London, UK, 4 December 2008: BTG plc (LSE: BGC), the specialty pharmaceuticals company, is pleased to announce that all the conditions to its recommended offer for Protherics PLC (the "Acquisition") have been satisfied and the Acquisition has therefore been completed.
Accordingly, 104,044,710 new BTG ordinary shares of 10 pence each issued in connection with the Acquisition were admitted to the Official List and to trading on the London Stock Exchange at 8.00 a.m. today.
Further to the announcement made on 18 September 2008, BTG confirms that, with effect from today, Rolf Soderstrom, Finance Director of Protherics PLC, has joined the board of BTG as Chief Financial Officer and Christine Soden, the current Chief Financial Officer of BTG, has moved to the role of Chief Operating Officer.
“We are delighted to have completed this merger with Protherics, which gives us the platform to build a leading specialty pharmaceuticals business,” commented Louise Makin, BTG’s Chief Executive Officer. “Initial integration activities will focus on prioritising programmes in the development pipeline and rationalising operations to achieve the planned synergies and cost savings. We will provide an update on progress in due course.”
Following admission of the new BTG ordinary shares, the issued share capital and total voting rights in BTG are as follows:
BTG's issued share capital consists of 255,319,921 Ordinary shares of 10 pence each with voting rights attached (one vote per Ordinary share). There are no shares held in Treasury. Therefore the total number of voting rights in BTG as at 4 December 2008 is 255,319,921.
The above total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interests in, or a change to their interest in, BTG under the Financial Service Authority's Disclosure and Transparency Rules.
BTG is an international specialty pharmaceuticals company that is developing and commercialising products targeting critical care, cancer, neurological and other disorders. The company is also seeking to acquire new products to develop and market to hospital specialists, and is building a sustainable business financed by revenues from sales of its critical care products and from royalties and milestone payments on partnered products. For further information, visit: www.btgplc.com.