Printer Friendly

ZENECA GROUP ANNOUNCES RIGHTS OFFERING

 NEW YORK, April 21 /PRNewswire/ -- The board of Zeneca Group PLC announced today that application has been made for the company to obtain a listing on the New York Stock Exchange, and a registration statement on Form F-1, which includes a preliminary prospectus, has been filed with the Securities and Exchange Commission in the United States.
 The board also announced in London that it had published a draft `Pathfinder' prospectus, the introduction of Zeneca's share capital to the London Stock Exchange and its proposed rights issue to raise approximately $1.3 billion for Zeneca. The Pathfinder includes details about Zeneca's business, its products and strategy and is being made available during the period leading up to the publication of the formal prospectus, currently scheduled for May 12, 1993.
 Zeneca is a major international bioscience business engaged in the research, development, manufacture and marketing of ethical (prescription) pharmaceuticals, agricultural chemicals, specialty chemicals, seeds and biological products. These businesses are research and technology intensive, have international development and marketing skills and have a strong common science base.
 The proposed demerger, which is scheduled to be submitted for approval by ICI shareholders on May 28, 1993, will be on the basis of: One Zeneca ordinary share for each ICI ordinary share held at the record date for participation in the demerger, which is expected to be 7:30 am on June 1, 1993. Zeneca is also proposing to raise approximately $1.3 billion by means of a rights issue of new Zeneca ordinary shares, the basis and pricing of which will be announced on May 12, 1993. The rights issue will be fully underwritten by S.G. Warburg & Co. Ltd., Barclays de Zoete Wedd Securities Limited and Goldman Sachs International Limited.
 Dealings in Zeneca fully paid ordinary shares, Zeneca nil-paid rights and ICI shares, ex-demerger, are expected to commence on June 1, 1993.
 Zeneca has appointed S.G. Warburg Securities as Global Co-ordinator of an international marketing program to encourage investors to purchase Zeneca shares and ADRs through separate syndicates of investment banks in North America and the Rest of the World excluding the U.K. Goldman Sachs & Co. and S.G. Warburg Securities have been appointed book-runners of the syndicates in North America and the Rest of the World respectively.
 Allocations of Zeneca shares and ADRs to international investors will be made by S.G. Warburg Securities, Goldman Sachs International and Barclays de Zoete Wedd as International Marketing Co-ordinators. S.G. Warburg Securities will cover such allocations through purchases of Zeneca rights in the market.
 ICI's financial advisers in relation to the proposals are S.G. Warburg & Co. Ltd. and Goldman Sachs International Limited. The Introduction to Listing will be sponsored by S.G. Warburg & Co. Ltd. Brokers to the proposed rights issue will be S.G. Warburg Securities Ltd. and de Zoete & Bevan Limited.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 4/21/93
 /CONTACT: Pat Preston of Zeneca Group plc, 302-886-8601, or Ed Seage, investor relations of Adams & Rinehart, 212-644-9274/


CO: Zeneca Group PLC ST: IN: MTC SU: OFR

TM -- NY123 -- 9041 04/21/93 18:08 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 21, 1993
Words:608
Previous Article:OPTICAL DATA SYSTEMS REPORTS FIRST QUARTER RESULTS
Next Article:CCH REPORTS FIRST QUARTER FINANCIAL RESULTS
Topics:


Related Articles
ICI BOARD TO RECOMMEND ZENECA DEMERGER TO BE READ WITH 1992 RESULTS RELEASE
MEDI-PHYSICS/AMERSHAM HEALTHCARE AND ZENECA PHARMACEUTICALS SET CO-PROMOTION AGREEMENT FOR CANCER PAIN THERAPY AGENT
ZENECA GROUP RIGHTS OFFERING
ZENECA GROUP PLC RIGHTS ISSUE COMPLETED
ZENECA ANNOUNCES NEW INDICATION FOR DIPRIVAN INJECTION
DNA PLANT TECHNOLOGY SIGNS LETTER OF UNDERSTANDING FOR MAJOR LICENSING AGREEMENT FOR TRANSWITCH GENE SUPPRESSION TECHNOLOGY WITH ZENECA
USDA APPROVES NEW GENETICALLY MODIFIED PROCESSING TOMATOES FOR COMMERCIAL RELEASE
Seminis-Zeneca Collaboration Produces Successful Biotech Tomato Product in the UK
Sangamo BioSciences Announces Collaborative Research Agreement With Zeneca Pharmaceuticals in Identification of Novel Gene Targets for Drug Discovery.
Zeneca and Astra look set to merge.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters