Portfolio Update

RNS Number : 4226J

Intl. Biotechnology Trust PLC

12 December 2022

 

INTERNATIONAL BIOTECHNOLOGY TRUST PLC

("IBT" or the "Company")

Portfolio Update as at 12 December 2022

The Company notes that Amgen Inc (AMGN) has announced that it entered a definitive agreement to acquire IBT's portfolio company Horizon Therapeutics (HZNP) for $116.50 per share which represents a 47.9% premium to the closing price of Horizon on 29 November 2022 (being the last closing price per Company Share prior to the Company's issuance of an announcement of a possible offer under Rule 2.4 of the Irish Takeover Rules). The bid price in today's announcement represents a premium of 19.7% to the closing price as at 9 December 2022 of $97.29.

Prior to the announcement on 12 December 2022, IBT owned 479,973 shares in Horizon which represents 13.5% of IBT's Net Asset Value, as at the close on Friday 9 December.

For further information contact:

Company Secretary - Link Company Matters

Indu Shastri [phone]

LEI: 213800N1QUJ744P76D11

 

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