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<p align="center"><b>PLIVA ACQUIRES AN ADDITIONAL STAKE IN LACHEMA, A.S.</b></p> |
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<p>Zagreb, 27 April 2000 </p> |
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<p>PLIVA announced today that it has signed an agreement with an institutional |
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investor for the purchase of 26.08% of the total share capital of Lachema, the |
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Czech pharmaceutical company, for cash consideration of USD 4,945,308.49. Concurrently, |
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PLIVA signed an agreement providing PLIVA with a discretionary thirty three-day |
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option to acquire an additional 1.61% of the total share capital of Lachema |
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for additional cash consideration of USD 304,601.51. </p> |
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<p>The purchase will be carried out through PLIVA's Polish subsidiary, PLIVA Krakow. |
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As a result of the acquisition, PLIVA Krakow will hold more than 75% of the |
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total share capital of Lachema and, pursuant to the mandatory rules of the Czech |
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Companies Act, PLIVA Krakow will make a mandatory public offer to the rest of |
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Lachema's shareholders to acquire their shares. </p> |
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<p>This transaction follows the purchase of 66.67% of the total share capital |
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of Lachema announced on 12 November 1999 and completed on 2 December 1999, as |
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well as the subsequent mandatory public offer to Lachema's shareholders completed |
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on 23 February 2000, which resulted in the acquisition of a further 0.08% of |
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Lachema's share capital. </p> |
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<p>Lachema, with its registered office in Brno, is one of the Czech Republic's |
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leading pharmaceutical companies. It develops, manufactures and markets pharmaceuticals, |
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as well as diagnostic preparations and fine chemicals. In 1999, Lachema recorded |
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revenues of USD 30.5 million with net assets of USD 29.8 million. </p> |
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<p>Following this acquisition, and without giving effect to either PLIVA's share |
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purchase option or the results of the pending mandatory public offer, PLIVA |
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Krakow will hold 92.83% of the total share capital of Lachema at a total cost |
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of USD 31.5 million.</p> |
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<p> For additional information please contact: </p> |
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<p>Erika Kaspar<br> |
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Vice President, Communications and Corporate Affairs<br> |
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Tel: 385 1 6120 755<br> |
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Fax: 385 1 6114 413 <br> |
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E-mail: <a href="mailto:erika.kaspar@pliva.hr">Erika.Kaspar@pliva.hr</a></p> |
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<p> Marija Mandic <br> |
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Financial Analyst<br> |
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Tel: 385 1 6160 355<br> |
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Fax: 385 1 6120 634<br> |
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E-mail: <a href="marija.mandic@pliva.hr">Marija.Mandic@pliva.hr </a></p> |
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