Update Re Novocellus' Partner ORIGIO A/S (8522E)
June 07 2012 - 02:00AM
UK Regulatory
TIDMAGL
RNS Number : 8522E
Angle PLC
07 June 2012
For immediate release 7 June 2012
ANGLE plc
("ANGLE" or "the Company")
UPDATE RE NOVOCELLUS' PARTNER ORIGIO A/S ("ORIGIO")
ANGLE plc (AIM: AGL), the technology commercialisation company,
notes that Novocellus' partner, ORIGIO, has received an offer from
Cooper Companies, Inc ("Cooper").
ANGLE notes that ORIGIO's board of directors has recommended the
offer, under which Cooper has made a cash offer to buy all the
shares of ORIGIO, at a total purchase price of approximately US$189
million including debt. ORIGIO's board members and executive
management team along with certain shareholders, together holding
approximately 46% of ORIGIO's issued share capital, are supporting
the offer and have signed irrevocable undertakings to tender their
shares.
The offer for ORIGIO's shares represents a premium of 73%
compared with the closing price on 1 June 2012, the last trading
day prior to the public announcement of the decision to make the
offer.
The combined business will, according to Cooper's investor
presentation, be ranked number one in the IVF market with a 39%
market share.
In its announcement of the offer, ORIGIO stated:
"Cooper and ORIGIO share the vision of delivering life-changing
products to the global markets. Cooper therefore wishes to ensure
that ORIGIO maintains and develops its leading market position.
Consequently, if the offer is completed, ORIGIO will - besides
continuing under the same executive management team and name -
remain headquartered in Denmark, and continue its business as an
indirect wholly-owned subsidiary of Cooper.
"The new ownership is expected to open up new growth
opportunities for ORIGIO, thereby supporting recent years' strong
development of ORIGIO."
ANGLE's Founder and Chief Executive, Andrew Newland,
commented:
"It is pleasing to note that a business as substantial as Cooper
has recognised the opportunities in the IVF sector, where
innovations such as the Novocellus EmbryoSure(R) IVF embryo
viability product have the potential to transform the market. We
look forward to continuing our relationship with ORIGIO under new
or existing ownership."
For further information:
ANGLE plc 01483 685830
Andrew Newland, Chief Executive
Ian Griffiths, Finance Director
Cenkos Securities
Stephen Keys, Adrian Hargrave (Nominated
adviser)
Andy Roberts (Sales) 020 7397 8900
Buchanan
Mark Court, Sophie Cowles 020 7466 5000
Scott Harris
Stephen Scott, Harry Dee 0207 653 0030
About ORIGIO a/s
ORIGIO a/s is a world leader in Assisted Reproductive Technology
(ART) solutions. Through research and innovation, ORIGIO aims to
provide the best products to ART professionals to help the #1 dream
of every infertile couple come true. ORIGIO currently comprises the
five product families, MediCult Media, Humagen Pipets, MidAtlantic
Devices, ORIGIO ScanLab Equipment and Artworks Solutions that cater
for the broadest range of ART requirements. The medtech company
ORIGIO, which is headquartered in Malov, Denmark, and has
subsidiaries in 12 countries, is listed on the Oslo Stock Exchange
under the symbol, ORO. For further information, please visit
www.origio.com.
About Cooper Companies, Inc.
The Cooper Companies, Inc. is a global medical device company
publicly traded on the NYSE Euronext (NYSE:COO). Cooper is
dedicated to being A Quality of Life Company(TM) with a focus on
delivering shareholder value. Cooper operates through two business
units, CooperVision and CooperSurgical.
CooperVision brings a refreshing perspective on vision care with
a commitment to crafting a wide range of high-quality products for
contact lens wearers and providing focused practitioner support.
CooperSurgical focuses on supplying women's health clinicians with
market leading products and treatment options to improve the
delivery of healthcare to women.
Headquartered in Pleasanton, CA, Cooper has over 7,000 employees
with products sold in over 100 countries. For more information,
please visit www.coopercos.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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