Publication of Scheme Document
Acacia Pharma Group PLC
THIS ANNOUNCEMENT CONTAINS REGULATED
INFORMATION
NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION
FOR IMMEDIATE RELEASE
27 April 2022, 12:00 p.m. (Brussels time)
RECOMMENDED ACQUISITION
of
ACACIA PHARMA GROUP PLC
by
EAGLE PHARMACEUTICALS, INC.
to be effected
by means of a scheme of arrangement under Part 26 of the
Companies Act 2006
Publication of Scheme
Document
On 28 March 2022, Acacia Pharma Group PLC (the
“Company” or “Acacia”) and Eagle
Pharmaceuticals, Inc. (“Eagle”), announced that
agreement had been reached on the terms of a transfer of the entire
issued and to be issued share capital of Acacia to Eagle by way of
a scheme of arrangement under Part 26 of the Companies Act 2006
(the “Scheme”).
Publication of the Scheme
Document
The Company announces that a circular in
relation to the Scheme (the “Scheme Document”),
setting out, among other things, a letter from the Chairman of
Acacia, the full terms and conditions of the Scheme, a statutory
explanatory statement, an expected timetable of principal events,
notices of the Court Meeting and the General Meeting and details of
the actions to be taken by Acacia Shareholders has been published
today on Acacia’s website, at
https://acaciapharma.com/investors/shareholder-meetings.
Hard copies of the Scheme Document and Forms of
Proxy for the Court Meeting and the General Meeting have been sent
to Acacia Shareholders.
Capitalised terms used in this announcement (the
“Announcement”) shall, unless otherwise defined,
have the same meanings as set out in the Scheme Document. All
references to times in this Announcement are to London, United
Kingdom times unless stated otherwise.
Timetable
Notices of the Court Meeting and the General
Meeting, both of which will be held at the offices of Sullivan
& Cromwell LLP at 125 Broad Street, New York, New York
10004-2498, United States on 19 May 2022 and through the electronic
facilities that are being made available via the Virtual Meeting
Platform on 19 May 2022, are set out in the Scheme Document. The
Court Meeting will start at 4:00 p.m. (London time) on that date
and the General Meeting will start at 4:15 p.m. (London time) on
that date or as soon thereafter as the Court Meeting concludes or
is adjourned.
The Scheme Document also contains an expected
timetable of principal events in relation to the Scheme, which is
also set out in the Appendix to this Announcement. The Scheme
remains conditional on the approval of the requisite majority of
eligible Scheme Shareholders at the Court Meeting, the requisite
majority of eligible Acacia Shareholders at the General Meeting and
the satisfaction or (if capable of waiver) waiver of the other
Conditions set out in the Scheme Document, including the sanction
of the Court.
The Scheme is expected to become effective
between early June 2022 and 30 June 2022.
Action required
As noted above, notices of the Court Meeting and
the General Meeting, both of which will be held at the offices of
Sullivan & Cromwell LLP at 125 Broad Street, New York, New York
10004-2498, United States on 19 May 2022 and through the electronic
facilities that are being made available via the Virtual Meeting
Platform on 19 May 2022, are set out in the Scheme Document. The
Court Meeting will start at 4:00 p.m. (London time) on that date
and the General Meeting will start at 4:15 p.m. (London time) on
that date or as soon thereafter as the Court Meeting concludes or
is adjourned. Whilst COVID-19 restrictions have been lifted as at
the date of release of this Announcement, the Acacia Directors note
that the COVID-19 situation is constantly evolving, and the US
federal and/or New York State government may change current
restrictions or implement further measures, which affect the
holding of shareholder meetings. As such, whilst Scheme
Shareholders and Acacia Shareholders will be permitted to attend
the Court Meeting and General Meeting, respectively, in person if
they are entitled to and wish to do so (subject to any applicable
COVID-19 restrictions then in force), Scheme Shareholders and
Acacia Shareholders are strongly encouraged to appoint “the Chair
of the meeting” as their proxy for the Court Meeting and General
Meeting, respectively. If any other person is appointed as proxy
and COVID-19 restrictions that affect the holding of the Meetings
are subsequently introduced, that proxy may not be permitted to
attend the relevant Meeting in person (but will be able to remotely
attend, ask questions and/or raise any objections (in the case of
the Court Meeting) and vote at the relevant Meeting via the Virtual
Meeting Platform). Details of how to access and engage in the
business of the Meetings are described in the opening pages of the
Scheme Document and in the Virtual Meeting Guide.
Any changes to the arrangements for the Court
Meeting and/or the General Meeting will be communicated to Scheme
Shareholders and Acacia Shareholders before the relevant Meeting,
including through Acacia’s website at
https://acaciapharma.com/investors and by announcement.
In addition to being able to attend, ask
questions and/or raise objections (in the case of the Court
Meeting) and vote at the Court Meeting and General Meeting in
person, Scheme Shareholders and Acacia Shareholders (and any of
their duly appointed proxies and/or corporate representatives) will
be given the opportunity to access, follow the business of, attend,
submit written questions and /or raise any objections (in the case
of the Court Meeting) and vote at the Court Meeting and the General
Meeting remotely via the Virtual Meeting Platform as described in
the opening pages of the Scheme Document and in the Virtual Meeting
Guide available on Acacia’s website at
https://acaciapharma.com/investors/shareholder-meetings.
Further, in respect of both the Court Meeting
and the General Meeting, Scheme Shareholders and Acacia
Shareholders, respectively, can also submit questions on the
business of the relevant Meeting in advance by email to
IR@acaciapharma.com, provided that such emails must be received no
later than 48 hours (excluding any part of such 48 hour period not
falling on a Business Day) before the time fixed for the relevant
Meeting or any adjournment thereof.
Scheme Shareholders and Acacia Shareholders are
strongly encouraged to complete, sign and return the blue Form of
Proxy for the Court Meeting and the yellow Form of Proxy for the
General Meeting in accordance with the instructions printed thereon
(or to appoint a proxy electronically as referred to in the Scheme
Document) as soon as possible, but in any event, to be received by
Acacia’s Registrar, Equiniti Limited, not later than the relevant
times set out below:
- Blue Form of
Proxy for the Court Meeting: 4:00 p.m. (London time) on 17 May
2022
- Yellow Form of
Proxy for the General Meeting: 4:15 p.m. (London time) on 17 May
2022
or, if in either case the Meeting is adjourned,
the relevant Form of Proxy should be received not later than 48
hours (excluding any part of such 48 hour period not falling on a
Business Day) before the time fixed for the adjourned Meeting.
If the blue Form of Proxy for the Court Meeting
is not lodged by the relevant time, a copy of the blue Form of
Proxy may be (i) emailed to proxyvotes@equiniti.com at any time
after such time but prior to 30 minutes before the commencement of
the Court Meeting (or any adjournment thereof); or (ii) handed to a
representative of Equiniti on behalf of the Chair of the Court
Meeting, or directly to the Chair of the Court Meeting, at the
Court Meeting before the Court Meeting commences. If the
yellow Form of Proxy for the General Meeting is not lodged by the
relevant time, it will be invalid.
It is important that, for the Court
Meeting, as many votes as possible are cast so that the Court may
be satisfied that there is a fair and reasonable representation of
opinion of Scheme Shareholders. Whether or not Scheme Shareholders
intend to attend and/or vote at the Court Meeting (remotely or in
person), Scheme Shareholders are therefore strongly encouraged to
submit their proxy appointment for the Court Meeting as soon as
possible by post or electronically through CREST.
Recommendation
The Acacia Directors, who have been so advised
by Greenhill & Co. International LLP
(“Greenhill”) as to the financial terms of the
Scheme, consider the terms of the Scheme to be the best available
option for Acacia Shareholders. In providing its financial advice
to the Acacia Directors, Greenhill has taken into account the
commercial assessments of the Acacia Directors.
Accordingly, the Acacia Directors unanimously
recommend that the Scheme Shareholders vote or procure votes in
favour of the Scheme at the Court Meeting and Acacia Shareholders
vote in favour of the Special Resolution to be proposed at the
General Meeting, as the Acacia Directors have irrevocably
undertaken to do in respect of the 217,243 Acacia Shares which they
hold and which they control (or can procure the control of) the
voting rights (representing approximately 0.22 per cent. of the
issued share capital of Acacia as at the Latest Practicable
Date).
Acacia Shareholders should carefully
read the Scheme Document in its entirety before
making a decision with respect to the
Scheme.
