NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS PUBLICATION IS NEITHER AN OFFER TO BUY OR SELL NOR AN INVITATION TO TENDER OR OFFER TO BUY OR SELL SHARES.

Recipharm Holdings Limited ("Recipharm"), a wholly owned subsidiary of Recipharm AB, is pleased to announce that it now owns or has received valid acceptances in respect of a total of 37,906,222 Consort Medical plc ("Consort") Shares representing approximately 75.9 per cent. of the existing issued share capital of Consort.

As set out in paragraph 14 of Part 2 of the offer document posted on 6 December 2019 (the "Offer Document"), Consort will apply to the UK Listing Authority and the London Stock Exchange requesting the cancellation of the listing of Consort Shares on the premium listing segment of the Official List and of the trading in Consort Shares on the London Stock Exchange's Main Market for listed securities.

Pursuant to Listing Rule 5.2.11, Consort announces that the cancellation notice period has now commenced and cancellation is expected to take effect from 8.00 a.m. (London time) on 6 March 2020[(1)].

As set out in the Offer Document, it is proposed that, following the Consort Shares being de-listed, Consort will be re-registered as a private company under the relevant provisions of the Companies Act.

Such cancellation and re-registration will significantly reduce the liquidity and marketability of any Consort Shares not assented to the Offer and their value may be affected as a consequence. Any remaining Consort Shareholders will become minority shareholders in a privately controlled limited company and may be unable to sell their Consort Shares and there can be no certainty that any dividends or other distributions would be made by Consort or that the Consort Shareholders would again be offered as much for the Consort Shares held by them as under the Offer. The Offer will remain open for acceptances until 1.00 p.m. (London time) on 18 February 2020. Consort Shareholders who have not yet accepted the Offer are urged to do so as soon as possible and should follow the procedures for acceptance of the Offer set out in the Offer Document.

Unless otherwise stated, the terms used in this announcement have the same meanings as given to them in the Offer Document.

[(1)] 20 Business Days after the date of this announcement.

[ ]

For more information please visit www.recipharm.com or contact:
Tobias Hägglöv, CFO

This information is information that Recipharm AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 18:00 CET on 6 February, 2020.

 

About Recipharm
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing almost 7,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, and pharmaceutical product development. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. Recipharm's turnover is approximately SEK 7.2 billion. The company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden. The Recipharm B-share (RECI B) is listed on Nasdaq Stockholm.

For more information on Recipharm and our services, please visit www.recipharm.com

IMPORTANT INFORMATION

This publication is neither an offer to buy or sell nor an invitation to tender or offer to buy or sell shares.

The Offer will be implemented solely by means of the Offer Document and, in respect of Consort Shares held in certificated form, the Form of Acceptance accompanying the Offer Document, which will contain the full terms and conditions of the Offer including details of how to accept the Offer. Any approval, acceptance, decision or other response to the Offer should be made only on the basis of the information in the Offer Document and, in respect of Consort Shares held in certificated form, the Form of Acceptance. Consort Shareholders are strongly advised to read the formal documentation in relation to the Offer and each Consort Shareholder is urged to consult its independent professional adviser immediately regarding the tax consequences to it (or its beneficial owners) of the Offer.

This press release is not being published in or distributed to or into and must not be mailed or otherwise distributed or sent in or into any country in which the distribution or offering would require any such additional measures to be taken or would be in conflict with any law or regulation in such country. Persons who receive this press release (including, without limitation, nominees, trustees and custodians) and are subject to the law of any such jurisdiction will need to inform themselves about, and observe, any applicable restrictions or requirements. Any failure to do so may constitute a violation of the securities laws of any such jurisdiction.

To the extent this press release contains forward-looking statements, such statements do not represent facts and are characterized by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of Recipharm. Such forward-looking statements are based on current plans, estimates and forecasts which Recipharm has made to the best of its knowledge, but which do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by Recipharm. It should be kept in mind that the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.

Publication on a website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on Recipharm's website at www.recipharm.com/investor-relations promptly and in any event by no later than 12 noon (London time) on the business day following this announcement. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

Recipharm AB (publ)
Corporate identity number 556498-8425
Address Box 603, SE-101 32 Stockholm, Sweden, Telephone +46 8 602 52 00
www.recipharm.com

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