Result of AGM

RNS Number : 2983S

Hikma Pharmaceuticals Plc

14 May 2009

 



Hikma Pharmaceuticals PLC - Results of Annual General Meeting

LONDON, 14 May 2009 - Hikma Pharmaceuticals PLC ('the Company') advises that at its Annual General Meeting of shareholders, held at 88 Wood Street, London, EC2V 7RS that commenced at 11.00am today, 14 May 2009, all resolutions were passed on a poll. Resolutions 1 to 12, 16 and 17 were passed as ordinary resolutions and Resolutions 13 to 15 were passed as special resolutions. 

Copies of the resolutions dealing with special business passed at the Annual General Meeting have been submitted to the UK Listing Authority for publication through the Listing Authority's Document Viewing Facility.  

The total number of votes cast on the poll for each resolution is set out below. The number of Ordinary Shares in issue on 14 May 2008 was 189,980,407.

	Resolution	Votes  For	%	Votes Against	%	Votes Witheld
1	To receive the 2008 report and accounts	125,613,016	99.69	388,385	0.31	77,668
2	To declare a final dividend	126,079,069	100	-	-	-
3	Reappointment of Mr Samih Darwazah	108,003,466	98.92	1,177,853	1.08	16,897,750
4	Reappointment of Mr Mazen Darwazah	125,351,769	99.78	274,146	0.22	453,154
5	Reappointment of Mr Breffni Byrne	126,026,792	99.96	52,177	0.04	100
6	Reappointment of Sir David Rowe-Ham	126,026,969	99.96	52,177	0.04	100
7	Reappointment of Mr Michael Ashton	126,026,792	99.96	52,177	0.04	100
8	Reappointment of Mr Ali Al-Husry	119,404,189	95.00	6,280,755	5.0	394,125
9	Reappointment of Deloitte and Touche as auditors	125,669,284	99.88	152,300	0.12	257,485
10	Authorise the directors to set the remuneration of the auditors	126,057,619	99.98	21,300	0.02	150
11	To receive and approve the Remuneration Report	125,688,604	99.89	133,080	0.11	257,385
12	Authorise the directors to allot shares	107,308,832	85.63	18,001,724	14.37	758,090
13	Disapply pre-emption rights	125,972,323	99.92	106,646	0.08	100
14	Authorise the company to buy back shares	125,988,259	99.94	69,710	0.06	21,100
15	Authorise the company to call meetings on 14 days notice	124,169,964	98.48	1,909,005	1.52	100
16	Rule 9 waiver for buy backs	46,386,992	65.72	24,196,310	34.28	55,495,767
17	Rule 9 waiver for LTIP awards	46,387,492	65.72	24,195,810	34.28	55,495,767

Waiver of Rule 9 of the City Code on Takeovers and Mergers

In relation to Resolutions 16 and 17, at today's date, the total number of ordinary shares held by the Concert Party, is 66,257,758 representing a combined shareholding of 34.87% of the issued share capital of the Company.

Assuming the Share Awards are made in respect of the full number of shares referred to in the circular to shareholders dated 9 April 2009, that all such grants vest in full, and that all existing awards LTIP Awards vest in full, and that all Options currently held by members of the Concert Party were to be fully exercised and the resulting Ordinary Shares retained by the Concert Party members, the Concert Party would hold, in aggregate, interests over 67,276,258 Ordinary Shares, representing 35.19% of the issued share capital of the Company (as enlarged by the existing LTIP Awards and Option Exercises by members of the Concert Party and the issue of Ordinary Shares to members of the Concert Party pursuant to the Share Awards, but assuming no other issue of shares) versus 35.12%.of the issued share capital of the Company on a similar basis, prior to the grant of such Share Awards.

Were the Company to exercise the buy-back authority to the exclusion of the Concert Party such that the Concert Party maintained its current shareholding, that would result in the Concert Party's percentage interest in the Company's issued share capital increasing to 39.08 per cent. (assuming that all Existing LTIP Awards vest in full and all Options held by members of the Concert Party are exercised and the resulting Ordinary Shares are retained, but not including the Share Awards granted under Resolution 17).

If the maximum repurchase of Ordinary Shares authorised was carried out by the Company and also the maximum number of Share Awards vested, together with the Existing LTIP Awards and Option Exercises these changes would increase the aggregate shareholding of the Concert Party in the Company to 39.15 per cent. (assuming that that the Concert Party did not sell any Ordinary Shares in the repurchase of Ordinary Shares and assuming no other issue of Ordinary Shares).

Declaration of final dividend

The final dividend of 4.0 cents per share will be paid on 2 June 2009 to shareholders on the register on 1 May 2009. Shareholders who are not resident in Jordan have been given the option of receiving their dividend in Pounds Sterling. The exchange rate in respect of this dividend is 1.5154 US dollars to one Pound Sterling, equal to approximately 2.6 pence per share. Shareholders resident in Jordan have been given the opportunity to receive the dividend in Jordanian Dinar, at a rate of 0.708 Jordanian Dinar per US dollar.

- ENDS -

Enquiries:

Hikma Pharmaceuticals PLC
Henry Knowles Company Secretary	[phone]
Susan Ringdal Investor Relations Director	[phone]
Brunswick Group
Jon Coles / Justine McIlroy		[phone]

About Hikma

Hikma Pharmaceuticals PLC is a fast growing multinational group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed pharmaceutical products.  Hikma's operations are conducted through three businesses: 'Branded', 'Injectables' and 'Generics'.  Hikma's operations are based principally in the Middle East and North Africa ('MENA') region, where it is a market leader and sells across 17 countries, the United States and Europe.  In 2008, the Group achieved revenues of $580.7 million (2007 $449 million) and profit attributable to shareholders was $57.1 million (2007 $63 million).  For news and other information, please visit www.hikma.com.

 

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