Business
Issue of Equity
Issue of Equity.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n Hikma Pharmaceuticals Plc\n17 January 2008\n\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO\n THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE UNITED ARAB EMIRATES\n\nHikma Pharmaceuticals PLC\n17 January 2008\n\n\n\n HIKMA PHARMACEUTICALS PLC\n\n PLACING OF UP TO 17 MILLION NEW ORDINARY SHARES\n\n\nDetails of the Placing\n\n\nHikma Pharmaceuticals PLC ('Hikma' or the 'Company') intends to place up to 17\nmillion new Ordinary Shares, representing up to 9.9 per cent of Hikma's issued\nordinary share capital immediately prior to the Placing, with institutional and\nother investors (the 'Placing Shares').\n\n\nThe Placing is being conducted, subject to the satisfaction of certain\nconditions, through an accelerated book-building process to be carried out by\nMerrill Lynch International ('Merrill Lynch') and Citigroup Global Markets U.K.\nEquity Limited ('Citi'). The books will open with immediate effect. The timing\nof the closing of the books, pricing and allocations are at the discretion of\nHikma, Merrill Lynch and Citi. The number of Placing Shares and the price at\nwhich the Placing Shares are to be placed (the 'Placing Price') will be agreed\nby Hikma with Merrill Lynch and Citi at the close of the book-building process.\nDetails of the number of Placing Shares and the Placing Price will be announced\nas soon as practicable after the close of the book-building process.\n\n\nAs part of the Placing, Darhold Limited, which as at 16 January 2008 held\n52,649,972 Ordinary Shares (representing approximately 30.8 per cent. of Hikma's\nissued ordinary share capital) and whose shareholders include Samih Darwazah\n(Non Executive Chairman of Hikma), Said Darwazah (CEO of Hikma) and Mazen\nDarwazah (Executive Vice Chairman of Hikma), has agreed to acquire and be\nallotted approximately 30.8 per cent of the Placing Shares (being up to\napproximately 5.23 million Placing Shares) at the Placing Price. In addition,\nSamih Darwazah, Said Darwazah, Mazen Darwazah and certain relatives, who\ntogether held as at 16 January 2008 2.97 million Ordinary Shares (representing\napproximately 1.7 per cent. of Hikma's issued ordinary share capital) intend to\nacquire approximately 1.7 per cent of the Placing Shares (being up to 295,223\nPlacing Shares) at the Placing Price pursuant to the Placing. Accordingly, ...