NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, IN
OR INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
London, 1 December 2008
PROTHERICS PLC ("PROTHERICS")
Offer Update: Court sanction of Scheme of Arrangement
Protherics (LSE : PTI ) and BTG plc ("BTG") (LSE : BGC ) are pleased to
announce that the High Court of Justice in England and Wales has today
made an order sanctioning the Scheme of Arrangement by which BTG's
Acquisition of Protherics is being implemented.
In order for the Scheme to become effective in accordance with its
terms, the Court will now need to confirm the associated Reduction of
Capital at the Reduction Court Hearing. This hearing will take place on
3 December 2008. Following the confirmation of the Reduction of Capital
by the Court, it is expected that the last day of dealings in
Protherics Shares will be 3 December 2008 and the listing of Protherics
Shares will be cancelled at 8.00 a.m. on 4 December 2008, the
anticipated Effective Date of the Scheme. An expected timetable of
principal events is set out in the Appendix to this announcement.
Terms defined in the Scheme Document shall have the same meaning(s)
when used in this announcement.
Enquiries
Protherics
Dr Andrew Heath, Chief Executive Officer Tel: 020 7246 9950
Rolf Soderstrom, Chief Financial Officer
BTG
Christine Soden, Chief Financial Officer Tel: 020 7575 0000
Andy Burrows, Director of Investor Relations
Jefferies (financial adviser to Protherics)
Ian Crosbie Tel: 020 7029 8000
Chris Snoxall (corporate broking)
Rothschild (financial adviser to BTG)
Dr Lynn Drummond Tel: 020 7280 5000
Nomura Code Securities (broker to Protherics)
Chris Collins Tel: 020 7776 1200
Piper Jaffray (joint broker and adviser to BTG)
Neil Mackison / Jamie Adams Tel: 020 3142 8700
Credit Suisse (joint broker and adviser to BTG)
Stephanie Leouzon / Tristan Lovegrove Tel: 020 7888 8000
Financial Dynamics
Ben Atwell Tel: 020 7831 3113
Jefferies, which is authorised and regulated in the UK by the Financial
Services Authority, is acting as financial adviser and broker to
Protherics in connection with the Acquisition and no-one else and will
not be responsible to anyone other than Protherics for providing the
protections afforded to clients of Jefferies nor for providing advice
in relation to the Acquisition nor any other matter referred to in this
announcement.
Rothschild, which is authorised and regulated in the UK by the
Financial Services Authority, is acting as financial adviser and
sponsor to BTG in connection with the Acquisition and no-one else and
will not be responsible to anyone other than BTG for providing the
protections afforded to clients of Rothschild nor for providing advice
in relation to the Acquisition nor any other matter referred to in this
announcement.
Appendix
Expected Timetable of Principal Events
EVENT TIME and DATE
Reduction Court Hearing (to confirm the Reduction of 3 December 2008
Capital)
Last day of dealings in, and for registration of 5.00 p.m. on 3
transfers of, and disablement in CREST of, Protherics December 2008
shares
Scheme Record Time 6.00 p.m. on 3
December 2008
Effective Date 4 December 2008
Cancellation of listing of Protherics Shares 8.00 a.m. on 4
December 2008
Expected date of Admission of, and dealings in, 8.00 a.m. on 4
New BTG Shares and crediting of New BTG Shares to December 2008
CREST accounts
Latest date for despatch of share certificates in 18 December
respect of New BTG Shares issued under the Scheme 2008
This information is provided by RNS
The company news service from the London Stock Exchange
END
Contact Information: Contacts: RNS Customer Services 0044-207797-4400 http://www.rns.com