PRESS RELEASE
Hikma completes mandatory tender offer, raising its stake in Promopharm to 94.1%
London, 17 January 2012 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) ("Hikma"), the fast growing multinational pharmaceutical group, today announces that it has increased its stake in Société de Promotion Pharmaceutique du Maghreb S.A. (Casablanca: PRO) ("Promopharm") from 63.9% to 94.1%. Hikma acquired the additional 302,196 shares (representing 30.2% of Promopharm) for an aggregate consideration of $41.6 million (MAD 349.0 million). These shares were purchased in the open market and through a mandatory tender offer, which closed on 6 January 2012.
The remaining 5.9% of Promopharm's issued share capital has been retained by existing shareholders and Promopharm will remain listed on the Casablanca Stock Exchange.
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Enquiries
Hikma Pharmaceuticals PLC
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760/07776 477 050
FTI Consulting +44 (0)20 7831 3113
Ben Atwell /Julia Phillips/Jonathan Birt/Matthew Cole
Acquisition of Promopharm
On 3 October 2011, Hikma announced that it had acquired 63.9% of Promopharm from a consortium of shareholders comprising existing management, institutions and related parties for an aggregate consideration of $111.2 million (MAD 912.8 million).
About Hikma
Hikma Pharmaceuticals PLC is a fast growing multinational pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma's operations are conducted through three businesses: "Branded", "Injectables" and "Generics" based principally in the Middle East and North Africa ("MENA") region, where it is a market leader, the United States and Europe. In 2010, Hikma achieved revenues of $731 million and profit attributable to shareholders of $99 million.
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