Additional information for Acacia
Shareholders
If you have any questions about this
Announcement, the Scheme Document, the Court Meeting or the General
Meeting, or are in any doubt as to how to complete the Forms of
Proxy, please contact the Shareholder Helpline operated by Acacia’s
Registrar, Equiniti, by calling +44 (0)371 384 2050 between 8:30
a.m. and 5:30 p.m. (London time) Monday to Friday (except public
holidays in England and Wales). Calls from outside the UK will be
charged at the applicable international rate. Different charges may
apply to calls from mobile telephones. Please note that calls may
be monitored or recorded for security and training purposes, and
Equiniti cannot provide advice on the merits of the Scheme or give
any financial, legal or tax advice.
If the Scheme is sanctioned as outlined above,
it is expected that the last day of dealings in, and registration
of transfers of, Acacia Shares on Euronext Brussels will be the
Business Day immediately prior to the Effective Date and that no
transfers will be registered after 6.00 p.m. (London time) on that
date. Prior to the Scheme becoming Effective, it is intended that
an application will be made to the market operator of Euronext
Brussels for the cancellation of the listing and trading of the
Acacia Shares on Euronext Brussels, with effect as of or shortly
following the Effective Date. On the Effective Date, share
certificates in respect of Acacia Shares shall cease to be valid
and entitlements to Acacia Shares held within the CREST system
shall be cancelled. It is intended that, following the Scheme
becoming Effective and after the Acacia shares are de-listed,
Acacia will be re-registered as a private limited company under the
relevant provisions of the Companies Act 2006.
Consent
Greenhill, Jefferies and William Blair have each
given and not withdrawn their written consent to the issue of this
Announcement with the inclusion herein of the references to their
name in the form and context in which they appear.
Enquiries
Eagle Pharmaceuticals,
Inc. Tel:
+1 (201) 326-5300
Scott Tarriff
William Blair (Financial Adviser
to Eagle)
Tel:
+1 (312) 236 1600
Christian Hodneland, Eugene Kim, Ty Weston
In-Site Communications, Inc. (PR
Adviser to
Eagle) Tel:
+1 (212) 452-2793
Lisa M. Wilson
Acacia Pharma
Group
plc Tel:
+1 317 505 1280
Mike Bolinder
Greenhill (Joint Financial
Adviser to
Acacia) Tel:
+44 20 7198 7400
Kevin Costantino, Rupert Hill, Dean Rodrigues, James Warr
Jefferies (Joint Financial
Advisor to
Acacia) Tel:
+44 7827 953950
Gil Bar-Nahum
MEDiSTRAVA Consulting (PR Adviser to
Acacia) Tel:
+44 20 7638 9571
Frazer Hall, Mark Swallow, David Dible
Cooley (UK) LLP is acting as legal adviser to
Eagle in connection with the Scheme. NautaDutilh BV is acting as
legal adviser to Eagle in connection with Belgian law. Sullivan
& Cromwell LLP is acting as legal adviser to Acacia in
connection with the Scheme. Eubelius CVBA is acting as legal
adviser to Acacia in connection with Belgian law and its listing on
Euronext Brussels.
APPENDIX
EXPECTED TIMETABLE OF PRINCIPAL
EVENTS
The following indicative timetable is based on
Acacia and Eagle’s current expected dates for the implementation of
the Scheme and is subject to change. If any of the dates and/or
times in this expected timetable changes, the revised dates and/or
times will be notified to Acacia Shareholders by announcement.
Unless otherwise stated, references to all times in this
Announcement and the timetable set out below are to London, United
Kingdom time.
Event |
Time and/or
date(1) |
Publication of the Scheme Document |
26 April 2022 |
Latest time for lodging Forms of Proxy for the: |
|
Court Meeting (blue form) |
4:00 p.m. on 17 May 2022(2) |
General Meeting (yellow form) |
4:15 p.m. on 17 May 2022 (3) |
Voting Record Time |
6:30 p.m. on 17 May 2022 (4) |
Court Meeting |
4:00 p.m. on 19 May 2022 |
General Meeting |
4:15 p.m. on 19 May 2022 (5) |
The following dates and times associated with the Scheme
are subject to change and will depend on, among other things, the
date on which the Conditions to the Scheme are satisfied or, if
capable of waiver, waived by Eagle, the date on which the Court
sanctions the Scheme and the
Scheme Court Order is delivered to the Registrar of Companies.
Acacia will give adequate notice of all
of these dates and times, when known, by issuing
an announcement, with such announcement being made available on
Acacia’s website at
https://acaciapharma.com/investors.
