Corporate | 29 July 2010 10:34
WILEX AG / Offer/Statement
29.07.2010 10:34
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
WILEX AG recommends shareholders not to accept the mandatory offer of
dievini Hopp BioTech holding GmbH & Co. KG
Munich, 29 July 2010. The Executive Management Board and Supervisory Board
of WILEX AG (ISIN DE0006614720 / WL6 / Frankfurt Stock Exchange) today
published their joint statement on the mandatory offer received on July 15
2010 from dievini Hopp BioTech holding GmbH & Co. KG. After reviewing the
mandatory offer the Executive Management Board and Supervisory Board
recommend WILEX shareholders to decline the offer and not to tender their
shares.
The recommendation to the shareholders of WILEX AG is based on the
Executive Management Board's and Supervisory Board's opinion that the offer
price of 4.10 Euros per WILEX share although slightly higher than the legal
minimum price does not reflect the full potential of the Company. The
Management Board and Supervisory Board are convinced that despite the risks
inherent to the clinical development of drug and diagnostic candidates, the
potential and the future prospects of WILEX AG are higher than the offer
suggests.
The joint response statement of the Executive Management Board and
Supervisory Board includes a detailed evaluation and discussion on the
appropriateness of the offer price. This statement is published on the
Company's web page http://www.wilex.de/IR/Mandatory_Offer.php and is
available at the premises of WILEX AG.
The mandatory offer made by dievini Hopp BioTech resulted from a legal
obligation after the control threshold of 30% of the Company's voting
rights was exceeded on 2 June 2010. The Executive Management Board and
Supervisory Board of WILEX AG greatly appreciate and welcome the commitment
of dievini Hopp BioTech to WILEX. dievini Hopp BioTech has advised that
they intend to participate in the recently announced capital increase.
About WILEX AG
WILEX AG is a biopharmaceutical company based in Munich and is listed at
the Frankfurt Stock Exchange at the Regulated Market / Prime Standard.
WILEX's mission is to develop drugs with a low side effect profile and
targeted treatment of different types of cancer as well as diagnostic
agents for specific detection of tumours. The Company's product candidates
are based on antibodies and small molecules. WILEX has an attractive
product pipeline which includes both drug and diagnostic candidates: A
pivotal Phase III study with REDECTANE(R) has been completed and positive
data published. RENCAREX(R) is undergoing a Phase III registration trial.
Positive MESUPRON(R) Phase II data in the indication pancreatic cancer have
been published and another Phase II trial in breast cancer is ongoing. The
MEK inhibitor WX-554 has completed a Phase I trial. A further oncology
project (PI3K inhibitor WX-037) is in preclinical development and three
antibody programmes are in research. WILEX aims within a few years to be
able to finance its research and development programmes from its operating
cash flow. Website: http://www.WILEX.com, ISIN DE0006614720 / WKN 661472 /
Symbol WL6
Contact
WILEX AG
Corporate Communications
Katja Arnold (CIRO)
Grillparzerstr. 10
81675 Munich, Germany
Tel.: +49 (0)89-41 31 38-126
Fax: +49 (0)89-41 31 38-99
E-Mail: investors@wilex.com
This communication contains certain forward-looking statements relating to
the Company's business, which can be identified by the use of
forward-looking terminology such as 'estimates', 'believes', 'expects',
'may', 'will' 'should' 'future', 'potential' or similar expressions or by a
general discussion of the Company's strategy, plans or intentions. Such
forward-looking statements involve known and unknown risks, uncertainties
and other factors, which may cause our actual results of operations,
financial position, earnings, achievements, or industry results, to be
materially different from any future results, earnings or achievements
expressed or implied by such forward-looking statements. Given these
uncertainties, prospective investors and partners are cautioned not to
place undue reliance on such forward-looking statements. We disclaim any
obligation to update any such forward-looking statements to reflect future
events or developments.
29.07.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: WILEX AG
Grillparzerstr. 10
81675 München
Deutschland
Phone: +49 (0)89 41 31 38 - 0
Fax: +49 (0)89 41 31 38 - 99
E-mail: info@wilex.com
Internet: www.wilex.com
ISIN: DE0006614720
WKN: 661472
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------------