Tender Offer

RNS Number : 2795Q

Hikma Pharmaceuticals Plc

17 October 2011

 

PRESS RELEASE                                                                     

Update on tender offer for remaining 36.1% of Promopharm

London, 17 October 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational pharmaceutical group, today announces that Morocco's Conseil Déontologique des Valeurs Mobilières ("CDVM") has published the details of the offer price of MAD 1,155 per share that Hikma plans to make for its mandatory tender offer for the remaining 36.1%, or 361,015 shares, of Société de Promotion Pharmaceutique du Maghreb S.A. (Casablanca: PRO) ("Promopharm").  Hikma expects to launch the mandatory tender offer before the end of the year.

On 3 October 2011, Hikma announced the acquisition of 63.9% of Promopharm from a consortium of shareholders for an aggregate consideration of $111.2 million (MAD 912.8 million).

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Enquiries

Hikma Pharmaceuticals PLC

Susan Ringdal, Investor Relations Director                          [phone]/07776 477 050

FTI Consulting                                                                                   [phone]

Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole

About Hikma

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

Forward looking statements

Certain statements in this announcement are forward-looking statements - using words such as "intends", "believes", anticipates" and "expects".  Where included, these have been made by the Directors in good faith based on the information available to them up to the time of their approval of this announcement.  By their nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements, and should be treated with caution.  These risks, uncertainties or assumptions could adversely affect the outcome and financial effects of the plans and events described in this announcement.  Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future.  You should not place undue reliance on forward-looking statements, which speak as only of the date of the approval of this announcement.

Except as required by law, the Company is under no obligation to update or keep current the forward-looking statements contained in this announcement or to correct any inaccuracies which may become apparent in such forward-looking statements.

 

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