Business
Result of Equity Issue
Result of Equity Issue.
About this update from Hikma Pharmaceuticals Plc
[{"type":"text","content":"\n Hikma Pharmaceuticals Plc\n17 January 2008\n\n\n\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO \nTHE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE UNITED ARAB EMIRATES\n\n\n\nHikma Pharmaceuticals PLC\n\n17 January 2008\n\n\n\n\n\nHIKMA PHARMACEUTICALS PLC\n\nRESULT OF PLACING OF NEW ORDINARY SHARES\n\nPLACING PRICE SET AT 480 PENCE PER NEW ORDINARY SHARE\n\n\nHikma Pharmaceuticals PLC ('Hikma') announces that, further to the announcement on 17 January 2008 (the 'Announcement'),\na total of 17 million new ordinary shares of 10 pence each in Hikma (the 'Placing Shares') have been placed by Merrill \nLynch International ('Merrill Lynch') and Citigroup Global Markets U.K. Equity Limited ('Citi') at a price of 480 pence \nper Placing Share, raising gross proceeds of approximately £81.6 million (the 'Placing'). As part of the Placing 5.23 \nmillion Placing Shares have been placed with Darhold Limited at the Placing Price and 332,663 Placing Shares have been \nplaced with the Darwazah family and other connected individuals at the Placing Price. The Placing Shares being issued \nrepresent 9.9 per cent of Hikma's issued ordinary share capital prior to the Placing.\n\nThe Placing will enable the Hikma group to reduce borrowings incurred in connection with its JD116.0 million ($163.6 \nmillion) acquisition of Arab Pharmaceutical Manufacturing Company, announced on 10 December 2007, thereby providing \nHikma with increased flexibility to finance future growth.\n\nApplication will be made for, and the Placing is conditional upon, inter alia, admission of the Placing Shares to the \nOfficial List of the Financial Services Authority and admission to trading of the Placing Shares by London Stock \nExchange plc on its main market for listed securities (together, 'Admission'). It is expected that Admission will \nbecome effective and that dealings will commence in the Placing Shares at 8:00am on 22 January 2008. Subject to the \nconditions being satisfied, the Placing Shares will be issued credited as fully paid and will rank pari passu in all \nrespects with Hikma's existing ordinary shares.\n\n\n\nEnquiries\n\n\nHikma Pharmaceuticals PLC\n\nSusan Ringdal Direct Line: +44 20 7399 2760\nInvestor Relations Director Mobile: +44 7776 477 050\n\nMerrill Lynch International\n\nLorcan O'Shea +44 20 7996 594...