TIDMNUT
RNS Number : 3445W
Elder Pharmaceuticals Ltd
27 July 2009
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27 July 2009
Statement by Elder Pharmaceuticals Limited ("Elder")
regarding Neutrahealth plc ("Neutrahealth")
On 26 March 2009, Elder announced that it was still considering its options with
regard to its investment in Neutrahealth, which may or may not involve an offer
for Neutrahealth. Elder has reviewed its options and confirms that it has no
intention of making an offer for Neutrahealth at this time.
Under Rule 2.8 of the City Code on Takeovers and Mergers, and except with
the consent of the Panel, the statement in the preceding paragraph will prevent
Elder or anyone acting in concert with it from announcing an offer or possible
offer for Neutrahealth or taking certain other action within the next six months
unless there has occurred an event which is specified as enabling the statement
to be set aside. Accordingly, for the purposes of Rule 2.8 of the City Code,
Elder reserves the right (on behalf of itself and anyone acting in concert with
it) to announce an offer or possible offer for Neutrahealth and/or to take any
other action which would otherwise be restricted under Rule 2.8 of the City Code
within the next six months in the event that:
(i) the agreement or recommendation of the Board of Neutrahealth is forthcoming;
(ii) a third party announces an offer or possible offer for Neutrahealth;
(iii) Neutrahealth announces a 'whitewash proposal' or a 'reverse takeover'
(each as defined in the Takeover Code); or
(iv) there is a material change in circumstances.
Enquiries:
Jagdish Saxena (Managing Director)
Elder Pharmaceuticals Limited
00 91 22 2673 0058
David McCorquodale
KPMG Corporate Finance
020 7311 1000
This information is provided by RNS
The company news service from the London Stock Exchange
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