Novozymes Completes Acquisition of Philom Bios Inc.
Release Date: December 10, 2007
Novozymes Biologicals Holding A/S announced today that as of 12:01 a.m. on December 10, 2007, approximately 3,460,335 common shares of Philom Bios have been validly deposited to the Offer by Novozymes Biologicals Holding A/S, a wholly-owned subsidiary of Novozymes A/S, to acquire all of the common shares of Philom Bios (including common shares issuable upon the exercise of any options). Novozymes Biologicals Holding A/S has taken up these shares, which represent approximately 98% of the common shares of Philom Bios, and will pay for these shares today by providing the depositary with sufficient funds for transmittal to the holders of these shares.
Novozymes Biologicals Holding A/S first announced its intention to make the Offer on October 31, 2007 and it mailed its take-over bid circular to the shareholders of Philom Bios on November 2, 2007. Novozymes Biologicals Holding A/S will now exercise its statutory rights under The Business
Corporations Act (Saskatchewan) to compulsorily acquire the remaining Philom Bios common shares that were not deposited to the offer. Following the compulsory acquisition, Novozymes Biologicals Holding A/S intends to cause Philom Bios to apply to securities regulatory authorities to cease to be a reporting issuer.
About Philom Bios Inc.
Philom Bios Inc. is a world leading Inoculant Company with over 70 employees across North America in research, manufacturing, marketing and management and in its joint-venture operations in Australia. Headquartered in Saskatoon, SK, Philom Bios is a Canadian public company serving the needs of farmers with high-value inoculants. Philom Bios has an over 25 year commitment to farmers through a dynamic partnership with distributors and leading retailers. Read more at www.philombios.com.
For more information:
Philom Bios Inc.
3935 Thatcher Avenue
Saskatoon, SK Canada S7R 1A3
Phone: (306) 657-8202
Fax: (306) 668-4232