Business
Disposal Update
Disposal Update.
About this update from Aura Renewable Acquisitions Plc
[{"type":"text","content":"\n Ardana PLC\n27 March 2008\n\n\n Ardana plc\n\n\n UPDATE ON THE PROPOSED SALE OR MERGER OF THE COMPANY\n\n\nEdinburgh, UK, 27 March 2008 - Ardana plc ('Ardana' or the 'Company') (LSE:ARA)\nthe pharmaceutical company specialising in improving human reproductive health,\ntoday provides an update to shareholders on developments in relation to the\nproposed sale or merger of the Company (the 'Process'), as announced on 19\nFebruary 2008.\n\n\nSince the announcement, the Company has held discussions with a significant\nnumber of interested parties. Even at this early stage, the Company can confirm\nthat it has received a number of approaches which may or may not lead to an\noffer for the Company. It is the Board's intention to ensure that all interested\nparties are brought rapidly to the same point in the Process, such that the\nBoard will be in a position to compare all potential offers equitably.\n\n\nIn addition, the Process has generated significant interest in potential\nlicensing opportunities for one or more of the Company's products. The Board is\nprogressing these licensing discussions in parallel with the Process, to ensure\nthat the Company is in a position to maximise shareholder value at the\nappropriate time. However, the Board will only pursue a licensing transaction if\nit does not negatively affect the value of the Company in the view of potential\nacquirers.\n\n\nGiven the level of interest in the Company and its products generated by the\nProcess to date, the Board sees no reason for the significant fall in share\nprice since the announcement on 19 February 2008.\n\n\nA further update will be provided to shareholders in due course.\n\n\nFor more information contact:\n\n\nArdana plc Financial Dynamics\n\nDr. Huw Jones - Chief Executive Officer Julia Phillips\n\nGraham Lee - Chief Financial Officer Emma Thompson\n\nTel: + 44 (0) 131 226 8550 Tel: +44 (0)20 7831 3113\n\n\nPiper Jaffray Ltd.\n\nNeil Mackison\n\nJames Steel\n\nTel: +44 (0)20 3142 8700\n\n\nFor further information please see www.ardana.co.uk\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2313,"tagName":"div"}]