Hikma Pharmaceuticals
PLC
2024 Annual General Meeting
Update Statement
LONDON, 24 October 2024 - Hikma
Pharmaceuticals PLC ('Hikma' or 'the Company'), the multinational
pharmaceutical company, in accordance with the requirement of
Provision 4 of the UK Corporate Governance Code, is providing an
update following significant votes (defined as above 20%)
against Resolution 22 ('the Rule 9 Waiver
(Buyback Waiver)') at the Annual General Meeting ('AGM') held on 25
April 2024.
The Rule 9 Waiver (Buyback Waiver)
sought the approval of independent shareholders for a waiver
obtained from the Panel on Takeovers and Mergers in respect of any
obligation that could arise, pursuant to Rule 9 of the Takeover
Code, for the Darhold Concert Party (as defined in the 2024 Notice
of AGM) to make a general offer for all the issued Ordinary Share
capital of the Company, following an increase in the percentage of
shares held by the Darhold Concert Party to 30% or more, resulting
from the exercise by the Company of the authority to purchase its
own Ordinary Shares pursuant to Resolution 20 (which received
approval from 99.32% of those voting).
The Board believes that in order to
promote the success of the Company and act in the best interests of
shareholders, the Company should have the flexibility to return
value to shareholders through a possible future buyback programme.
Had the Rule 9 Waiver (Buyback Waiver) not been approved, the
Company would not be able to effect such a buyback programme, as
explained in the 2024 Notice of AGM.
The Company has continued to engage
in a constructive dialogue with its shareholders and their proxy
advisers following the AGM, to explain the rationale behind the
Rule 9 Waiver (Buyback Waiver) and address any concerns they may
have. The Company will provide further detail on these engagement
activities in the 2024 Annual Report.
- ENDS -
Enquiries
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Hikma Pharmaceuticals PLC
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Helen Middlemist
Group Company Secretary
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+44 20
7399 2760
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About Hikma
Hikma helps put better health within
reach every day for millions of people around the world. For more
than 45 years, we've been creating high-quality medicines and
making them accessible to the people who need them. Headquartered
in the UK, we are a global company with a local presence across
North America, the Middle East and North Africa (MENA) and Europe,
and we use our unique insight and expertise to transform
cutting-edge science into innovative solutions that transform
people's lives. We're committed to our customers, and the people
they care for, and by thinking creatively and acting practically,
we provide them with a broad range of branded and non-branded
generic medicines. Together, our 9,100 colleagues are helping to
shape a healthier world that enriches all our communities. We are a
leading licensing partner, and through our venture capital arm, are
helping bring innovative health technologies to people around the
world. For more information, please visit:
www.hikma.com
Hikma Pharmaceuticals PLC (LSE: HIK)
(NASDAQ Dubai: HIK) (OTC: HKMPY)
(LEI:
549300BNS685UXH4JI75)