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Matrix completes share purchase of controlling stake in Docpharma

Our Bureau, HyderabadMonday, July 11, 2005, 08:00 Hrs  [IST]

Matrix Laboratories has completed the share purchase of a controlling stake in Docpharma NV from the Van Rompay family and other key shareholders. The transaction was announced on June 19, 2005. Matrix Laboratories has purchased 1,370,085 shares (approximately 22 per cent of the issued share capital) in Docpharma NV at a price of €34 in cash for each share. The share purchase has been facilitated through the formation of a newly incorporated Belgian company, Matrix Laboratories NV, which is controlled by Matrix Laboratories Ltd. Matrix Laboratories will now launch a mandatory public takeover bid at the same price for the remaining shares, which will be formally notified and announced in the course of next week, in accordance with applicable Belgian take-over regulations. The present announcement is released under section 1 of Article 7 of the Belgian Royal Decree of 8 November 1989 on public take-overs and change of control over companies. Leon van Rompay and Stijn Van Rompay have signed management agreements with Docpharma NV according to which Leon Van Rompay and Stijn Van Rompay shall continue to render services in the capacity of chief executive officer and chief operating officer respectively.

 
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