Further updates and changes to these times will be notified in the
same way. See also note (1). |
Scheme Court Hearing |
7 June 2022(6) |
Last day for dealings in, and for the registration of transfer of,
Acacia Shares |
8 June 2022(6) |
Scheme Record Time |
6:00 p.m. on 8 June 2022(6) |
Disablement of CREST in respect of Acacia Shares |
6:00 p.m. on 8 June 2022(6) |
Suspension of dealings in Acacia Shares |
by 7:30 a.m. on 9 June 2022(6) |
Effective Date of the Scheme |
9 June 2022(6) |
|
|
New Eagle Shares listed and commencement of dealings in the New
Eagle Shares on Nasdaq |
9 June 2022(6) |
Cancellation of listing of Acacia Shares |
by no later than 8:00 a.m. on 10 June 2022(6) |
Eagle CDIs credited to CREST accounts (in respect of Scheme Shares
held in uncertificated form only) |
On or soon after 10 June 2022(6) |
Latest date for dispatch of statement of entitlement relating to
the New Eagle Shares held through DRS (in respect of Scheme Shares
held in certificated form only) |
By 23 June 2022(6), being 14 days after the
Effective Date |
Latest date for dispatch of cheques and processing of electronic
transfers and crediting of CREST accounts for cash consideration
due under the Scheme and where applicable fractional payments |
By 23 June 2022(6), being 14 days after the
Effective Date |
_______________________ |
|
(1) The dates and times given are indicative
only and are based on current expectations and are subject to
change (including as a result of changes to the regulatory
timetable). If any of the times and/or dates above change, the
revised times and/or dates will be notified to Acacia Shareholders
by announcement.Participants in the Acacia Share Plans will be
contacted separately to inform them of the effect of the Scheme on
their rights under the Acacia Share Plans, including details of any
appropriate proposals being made and dates and times relevant to
them. |
(2) It is requested that the blue Form of
Proxy for the Court Meeting be lodged not later than 48 hours
(excluding any part of such 48 hour period not falling on a
Business Day) prior to the time appointed for the Court Meeting or,
if the Court Meeting is adjourned, 48 hours (excluding any part of
such 48 hour period not falling on a Business Day) prior to the
time fixed for any adjourned Court Meeting. If the blue Form of
Proxy for the Court Meeting is not lodged by this time, a copy of
the blue Form of Proxy may be (i) emailed to
proxyvotes@equiniti.com at any time after such time but prior to 30
minutes before the commencement of the Court Meeting (or any
adjournment thereof) or (ii) handed to a representative of Equiniti
on behalf of the Chair of the Court Meeting, or directly to the
Chair of the Court Meeting, at the Court Meeting before the Court
Meeting commences. |
(3) In order to be valid, the yellow Form of
Proxy for the General Meeting must be received by no later than 48
hours (excluding any part of such 48 hour period not falling on a
Business Day) prior to the time appointed for the General Meeting
or, if the General Meeting is adjourned, the time fixed for any
adjourned General Meeting. |
(4) If either the Court Meeting or the
General Meeting is adjourned, the Voting Record Time for the
relevant adjourned meeting will be 6:30 p.m. on the day which is
two Business Days prior to the date of the adjourned meeting. |
(5) To commence at 4:15 p.m. or as soon
thereafter as the Court Meeting concludes or is adjourned. |
(6) The dates and times above may change and
will depend, inter alia, on the date on which the Conditions are
satisfied (or, if applicable, waived) and the sanction of the
Scheme by the Court. If any of the expected dates change, Acacia
will give adequate notice of any change by issuing an
announcement. |
Important notice
This Announcement is for information purposes
only and is not intended to and does not constitute, or form part
of, an offer, invitation or the solicitation of an offer to
purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities, or the solicitation of any vote or
approval in any jurisdiction, pursuant to the Scheme or otherwise,
nor the announcement of a forthcoming solicitation of any offer to
acquire or dispose of securities or of any vote or approval, nor
shall there be any sale, issuance or transfer of securities of
Acacia or Eagle in any jurisdiction. The information contained in
this Announcement should not be construed to constitute any form of
advice or recommendation, including but not limited to investment,
tax, legal or other advice, and should not be relied upon as the
basis for any decision or action.
The Scheme will be implemented solely pursuant
to the terms of the Scheme Document, which contains the full terms
and conditions of the Scheme, including details of how to vote in
respect of the Scheme. Any voting decision or response in relation
to the Scheme should be made only on the basis of the information
contained in the Scheme Document and the Forms of Proxy.
