Board reviews strategic options to present to shareholders at shareholders' meeting
In preparation of the shareholders' meeting on 7 May 2009, the Board wishes to update shareholders as follows: At the shareholders' meeting, the Board plans to present all available strategic choices, which could include the following options or a combination thereof:
-reverse merger with another biotech business
-selling iclaprim and related assets
-tender offer for the entire company
-other options, including a return of capital
The Board believes that the currently depressed stock market may value the company as a whole less than the sum of its assets. It will therefore invite Arpida shareholders to select their preferred strategic option at the shareholders' meeting on 7 May 2009.
The invitation and agenda for the AGM will be available from 15 April 2009.
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.