Matrix completes Docpharma's share purchase

Matrix Laboratories Limited has completed a share purchase of a controlling stake in Docpharma NV from the Van Rompay family and other key shareholders. The transaction was announced on June 19, 2005.

Matrix Laboratories has purchased 1,370,085 shares (approximately 22 per cent of the issued share capital) in Docpharma NV at a price of Euro 34 in cash for each share.

The share purchase has been facilitated through the formation of a newly incorporated Belgian company, Matrix Laboratories NV, which is controlled by Matrix Laboratories Limited.

Matrix Laboratories will now launch a mandatory public takeover bid at the same price for the remaining shares, which will be formally notified and announced in the course of this week, in accordance with applicable Belgian take-over regulations.

Leon Van Rompay and Stijn Van Rompay have signed management agreements with Docpharma NV according to which Leon and Stijn shall continue to render services in the capacity of chief executive officer and chief operating officer respectively, according to a Matrix press release.