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Adcock - offer by Natco Pharma and delisting
Holders of Adcock Ingram ordinary shares ("Adcock Ingram Shareholders") were hereby advised that the Company has concluded an implementation agreement with Natco Pharma (the "Implementation Agreement") regarding the terms and conditions of an offer from Natco Pharma to acquire all of the issued ordinary shares in Adcock Ingram ("Ordinary Shares"), other than those already held by Natco Pharma, currently owned by The Bidvest Group Ltd. ("Bidvest") and treasury shares of Adcock Ingram (collectively, the "Excluded Shares") ("Offer").
In the event that the Offer is implemented, it would result in the delisting of all the Ordinary Shares from the Main Board of the securities exchange operated by the JSE, and on a fully- diluted basis, Bidvest will remain the controlling shareholder (owning approximately 64.25% of the Ordinary Shares) and Natco Pharma becoming a co-shareholder (and owning approximately 35.75% of the Ordinary Shares) in the delisted Adcock Ingram.
Withdrawal of cautionary announcement
Pursuant to the release of this announcement, Adcock Ingram Shareholders were advised that caution is no longer required to be exercised when dealing in their Ordinary Shares.
Documentation
The Scheme Circular, which is to be issued jointly by Adcock Ingram and Natco Pharma detailing the Offer and containing full terms and conditions of the Scheme and including the notice to convene the General Meeting to consider, and if appropriate, approve the Scheme Resolution, is in the process of being prepared.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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