MONTREAL, Dec. 14 /CNW Telbec/ - Shire Acquisition Inc. (TSX: SHQ)
announced today the decision of its board of directors to redeem the
exchangeable shares of Shire Acquisition Inc. in accordance with the rights,
privileges, restrictions and conditions attaching to the Exchangeable Shares,
effective at the close of business on February 12, 2008.
3829359 Canada Inc. has informed Shire Acquisition Inc. that it intends
to exercise its redemption call right and purchase all of the Shire
Acquisition Inc. exchangeable shares (other than those held by Shire plc or
any affiliate of Shire plc) as of the accelerated redemption date. On the
accelerated redemption date, holders will be entitled to receive three
ordinary shares of Shire plc or one American depositary share of Shire plc for
each exchangeable share held (pursuant to the election of holders of
exchangeable shares), plus, if applicable, the full amount of all declared and
unpaid dividends on exchangeable shares on any dividend record date which
occurred prior to the accelerated redemption date, less any amounts withheld
on account of tax required to be deducted and withheld therefrom.
Under the rights, privileges, restrictions and conditions attaching to
the Exchangeable Shares, on and after the close of business on February 12,
2008, the holders of the Shire Acquisition Inc. exchangeable shares will cease
to be holders of such shares and shall be considered and deemed for all
purposes to be the holders of the ordinary shares or American depositary
shares of Shire plc to which they are entitled.
Following the accelerated redemption date, Shire Acquisition Inc. intends
to apply to the Toronto Stock Exchange to have the Exchangeable Shares
Shire Acquisition Inc.
Shire Acquisition is an indirect wholly owned subsidiary of Shire plc.
The exchangeable shares of Shire Acquisition Inc. are listed on the Toronto
Stock Exchange and are convertible into three ordinary shares of Shire plc or
one American depositary share representing three ordinary shares of Shire plc.
Shire plc's ordinary shares are listed on the London Stock Exchange and its
American depositary shares are listed on NASDAQ.
Shire's strategic goal is to become the leading specialty
biopharmaceutical company that focuses on meeting the needs of the specialist
physician. Shire focuses its business on attention deficit and hyperactivity
disorder (ADHD), human genetic therapies (HGT), gastrointestinal (GI) and
renal diseases. The structure is sufficiently flexible to allow Shire to
target new therapeutic areas to the extent opportunities arise through
acquisitions. Shire's in-licensing, merger and acquisition efforts are focused
on products in niche markets with strong intellectual property protection
either in the US or Europe. Shire believes that a carefully selected portfolio
of products with strategically aligned and relatively small-scale sales forces
will deliver strong results.
For further information on Shire, please visit the Company's website:
For further information:
For further information: Eric Rojas (US and Canada), (484) 595-8252;
Cléa Rosenfeld (Rest of the World), +44 1256 894 160; Media: Matthew Cabrey
(US and Canada), (484) 595-8248; Jessica Mann (Rest of the World), +44 1256