PTI Protherics

    RNS Number : 4613J
  Protherics PLC
  03 December 2008
   


    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, 3 December 2008

    PROTHERICS PLC ("PROTHERICS")

    Offer Update: Court confirmation of Reduction of Capital

    Further to the announcement dated 1 December 2008, Protherics (LSE: PTI) and BTG plc ("BTG") (LSE: BCG) are pleased to announce that the
High Court of Justice in England and Wales has today made an order confirming the reduction of Protherics' share capital in connection with
the Scheme of Arrangement by which BTG's Acquisition of Protherics is being implemented. This follows the Court's sanction of the Scheme at
a hearing held on 1 December 2008. 

    The Scheme will become effective upon the Court Orders being delivered to the Registrar of Companies (and, in relation to the Reduction
Court Order, the registration of such order by the Registrar of Companies) which is expected to take place on 4 December 2008.  

    The listing of Protherics Shares is expected to 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 OfficerRolf               Tel: 020 7246 9950
 Soderstrom, Chief Financial Officer 
                                                                              
 BTG                                                                          
 Christine Soden, Chief Financial OfficerAndy Burrows,      Tel: 020 7575 0000
 Director of Investor Relations 
                                                                              
 Jefferies (financial adviser to Protherics)                                  
 Ian CrosbieChris Snoxall (corporate broking)              Tel: 020 7029 8000 
                                                                              
 Rothschild (financial adviser to BTG)                                        
 Dr Lynn Drummond                                          Tel: 020 7280 5000 
                                                                              
 Nomura Code Securities (broker to Protherics)Chris        Tel: 020 7776 1200 
 Collins 
                                                                              
 Piper Jaffray (joint broker and adviser to BTG)Neil        Tel: 020 3142 8700
 Mackison / Jamie Adams 
                                                                              
 Credit Suisse (joint broker and adviser to BTG)                              
 Stephanie Leouzon / Tristan Lovegrove                      Tel: 020 7888 8000
                                                                              
 Financial DynamicsBen 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
                                                   
  
 Last day of dealings in, and time for            5.00 p.m. on 3
 registration of transfers of, and disablement    December 2008
 in CREST of, Protherics 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   December 2008
 to CREST accounts

 Latest date for despatch of share certificates   18 December 2008
 in respect of New BTG Shares issued under the
 Scheme


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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