06 June 2007
Lipoxen PLC (the 'Company')
Issue of Equity and Holdings in Company
Serum Institute of India Limited ('SIIL')
The Company announces that on 4 June 2007, through the exercise of certain
warrant and option rights that were granted in 2006, Serum Institute of India
Ltd ('SIIL') has been allotted an additional 2,900,000 new ordinary shares of
the Company; 2,700,000 of these new shares were priced at 35 pence per share and
200,000 at 26 pence per share.
The enlarged issued share capital with voting rights of the Company resulting
from the issue of these new shares is 118,843,552.
SIIL's total shareholdings now amounts to 25,295,165 ordinary shares of the
Company, representing 21.3% of the Company's enlarged issued and outstanding
ordinary shares and total voting rights.
An application for admission to trading of the new shares has been made and is
expected to be effective on 12 June 2007.
Poonawalla Investments and Industries PVT. Ltd ('PIIPL')
The Company was informed on May 31 2007 that Poonawalla Investments and
Industries PVT. Ltd ('PIIPL') had acquired 3,775,000 ordinary shares of the
Company at an average price of 49.43 pence. This is PIIPL's only holding in the
Company and represents 3.2% of the Company's current issued and outstanding
ordinary shares and subsequent total voting rights.
PIIPL is the holding company of SIIL, holding more than 50% of SIIL's equity
capital and voting rights. The combined holding is therefore 29,070,165 ordinary
shares of the Company, representing 24.5% of the Company's enlarged issued share
capital and subsequent total voting rights.
The Company has been notified by SIIL that PIIPL and SIIL should be considered a
concert party under the City Code on Takeovers and Mergers.
6 June 2007
M. Scott Maguire, CEO +44 (0)20 7691 3583
Grant Thornton Corporate Finance
Philip J Secrett +44 (0)20 7383 5100
This information is provided by RNS
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