Circassia’s Extended Offer Period For Aerocrine Has Increased Acceptances To 97.2 Percent

Oxford, UK, 30 June 2015: On 15 May 2015, Circassia Pharmaceuticals plc ("Circassia") announced a public offer to the shareholders of Aerocrine AB ("Aerocrine") ("the Offer"). During the extended acceptance period of the Offer, acceptances have increased such that following settlement Circassia will hold a total of 679,092,664 shares in Aerocrine, representing approximately 97.2 percent of the total amount of shares and votes in Aerocrine.

During the extended acceptance period, which ended on 26 June 2015, 31,986,367 shares corresponding to 4.6 percent of the outstanding shares and votes in Aerocrine were tendered in the Offer. For shareholders that accepted the Offer during the extended acceptance period, settlement is expected to take place on 2 July 2015, as previously communicated.

Prior to the Offer, Circassia did not hold or control any shares, directly or indirectly, in Aerocrine or any holdings of financial instruments which would have given Circassia a financial exposure equivalent to a shareholding in Aerocrine. During the extended acceptance period, Circassia agreed to acquire 5,001,069 shares, corresponding to 0.7 percent of the outstanding shares and votes in Aerocrine, outside the Offer on the same terms and conditions as for the Offer, in accordance with applicable rules and regulations.

As announced on 15 June 2015, as Circassia holds more than 90 percent of the shares in Aerocrine, Circassia intends to call for compulsory acquisition of the remaining shares in Aerocrine in accordance with the Swedish Companies Act. In addition, Aerocrine’s Board of Directors has resolved to apply for Aerocrine's shares to be de-listed from Nasdaq Stockholm, and has, as requested by Circassia, issued a notice for an extraordinary general meeting of Aerocrine’s shareholders to be held on 14 July 2015 to, amongst other resolutions, elect a new Board of Directors.


Circassia Pharmaceuticals plc
+44 (0)1865 405 560
Steve Harris
Julien Cotta
Rob Budge

J.P. Morgan Cazenove
+44 (0)20 7742 4000
James Mitford
Alex Bruce

Peel Hunt LLP
+44 (0)20 7418 8900
James Steel
Clare Terlouw

FTI Consulting
+44 (0)20 3727 1000
Ben Atwell
Simon Conway
Mo Noonan

Help employers find you! Check out all the jobs and post your resume.

Back to news