5 Jul 2018 18:03
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND ACCORDINGLY THERE CAN BE NO CERTAINTY THAT ANY TRANSACTION WILL PROCEED
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
5 July 2018
China Grand Enterprises, Inc. ("CGE") and Huadong Medicine Co., Ltd ("HMC")
Statement re announcement by Sinclair Pharma plc ("Sinclair")
HMC, together with CGE (which holds approximately 41.8% of the outstanding share capital of HMC), note the announcement made today by Sinclair and confirm that HMC has made an approach which may or may not result in an offer for Sinclair.
HMC is a leading Chinese pharmaceutical manufacturer and distributor, and is also one of the largest aesthetic marketing companies in China offering botulinum toxin products and fillers. The company's strategy is to become one of the leading aesthetic companies worldwide and believes that Sinclair would support HMC in achieving this ambition.
There can be no certainty that an offer will be made, nor as to the terms on which any offer might be made though HMC and CGE confirm that any offer is likely to be solely in cash.
Enquiries
Piper Jaffray Ltd.
Neil Mackison +44 (0) 20 7796 8400
Graeme Smethurst
China Grand Enterprises, Inc. / Huadong Medicine Co., Ltd
Steven Duan +86 10 8489 1841
Publication on website
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at http://www.eastchinapharm.com/en/news.php by no later than 12 noon on the business day following this announcement.
The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.