Cheshire, UK--(MARKET WIRE)--Aug 13, 2008 --
Protherics PLC
Re share price rise
London, UK; Brentwood, TN, US; 13 August 2008 - Protherics
PLC
("Protherics" or the "Company"), the international biopharmaceutical
company focused on critical care and cancer, notes today's
rise in the
Company's share price and confirms it has received approaches
from a
number of parties interested in acquiring Protherics, which
the board
is considering. However, there can be no certainty that
any
formal offer will be made, nor as to the terms on which
any offer might
be made.
A further announcement will be made in due course.
In accordance with Rule 2.10 of the City Code on Takeovers
and Mergers
(the "Code"), Protherics confirms that at the close of business
on 12
August 2008, it has 342,159,034 ordinary shares of 2 pence
each in
issue and admitted to trading on the London Stock Exchange
under the UK
ISIN code GB00070290.
ENDS
For further information please contact:
Protherics
+44 (0)20 7246 9950
Andrew Heath, CEO
Rolf Soderstrom, Finance Director
Nick Staples, Director of Corporate Affairs
Jefferies International Ltd.
Ian Crosbie
+44 (0)20 7029 8000
Nomura Code Securities Ltd.
Chris Collins
+44 (0) 207 776 1200
Financial Dynamics - press enquiries
Ben Atwell
+44 (0) 20 7831 3113
Or visit www.Protherics.com
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Code, if any person
is, or
becomes, interested" (directly or indirectly) in 1% or more
of any
class of "relevant securities" of Protherics, all "dealings"
in any
"relevant securities" of that company (including by means
of an option
in respect of, or a derivative referenced to, any such "relevant
securities") must be publicly disclosed by no later than
3.30 pm
(London time) on the London business day following the date
of the
relevant transaction. This requirement will continue until
the date on
which the offer becomes, or is declared, unconditional as
to
acceptances, lapses or is otherwise withdrawn or on which
the "offer
period" otherwise ends. If two or more persons act together
pursuant to
an agreement or understanding, whether formal or informal,
to acquire
an "interest" in "relevant securities" of Protherics, they
will be
deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings"
in
"relevant securities" of Protherics by a potential offeror,
or
by Protherics, or by any of their respective "associates",
must be
disclosed by no later than 12.00 noon (London time) on the
London
business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose
"relevant
securities""dealings" should be disclosed, and the number
of such
securities in issue, can be found on the Takeover Panel's
website at
www.thetakeoverpanel.org.uk."Interests
in securities" arise, in summary,
when a person has long
economic exposure, whether conditional or absolute, to changes
in the
price of securities. In particular, a person will be treated
as having
an "interest" by virtue of the ownership or control of securities,
or
by virtue of any option in respect of, or derivative referenced
to,
securities. Terms in quotation marks are defined in the
Code, which can
also be found on the Panel's website. If you are in any
doubt as to
whether or not you are required to disclose a "dealing"
under Rule 8,
you should consult the Panel.
The Directors of Protherics accept responsibility for the
information
contained in this announcement. To the best of the knowledge
and belief
of the Directors of Protherics, who have taken all reasonable
care to
ensure that this is the case, this information is in accordance
with
the facts and does not omit anything likely to affect its
import. This
announcement does not constitute an offer or invitation
to purchase or
subscribe for any securities of the Company.
Jefferies International Limited, which is authorised and
regulated in
the UK by The Financial Services Authority, is acting exclusively
for Protherics and no one else in connection with the matters
referred
to in this announcement and, accordingly, will not be responsible
to
anyone other than Protherics for providing the protections
afforded to
customers of Jefferies International Limited or for providing
advice in
relation to the matters referred to in this announcement.
Notes for Editors:
About Protherics
Protherics (LSE: PTI, NASDAQ: PTIL) is a leading
internationalbiopharmaceutical company focused on specialist
products for
critical
care and cancer.
Protherics has produced two FDA approved biologics for critical
care
use which are currently sold in the US: CroFabTM, a North
American pit
viper antivenom and DigiFabTM, a digoxin antidote. Protherics
reported
revenues of GBP26.1 million for its year ended 31 March
2008 and a
strong cash balance of GBP37.7 million. The Company's strategy
is to
use the revenues generated from its marketed and out-licensed
products
to help fund the advancement of its broad, late stage pipeline.
Protherics has two major development opportunities in its
portfolio.
CytoFabTM is being developed by AstraZeneca, for the treatment
of severe
sepsis, following a major licensing deal announced in December
2005.
AstraZeneca is conducting an additional phase 2 programme
following
changes to the commercial manufacturing process. A new formulation
of
Angiotensin Therapeutic Vaccine, for the treatment of hypertension,
has
today commenced a phase 2a study. Protherics also has four
novel
products being developed in a range of cancer indications
where it
intends to undertake the sales and marketing in the US and/or
the EU.
With headquarters in London, the Company has approximately
300
employees across its operations in the UK, US and Australia.
For further information visit: www.Protherics.com
Disclaimer
This document contains forward-looking statements that involve
risks
and uncertainties including with respect to products under
development
and the progress and completion of clinical trials. Although
we
believe that the expectations reflected in such forward-looking
statements are reasonable at this time, we can give no assurance
that
such expectations will prove to be correct. Given these
uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements. Actual results could differ
materially from
those anticipated in these forward-looking statements due
to manyimportant
factors discussed in Protherics' Annual Report on Form 20-F
and other reports filed from time to time with the U.S.
Securities
and Exchange Commission. We do not undertake to update any
oral or
written forward-looking statements that may be made by,
or on behalf
of, Protherics.
This information is provided by RNS The company news
service from the London Stock Exchange
END
