17th Jan 2008 14:02
Hikma Pharmaceuticals Plc17 January 2008 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE UNITED ARAB EMIRATES Hikma Pharmaceuticals PLC 17 January 2008 HIKMA PHARMACEUTICALS PLC RESULT OF PLACING OF NEW ORDINARY SHARES PLACING PRICE SET AT 480 PENCE PER NEW ORDINARY SHARE Hikma Pharmaceuticals PLC ("Hikma") announces that, further to the announcement on 17 January 2008 (the "Announcement"),a total of 17 million new ordinary shares of 10 pence each in Hikma (the "Placing Shares") have been placed by Merrill Lynch International ("Merrill Lynch") and Citigroup Global Markets U.K. Equity Limited ("Citi") at a price of 480 pence per Placing Share, raising gross proceeds of approximately £81.6 million (the "Placing"). As part of the Placing 5.23 million Placing Shares have been placed with Darhold Limited at the Placing Price and 332,663 Placing Shares have been placed with the Darwazah family and other connected individuals at the Placing Price. The Placing Shares being issued represent 9.9 per cent of Hikma's issued ordinary share capital prior to the Placing. The Placing will enable the Hikma group to reduce borrowings incurred in connection with its JD116.0 million ($163.6 million) acquisition of Arab Pharmaceutical Manufacturing Company, announced on 10 December 2007, thereby providing Hikma with increased flexibility to finance future growth. Application will be made for, and the Placing is conditional upon, inter alia, admission of the Placing Shares to the Official List of the Financial Services Authority and admission to trading of the Placing Shares by London Stock Exchange plc on its main market for listed securities (together, "Admission"). It is expected that Admission will become effective and that dealings will commence in the Placing Shares at 8:00am on 22 January 2008. Subject to the conditions being satisfied, the Placing Shares will be issued credited as fully paid and will rank pari passu in all respects with Hikma's existing ordinary shares. Enquiries Hikma Pharmaceuticals PLC Susan Ringdal Direct Line: +44 20 7399 2760Investor Relations Director Mobile: +44 7776 477 050 Merrill Lynch International Lorcan O'Shea +44 20 7996 5949Andrew Fairclough +44 20 7996 0469Aukse Jurkute +44 20 7995 3700 Citigoup Global Markets U.K. Equity Limited Andrew Chapman +44 20 7986 0505Ronan Veale +44 20 7986 0433Darrell Uden +44 20 7986 0410 Brunswick Group LLP Jon Coles +44 20 7404 5959Justine McIlroy General This announcement is being issued by and is the sole responsibility of HikmaPharmaceuticals plc. No representation or warranty, express or implied, is orwill be made as to, or in relation to, and no responsibility or liability is orwill be accepted by the Managers or by any of their respective affiliates oragents as to or in relation to, the accuracy or completeness of thisannouncement, or any other written or oral information made available to orpublicly available to any prospective investor or its advisers, and anyliability therefore is hereby expressly disclaimed. Merrill Lynch and Citi are each acting exclusively for the Company and no-oneelse in relation to the Placing and will not be responsible to any person otherthan the Company for providing the protections afforded to their respectiveclients or for providing advice in relation to the Placing or in relation to thecontents of this announcement or any other transaction, arrangement or matterreferred to herein. This announcement is for information purposes only and does not constitute anoffer to issue or sell, or the solicitation of an offer to subscribe for oracquire, any securities to any person in any jurisdiction, including withoutlimitation in the United States, Canada, Australia or Japan. This announcementand the information contained herein is not for publication or distribution,directly or indirectly, to persons in the United States, Canada, Australia,Japan, the United Arab Emirates (the "UAE") or in any jurisdiction in which suchpublication or distribution is unlawful. The securities referred to in this announcement have not been, nor will they be,registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any State or otherjurisdiction of the United States, and accordingly may not be offered or soldwithin the United States except pursuant to an exemption from, or in atransaction not subject to, registration under the Securities Act. No publicoffering of the securities referred to herein will be made in the United States.Any offering to be made in the United States will be made to a limited number of"qualified institutional buyers" pursuant to an exemption from registrationunder the Securities Act in a transaction not involving any public offering. ThePlacing Shares are being offered and sold outside the United States inaccordance with Regulation S under the Securities Act. This announcement is not intended to constitute an offer, sale or delivery ofshares or other securities under the laws of the UAE. The securities referred toherein have not been and will not be registered under Federal Law No. 4 of 2000Concerning the Emirates Securities and Commodities Authority and the EmiratesSecurity and Commodity Exchange, or with the UAE Central Bank, the DubaiFinancial Market, the Abu Dhabi Securities market or with any other UAEexchange. The Placing, the Placing Shares and interests therein have not beenapproved or licensed by the UAE Central Bank or any other relevant licensingauthorities in the UAE, and do not constitute a public offer of securities inthe UAE in accordance with the Commercial Companies Law, Federal Law No. 8 of1984 (as amended) or otherwise. The Placing Shares are not being offered or sold in the Dubai InternationalFinancial Centre (the "DIFC") unless such offer is (a) deemed to be an ''ExemptOffer'', made in accordance with the Offered Securities Rules (the ''Rules'') ofthe Dubai Financial Services Authority (the "DFSA"); (b) made to QualifiedInvestors as defined in the Rules; and (c) made through a duly authorised firmin the DIFC. This announcement relates to an exempt offer in accordance with the Rules. Thisannouncement is intended for distribution only to persons of a type specified inthose rules. It must not be delivered to, or relied on by, any other person.The DFSA has no responsibility for reviewing or verifying any documents inconnection with Exempt Offers. The DFSA has not approved this announcement ortaken steps to verify the information set out in it, and has no responsibilityfor it. The securities to which this announcement relates may be illiquid and/or subject to restrictions on their resale. Prospective investors in thePlacing Shares should conduct their own due diligence on the Placing Shares.Prospective investors who do not understand the contents of this announcementshould consult an authorised financial adviser. Certain statements made in this announcement are forward looking statements.Such forward looking statements are based on current expectations and numerousassumptions regarding the Company's present and future business strategies andthe environments in which the Company will operate in the future. Suchassumptions may or may not prove to be correct and actual results andperformance could differ materially from any expected further results orperformances, express or implied, by the forward looking statements. Factorsthat might cause forward looking statements to differ materially from actualresults include, among other things, changes in global, political, economic,business, competitive, market and regulatory forces, future exchange andinterest rates and future business combinations or disposals. The Companyexpressly disclaims and assumes no responsibility to update or revise any of theforward looking statements contained in this announcement to reflect any changein the Company's expectations with regard thereto or any change in events,conditions or circumstances on which any such statement is based. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hikma Pharmaceuticals