The Scheme Document has been prepared in
accordance with and for the purpose of complying with applicable
English law and information disclosed may not be the same as that
which would have been disclosed if the Scheme Document had been
prepared in accordance with the laws of jurisdictions outside
England and Wales.
The Scheme is governed by English law and is not
a public takeover bid within the meaning of the Belgian Act of 1
April 2007 on public takeover bids. To the extent relevant, the
Scheme Document has been prepared in compliance with the Company’s
obligations as a company listed on Euronext Brussels. Neither this
Announcement nor the Scheme Document is a prospectus or a
prospectus-equivalent document. This Announcement and the Scheme
Document have not been submitted to nor approved by the Belgian
Financial Services and Markets Authority.
Disclaimers
William Blair is acting as financial adviser
exclusively for Eagle and no one else in connection with the
Scheme; will not regard any other person as a client in relation to
the Scheme and will not be responsible to anyone other than Eagle
for providing the protections afforded to clients of William Blair
or its affiliates, nor for providing advice in relation to the
Scheme or any other matters referred to in this Announcement.
Neither William Blair nor any of its affiliates, directors or
employees owes or accepts any duty, liability or responsibility
whatsoever (whether direct or indirect, consequential, whether in
contract, in tort, in delict, under statute or otherwise) to any
person who is not a client of William Blair in connection with this
Announcement, any statement contained herein, the Scheme or
otherwise.
Greenhill and Jefferies are acting as joint
financial advisers exclusively for Acacia and no-one else in
connection with the Scheme; will not regard any other person as a
client in relation to the Scheme and will not be responsible to
anyone other than Acacia for providing the protections afforded to
clients of Greenhill, Jefferies or their respective affiliates, nor
for providing advice in relation to the Scheme or any other matters
referred to in this Announcement.
Overseas Jurisdictions
The release, publication or distribution of this
Announcement or the Scheme Document, or any copy thereof, in or
into jurisdictions other than the UK and Belgium may be restricted
by law and therefore any persons who are resident in, or who are
subject to the law of, any jurisdiction other than the UK and
Belgium should inform themselves about, and observe, any applicable
legal or regulatory requirements. In particular, the ability of
persons who are not resident in the UK or Belgium to vote their
Acacia Shares with respect to the Scheme at the Court Meeting, or
to appoint another person as proxy to vote at the Court Meeting on
their behalf, may be affected by the laws of the relevant
jurisdictions in which they are located. Any failure to comply with
the applicable restrictions may constitute a violation of the
securities laws of any such jurisdiction. To the fullest extent
permitted by applicable law, the companies and persons involved in
the Scheme disclaim any responsibility or liability for the
violation of such restrictions by any person.
Copies of this Announcement, the Scheme Document
and any other formal documentation relating to the Scheme are not
being and must not be, directly or indirectly, mailed or otherwise
forwarded, distributed or sent in, into or from any Restricted
Jurisdiction or any jurisdiction where to do so would violate the
laws of that jurisdiction and persons receiving such documents
(including custodians, nominees and trustees) must not mail or
otherwise forward, distribute or send such documents in or into or
from any Restricted Jurisdiction. Doing so may render invalid any
related purported vote in respect of the Scheme.
Further details in relation to Overseas
Shareholders are contained in the Scheme Document.
Notice to US investors
US Holders should note that the Scheme relates
to shares of an English company and is proposed to be implemented
by means of a scheme of arrangement provided for under English law
and which will be subject to the procedural and disclosure
requirements and practices applicable in the UK to schemes of
arrangement, which are different from those that may be applicable
in the United States. The financial information included in this
Announcement and the Scheme Document, if any, has been prepared in
accordance with International Financial Reporting Standards, and
thus may not be comparable to financial information of US companies
or companies whose financial statements are prepared in accordance
with generally accepted accounting principles in the US.
Securities may not be offered or sold in the
United States unless registered under the US Securities Act, and
applicable state securities laws or exempt from such registration.
In reliance on the exemption provided by section 3(a)(10) of the US
Securities Act, the issuance of the New Eagle Shares to be issued
pursuant to the Scheme has not been and will not be registered with
the SEC under the US Securities Act.
Neither the SEC nor any US state securities
commission has approved or disapproved of the New Eagle Shares to
be issued in connection with the Scheme, or determined if this
Announcement is accurate or complete or has passed upon the
fairness or the merits of the proposal described herein. Any
representation to the contrary is a criminal offence in the United
States.
Each Acacia Shareholder is urged to consult his
or her tax adviser regarding the tax consequences of the Scheme
applicable to him or her.
It may be difficult for US investors to enforce
their rights and any claim arising out of the US federal securities
laws, as Acacia is incorporated under the laws of England and
Wales, some of its officers and directors may be residents of, and
some or all of its assets are or may be located in, a non-US
jurisdiction. US investors may not be able to sue a non-US company
or its officers or directors in a non-US court for violations of the
US securities laws. Further, it may be difficult to compel a non-US
company and its affiliates to subject themselves to a US court’s
judgment.
Forward looking statements
This Announcement (including information
incorporated by reference in this Announcement), oral statements
made regarding the Scheme, and other information published by
Acacia, the Acacia Group, Eagle and/or the Eagle Group contain
statements, which are, or may be deemed to be, “forward-looking
statements”. Forward-looking statements are prospective in nature
and are not based on historical facts, but rather on current
expectations and projections of the management of Acacia, the
Acacia Group, Eagle and/or the Eagle Group (as applicable) about
future events, and are therefore subject to risks and uncertainties
which could cause actual results to differ materially from the
future results expressed or implied by the forward-looking
statements.
The forward-looking statements contained in this
Announcement include statements relating to the expected effects of
the Scheme on Acacia, the Acacia Group, Eagle or the Eagle Group
(including their future prospects, developments and strategies),
the expected timing and scope of the Scheme and other statements
other than historical facts. Often, but not always, forward-looking
statements can be identified by the use of forward-looking words
such as “plans”, “expects” or “does not expect”, “is expected”, “is
subject to”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or statements that certain
actions, events or results “may”, “could”, “should”, “would”,
“might” or “will” be taken, occur or be achieved. These statements
include, but are not limited to, statements regarding future events
such as: the strategic fit of Barhemsys® and Byfavo® with Eagle’s
specialised hospital-based salesforce; statements regarding the
addressable market size and commercial potential for Barhemsys® and
Byfavo® and other products or product candidates; the expected
structure, anticipated synergies, terms, timing and closing of the
Scheme; Eagle’s marketing, product development, partnering and
growth strategy, including relating to the commercialisation of
Barhemsys® and Byfavo®, and the ability of Acacia’s technology and
know-how to help Eagle achieve its strategy; the expectation that
the addition of Barhemsys® and Byfavo® will be accretive to Eagle,
and the timing thereof; the expected sources of financing for the
Scheme and the cash resources of Eagle; the ability of Eagle to
expand the application of the Acacia products; the timing, scope or
likelihood and timing of regulatory filings and approvals from the
FDA for Eagle’s product candidates, including landiolol; the
ability of Barhemsys® and Byfavo® to address unmet clinical needs;
the ability of Barhemsys® to offer significant economic savings to
hospitals and ambulatory centres; the ability of Byfavo® to offer
potential health and economic benefits and enable shorter procedure
times and greater patient throughput; the ability of the Scheme to
create value for Eagle’s shareholders; and the ability of Eagle’s
executive team to execute on Eagle’s strategy and build stockholder
value.
Although Acacia and Eagle believe that the
expectations reflected in such forward-looking statements are
reasonable (other than where expressly disclaimed), none of Acacia,
the Acacia Group, Eagle and/or the Eagle Group can give any
assurance that such expectations will prove to be correct. By their
nature, forward-looking statements involve risk and uncertainty
because they relate to events and depend on circumstances that will
occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements. These
factors include, but are not limited to: changes in the global
political, economic, business and competitive environments
(including, but not limited to, the impacts of the COVID-19
pandemic and geopolitical events such as the conflict in Ukraine);
inability to obtain, or meet conditions imposed for, required
governmental and regulatory approvals; interruptions or other
adverse effects to clinical trials; legal or regulatory
developments and changes, including, but not limited to, changes in
environmental and health and safety regulations; government
actions; foreign exchange rate and interest rate fluctuations;
changes in tax rates; weak, volatile or illiquid capital and/or
credit markets; market position of the companies comprising the
Acacia Group; earnings; financial position; cash flows; return on
capital and operating margins; anticipated investments; the ability
of Eagle and/or the Acacia Group to obtain capital/additional
finance; an unexpected decline in revenue or profitability;
retention of senior management; the maintenance of labour
relations; fluctuations in commodity prices and other input costs;
operating and financial restrictions as a result of financing
arrangements; changes in consumer habits and preferences, including
a reduction in demand by customers; competitive product and pricing
pressures; future business combinations or disposals; success of
business and operating initiatives; changes in the level of capital
investment; manufacturing and supply chain interruptions, adverse
effects on healthcare systems, disruption in the operations of
third party partners and disruption of the global economy, and the
overall impact of the COVID-19 pandemic or other events on Eagle or
Acacia’s business, financial condition and results of operations;
whether Eagle will successfully implement its development plan for,
and successfully market and commercialise, its product candidates;
the success of relationships with partners; the availability and
pricing of third party sourced products and materials; the outcome
of litigation involving any products or that may have an impact on
any of Eagle or Acacia’s products; successful compliance with the
FDA and other governmental regulations applicable to product
approvals, manufacturing facilities, products and/or businesses;
the strength and enforceability of Eagle or Acacia’s intellectual
property rights or the rights of third parties; competition from
other pharmaceutical and biotechnology companies and the potential
for competition from generic entrants into the market; the risks
inherent in the early stages of drug development and in conducting
clinical trials; the outcome of Acacia’s shareholder vote, the
Court and other closing conditions; factors in addition to the
foregoing that may impact Eagle or Acacia’s expectations,
including, among other things, any potential business development
transactions, acquisitions, restructurings or legal settlements, in
addition to any unanticipated factors, that may cause actual
results and outcomes to materially differ; and other risks and
uncertainties, including those identified in the “Risk Factors”
section of Eagle's Annual Report on Form 10-K for the year ended
December 31, 2021, filed with the Securities and Exchange
Commission (the “SEC”) on March 8, 2022, and its other subsequent
filings with the SEC.
Other unknown or unpredictable factors could
cause actual results to differ materially from those expected,
estimated or projected in the forward-looking statements. If any
one or more of these risks or uncertainties materialises or if any
one or more of the assumptions prove incorrect, actual results may
differ materially from those expected, estimated or projected. Such
forward-looking statements should therefore be construed in the
light of such factors.
None of Acacia, the Acacia Group, Eagle nor the
Eagle Group, nor any of their respective associates or directors,
officers, employees or advisers, provides any representation,
assurance or guarantee that the occurrence of the events expressed
or implied in any forward-looking statements in this Announcement
will actually occur. Given these risks and uncertainties, you are
cautioned not to place any reliance on these forward-looking
statements.
Specifically, statements of estimated cost
savings and synergies relate to future actions and circumstances
which, by their nature, involve risks, uncertainties and
contingencies. As a result, the cost savings and synergies referred
to may not be achieved, may be achieved later or sooner than
estimated, or those achieved could be materially different from
those estimated and there may be additional changes to the
operations of the Acacia Group. As a result, and given the fact
that the changes relate to the future, the resulting cost synergies
may be materially greater or less than those estimated.
Other than in accordance with their legal or
regulatory obligations, none of Acacia, the Acacia Group, Eagle or
the Eagle Group is under any obligation, and each of the foregoing
expressly disclaim any intention or obligation to update or to
revise any forward-looking statements other than as required by law
or by the rules of any competent regulatory authority, whether as a
result of new information, future events or otherwise.
No profit forecasts or
estimates
No statement in this Announcement, or
incorporated by reference in this Announcement, is intended as a
profit forecast, profit estimate or quantified benefits statement
for any period and no statement in this Announcement should be
interpreted to mean that earnings or earnings per Acacia Share or
per share of common stock of Eagle, as appropriate, for the current
or future financial years would necessarily match or exceed the
historical published earnings or earnings per Acacia Share or per
share of common stock of Eagle, as appropriate.
Hard copies
Acacia Shareholders may request a hard copy of
this Announcement and any information incorporated into it by
reference to another source in hard copy form by writing to Acacia
Pharma Group PLC, The Officers’ Mess Royston Road, Duxford,
Cambridge, England, CB22 4QH or by calling Anne-Marie Elsley, the
Company Secretary, on +44 1223 919760, during normal business
hours. A hard copy of this Announcement will not be sent unless so
requested. Acacia Shareholders may also request that all future
documents, announcements and information sent in relation to the
Scheme should be sent in hard copy form, again by writing to the
address set out above or by calling the telephone number above.
- Scheme Document Publication Announcement
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