REG - Hikma Pharmaceutical - 2024 Annual General Meeting Update Statement

Hikma PharmaceuticalsAnnouncement

24/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241024:nRSX3314Ja&default-theme=true

RNS Number : 3314J  Hikma Pharmaceuticals Plc  24 October 2024

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

 

 Hikma Pharmaceuticals PLC
 Helen Middlemist           +44 20 7399 2760

 Group Company Secretary

 

 

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 (http://www.hikma.com)

 

Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY)

(LEI: 549300BNS685UXH4JI75)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMFLFILIALVFIS