AGM Statement

RNS Number : 4898G

Hikma Pharmaceuticals Plc

12 May 2011

 



Hikma Pharmaceuticals PLC - Results of 2011 Annual General Meeting

LONDON, 12 May 2011 - Hikma Pharmaceuticals PLC ("the Company") advises that at its Annual General Meeting of shareholders, held at The Westbury, Bond Street, Mayfair, London W1S 2YF that commenced at 11:00 am today, 12 May 2011, all resolutions were passed on a poll. Resolutions 1 to 7, 11 and 12 were passed as ordinary resolutions and Resolutions 8 to 10 were passed as special resolutions.

Copies of the resolutions dealing with special business passed at the Annual General Meeting have been submitted to the UK Listing Authority for publication through the Listing Authority's Document Viewing Facility. 

The total number of votes cast on the poll for each resolution is set out below. The number of Ordinary Shares in issue on 12 May 2011 was 194,853,607

	Resolution	Votes  For	%	Votes Against	%	Votes Witheld
1	To receive the 2010 report and accounts	109,535,390	99.68%	350,635	0.32%	0
2	To declare a final dividend	109,886,025	100.00%	0	0.00%	0
3	Reappointment of Said Darwazah	109,466,109	99.62%	419,916	0.38%	0
4	Reappointment of Deloitte LLP as auditors	108,091,702	98.37%	1,794,323	1.63%	0
5	Authorise the directors to set the remuneration of the auditors	106,080,607	96.74%	3,575,022	3.26%	230,396
6	To receive and approve the Remuneration Report	107,926,101	99.14%	931,059	0.86%	1,028,865
7	Authorise the directors to allot shares	89,069,983	81.23%	20,585,696	18.77%	230,346
8	Disapply pre-emption rights	109,393,191	99.55%	492,834	0.45%	0
9	Authorise the company to buy back shares	109,828,705	99.95%	56,820	0.05%	500
10	Authorise the company to call meetings on 14 days notice	105,617,616	96.12%	4,268,409	3.88%	0
11	Rule 9 waiver for  buy backs	69,358,967	64.26%	38,579,215	35.74%	1,947,842
12	Rule 9 waiver for LTIP & MIP awards	69,835,487	64.70%	38,102,665	35.30%	1,947,872

Waiver of Rule 9 of the City Code on Takeovers and Mergers

In relation to Resolutions 11 and 12, at today's date, the total number of ordinary shares held by the Concert Party, is 64,567,907 representing a combined shareholding of 33.14 per cent of the issued share capital of the Company.

Assuming the Share Awards are made in respect of the full number of shares referred to in the circular to shareholders dated 6 April 2011, that all such grants vest in full, and that all existing awards LTIP Awards vest in full, and that all Options currently held by members of the Concert Party were to be fully exercised and the resulting Ordinary Shares retained by the Concert Party members, the Concert Party would hold, in aggregate, interests over 65,238,707 Ordinary Shares, representing 33.37 per cent of the issued share capital of the Company (as enlarged by the existing LTIP and MIP Awards and Option Exercises by members of the Concert Party and the issue of Ordinary Shares to members of the Concert Party pursuant to the Share Awards, but assuming no other issue of shares) versus 33.30 per cent of the issued share capital of the Company on a similar basis, prior to the grant of such Share Awards.

Were the Company to exercise the buy-back authority to the exclusion of the Concert Party such that the Concert Party maintained its current shareholding, that would result in the Concert Party's percentage interest in the Company's issued share capital increasing to 36.96 per cent. (assuming that all Existing LTIP Awards vest in full and all Options held by members of the Concert Party are exercised and the resulting Ordinary Shares are retained, but not including the Share Awards granted under Resolution 12).

If the maximum repurchase of Ordinary Shares authorised was carried out by the Company and also the maximum number of Share Awards vested, together with the Existing LTIP Awards and Option Exercises these changes would increase the aggregate shareholding of the Concert Party in the Company to 37.03 per cent. (assuming that that the Concert Party did not sell any Ordinary Shares in the repurchase of Ordinary Shares and assuming no other issue of Ordinary Shares).

Declaration of final dividend

The final dividend of 7.5 cents per share will be paid on 26 May 2011 to shareholders on the register on 15 April 2011.  Shareholders who are not resident in Jordan have been given the option of receiving their dividend in Pounds Sterling.  The exchange rate in respect of this dividend will be announced separately.

- ENDS -

Enquiries:

Hikma Pharmaceuticals PLC
Henry Knowles Company Secretary	[phone]
Susan Ringdal Investor Relations Director	[phone]

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed pharmaceutical products.  Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics".  Hikma's operations are based principally in the Middle East and North Africa ("MENA") region, where it is a market leader and sells across 17 countries, the United States and Europe.  In 2010, the Group achieved revenues of $731 million (2009 $637 million) and profit attributable to shareholders was $99 million (2009 $78 million). 

 

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