Dr. Reddy’s now holds 98.6% of the shares in OctoPlus

Reddy Netherlands, a wholly owned subsidiary of Dr. Reddy's Laboratories will hold 98.6% of the shares

acqisition

With reference to the joint press releases of Dr. Reddy's and OctoPlus issued on 22 October 2012, 13 December 2012 and 12 February 2013 respectively, the offeror (Reddy Netherlands, a wholly owned subsidiary of Dr. Reddy's Laboratories) and OctoPlus hereby jointly announced that the offeror holds 98.6% of the Shares after the Post Closing Acceptance Period

The acquisition of shares by the offeror pursuant to the offer and outside the offer will, among other things, reduce the number of shareholders and the number of shares that might otherwise be traded publicly, and (i) will thus adversely affect the liquidity and (ii) may affect the market value of the remaining shares.

As a result of the acquisition of more than 95% of the shares by the offeror, the offeror and OctoPlus will jointly request NYSE Euronext Amsterdam to terminate the listing and trading of the Shares on NYSE Euronext Amsterdam as soon as possible.

As long as the shares remain listed on Euronext Amsterdam, OctoPlus shall continue to comply with the Dutch Corporate Governance Code except for (i) current deviations from the code and (ii) deviations from the code that find their basis in the merger protocol, in accordance with the "explain" requirement in respect of such deviations.

In the event that OctoPlus or any merging entity will no longer be listed and its shares will no longer be publicly traded, the provisions applicable to the governance of listed companies will no longer apply and the rights of remaining minority Shareholders may be limited to the statutory minimum.

 

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