Le Lézard
Classified in: Health, Science and technology, Business
Subject: ACC

Osmotica Pharmaceuticals plc Announces Results of Extraordinary General Meeting


BRIDGEWATER, N.J., Sept. 4, 2019 /PRNewswire/ -- Osmotica Pharmaceuticals plc ("Osmotica" or the "Company") (Nasdaq: OSMT), a fully integrated biopharmaceutical company, today announced results of the Company's Extraordinary General Meeting.

At the Extraordinary General Meeting of the Company held on 29 August 2019, the resolution placed before the meeting in respect of the approval of the waiver under Rule 37 of the Irish Takeover Rules (the Rules) taken by independent shareholders of the Company on a poll was approved. The result of the poll was 3,373,340 votes for; and 1,036,232 votes against.

Accordingly, as a result of potential future repurchases by the Company of up to 5,251,892 ordinary shares of US$0.01 each in the capital of the Company, the aggregate percentage shareholding in the capital of the Company held by the parties specified in the table below (and persons deemed to be acting in concert with them under the Rules) (together, the Affected Parties) may proportionally increase up to the maximum percentage specified below (assuming that the Affected Parties do not participate in such repurchases). In such circumstances, the Affected Parties will not incur an obligation under Rule 37 of the Rules to make a general offer to the Company's other shareholders.


Current Shareholding
(Number)

Current Shareholding
(%)

Potential Shareholding
following Share
Repurchases (%)

Avista Capital
Partners

20,450,785 ordinary shares

38.94%

43.27%

Altchem Limited

22,417,540 ordinary shares

42.68%

47.42%

Management
Individuals

2,003,099 ordinary shares

3.81%

4.23%

The full text of the resolution is set of in the Notice of Extraordinary Meeting of Shareholders which is available at https://www.osmotica.com/.

About Osmotica Pharmaceuticals plc
Osmotica Pharmaceuticals plc is a fully integrated biopharmaceutical company focused on the development and commercialization of specialty products that target markets with underserved patient populations. Our diversified product portfolio in the specialty neurology and women's health therapeutic areas, together with our non-promoted complex formulations of generic drugs, form the foundation of our unwavering commitment to improve patients' lives. 

Osmotica has a late?stage development pipeline highlighted by two NDA candidates that recently completed Phase III clinical trials: arbaclofen ER for spasticity in multiple sclerosis patients and RVL?1201 for the treatment of acquired blepharoptosis, or droopy eyelid.

Osmotica has operations in the United States, Argentina, and Hungary. 

For further information:

Investor and Media Relations for Osmotica Pharmaceuticals plc

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

SOURCE Osmotica Pharmaceuticals plc


These press releases may also interest you

at 07:00
Last week Ritchie Bros. conducted its largest Tipton, CA auction ever, selling more than 2,600 equipment items and trucks for US$27+ million on February 14. A record 5,850+ people from 43 countries registered to bid in the unreserved public auction,...

at 07:00
Timelineapp Tech Limited (Timeline), a fintech company that provides advisors with next-generation retirement income software, today announced Livetrack - your Co-pilot for retirement journeys - at the 2020 T3 Technology Tools for Today Advisor...

at 07:00
The Garment Manufacturers Association in Cambodia (GMAC) is disappointed with the decision announced on 12 February 2020 by the European Commission to partially suspend the "Everything But Arms" (EBA) trade program for Cambodia. The EBA allows EU...

at 07:00
Building strong partnerships across the globe can considerably improve the welfare of our planet as a whole, say Symrise. People are increasingly conscious about the products they buy and the impact their behaviour might have on our planet. But...

at 07:00
Vincent Chiara, President of MACH, and Serge Goulet, President of Devimco Immobilier, invite media representatives to the announcement of an agreement to develop an initial phase of the Quartier des lumières, located on the site of the former Maison...

at 06:55
Weidai Ltd. ("Weidai" or the "Company") , a leading auto-backed financing solution provider in China, today announced the appointment of Marcum Bernstein & Pinchuk LLP ("MarcumBP") as the Company's independent registered public accounting firm. The...



News published on 4 september 2019 at 06:50 and distributed by: