GlaxoSmithKline PLC GSK intends to sell remaining holding in Aspen (1269L)
September 28 2016 - 11:20AM
UK Regulatory
TIDMGSK
RNS Number : 1269L
GlaxoSmithKline PLC
28 September 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, THE HONG KONG SPECIAL
ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, JAPAN OR
THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Issued: Wednesday 28 September 2016, London UK - LSE
Announcement
GlaxoSmithKline announces intention to sell remaining holding in
Aspen
GlaxoSmithKline announces that it intends to sell its remaining
stake in Aspen Pharmacare Holdings Ltd ("Aspen"). The disposal will
be through a placing of ordinary shares in Aspen to institutional
investors (the "Offering").
The Offering is expected to comprise up to 28.2 million Aspen
ordinary shares equivalent to 6.2% of Aspen's ordinary share
capital. The offer price will be determined by means of an
accelerated bookbuild offering process which is to start
immediately.
A further announcement will be made following completion of the
bookbuild and pricing of the Offering.
GlaxoSmithKline has been an Aspen shareholder for 7 years.
During this time Aspen's share price has risen approximately six
fold from c.ZAR50 in May 2009 to ZAR317 today. GlaxoSmithKline and
Aspen have also undertaken a number of successful commercial
transactions over this period including recently the sale to Aspen
of GlaxoSmithKline's anaesthetic products which was announced
earlier this month (and remains subject to regulatory
approval).
GlaxoSmithKline has entered into a placing agreement with
Citigroup Global Markets Limited and UBS Limited to act as Joint
Bookrunners in relation to the Offering.
Proceeds from the transaction will be used for general corporate
purposes. The net profit on disposal will not be included in core
operating profit and core EPS in 2016.
GSK - one of the world's leading research-based pharmaceutical
and healthcare companies - is committed to improving the quality of
human life by enabling people to do more, feel better and live
longer. For further information please visit www.gsk.com.
GSK enquiries:
UK Media enquiries: David Mawdsley +44 (0) 20 (London)
8047 5502
Simon Steel +44 (0) 20 (London)
8047 5502
Analyst/Investor Ziba Shamsi +44 (0) 20 (London)
enquiries: 8047 5543
Gary Davies +44 (0) 20 (London)
8047 5503
James Dodwell +44 (0) 20 (London)
8047 2406
Cautionary statement regarding forward-looking
statements
GSK cautions investors that any forward-looking
statements or projections made by GSK, including
those made in this announcement, are subject
to risks and uncertainties that may cause actual
results to differ materially from those projected.
Such factors include, but are not limited to,
those described under Item 3.D 'Risk factors'
in the company's Annual Report on Form 20-F for
2015.
This announcement does not constitute a prospectus or an offer
or invitation to purchase securities.
This announcement is only addressed to, and directed at, persons
in member states of the European Economic Area ("EEA") who are
"qualified investors" within the meaning of Article 2(1)(e) of the
Prospectus Directive (Directive 2003/71/EC) as amended by the 2010
PD Amending Directive (Directive 2010/73/EU), as and to the extent
implemented in the relevant EEA member state, and any relevant
implementing measure in the relevant member state.
In addition, in the United Kingdom, this announcement is not
being distributed, nor has it been approved for the purposes of
Section 21 of the Financial Services and Markets Act 2000 ("FSMA"),
by a person authorised under FSMA and is directed only at persons
(i) who are persons having professional experience in matters
relating to investments who fall within the definition of
"investment professionals" in Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as
amended (the "Order"), or (ii) persons who are high net worth
entities falling within Article 49(2)(a) to (d) of the Order, or
(iii) other persons to whom it may lawfully be communicated
("relevant persons"). Under no circumstances should persons who are
not relevant persons rely or act upon the contents of this
announcement. Any investment or investment activity to which this
announcement relates in the United Kingdom is available only to,
and will be engaged only with, relevant persons.
This announcement is not an offer for sale of securities in the
United States. Securities may not be offered or sold in the United
States absent registration with the United States Securities and
Exchange Commission or an exemption from registration under the
U.S. Securities Act of 1933, as amended. GSK does not intend to
register any part of the offering in the United States or to
conduct a public offering in the United States of the shares to
which this announcement relates.
The Offering and the distribution of this announcement do not,
nor are they intended to, constitute an offer for the sale of or
subscription for, or the solicitation of an offer to buy and
subscribe for, shares to the public as defined in the South African
Companies Act, No 71 of 2008 (as amended or otherwise) (the "South
African Act") and will not be distributed to any person in South
Africa in any manner which could be construed as an offer to the
public in terms of the South African Act. The Offering and the
distribution of this announcement do not, nor are they intended to,
constitute a prospectus prepared and registered under the South
African Act.
The Offering and the distribution of this announcement and other
information in connection with the Offering in certain
jurisdictions may be restricted by law. No action has been taken
that would permit the Offering or distribution of this announcement
in any jurisdiction where action for such purpose is required.
Persons into whose possession any document or other information
referred to herein comes should inform themselves about and observe
any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction.
Citigroup Global Markets Limited and UBS Limited, which are
authorised and regulated by the Financial Conduct Authority, are
acting for GSK and for no one else in connection with the Offering
and will not be responsible to anyone other than GSK for providing
the protections afforded to their customers or for affording advice
in relation to the Offering, the contents of this announcement or
any transaction, arrangement or other matter referred to in this
announcement. Citigroup Global Markets Limited and UBS Limited may
participate in the Offering on a proprietary basis.
This announcement does not represent the announcement of a
definitive agreement to proceed with the Offering and, accordingly,
there can be no certainty that the Offering will proceed. GSK
reserves the right not to proceed with the Offering or to vary the
terms of the Offering in any way.
Registered in England & Wales:
No. 3888792
Registered Office:
980 Great West Road
Brentford, Middlesex
TW8 9GS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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