)
 Dr Lynn Drummond                                 Tel: 020 7280 5000


 Nomura Code Securities (broker to Protherics)
 Chris Collins                                    Tel: 020 7776 1200


 Piper Jaffray (joint broker and adviser to BTG)
 Neil Mackison / Jamie Adams                      Tel: 020 3142 8700


 Credit Suisse (joint broker and adviser to BTG)
 Stephanie Leouzon / Tristan Lovegrove            Tel: 020 7888 8000


 Financial Dynamics
 Ben Atwell                                       Tel: 020 7831 3113

    Jefferies, which is authorised and regulated in the UK by the Financial Services Authority, is acting as financial adviser and broker to
Protherics in connection with the Acquisition and no-one else and will not be responsible to anyone other than Protherics for providing the
protections afforded to clients of Jefferies nor for providing advice in relation to the Acquisition nor any other matter referred to in
this announcement.

    Rothschild, which is authorised and regulated in the UK by the Financial Services Authority, is acting as financial adviser and sponsor
to BTG in connection with the Acquisition and no-one else and will not be responsible to anyone other than BTG for providing the protections
afforded to clients of Rothschild nor for providing advice in relation to the Acquisition nor any other matter referred to in this
announcement.

    Appendix
    Expected Timetable of Principal Events

 EVENT                                           TIME and DATE

 Reduction Court Hearing (to confirm the         3 December 2008
 Reduction of Capital)

 Last day of dealings in, and for registration   5.00 p.m. on 3
 of transfers of, and disablement in CREST of,   December 2008
 Protherics shares

 Scheme Record Time                              6.00 p.m. on 3
                                                 December 2008

 Effective Date                                  4 December 2008

 Cancellation of listing of Protherics Shares    8.00 a.m. on 4
                                                 December 2008

 Expected date of Admission of, and dealings     8.00 a.m. on 4
 in, New BTG Shares and crediting of New BTG     December 2008 
 Shares to CREST accounts

 Latest date for despatch of share certificates  18 December 2008
 in respect of New BTG Shares issued under the
 Scheme


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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