PTI Protherics

    RNS Number : 6116G
  Protherics PLC
  24 October 2008
   

    Protherics PLC
    Rule 2.10 announcement/Conversion of all outstanding Convertible Loan Notes


    Not for release, publication or distribution (in whole or in part) in, into or from any jurisdiction where to do so would constitute a
violation of the relevant laws of such jurisdiction.


    London, UK; Brentwood, TN, US: 24 October 2008 - Protherics PLC ("Protherics" or the "Company"), the international biopharmaceutical
company focused on critical care and cancer, confirms, in accordance with Rule 2.10 of the City Code on Takeovers and Mergers (the "Code"),
that as at the close of business on 23 October 2008, the Company has 350,427,481 ordinary shares of 2 pence each in issue and admitted to
trading on the London Stock Exchange under the UK ISIN Code GB0007029209.

    Between 18 September and 23 October 2008 the Company has issued 8,128,048 ordinary shares following the conversion of all outstanding
six per cent. unsecured convertible loan notes 2010 of Protherics, as further described in the announcement made jointly by Protherics and
BTG plc on 18 September 2008.  References in that announcement and the Scheme Document sent to Protherics Shareholders on 17 October 2008 to
"Protherics Fully Diluted Share Capital" and the number of BTG shares expected to be issued in connection with the Scheme in each case
assumed the issue of this number of shares.


    | Ends |


    For further information please contact:

 Protherics 
 Nick Staples, Director of Corporate Affairs          +44 (0) 7919 480510  
 Julie Vickers, Company Secretary                     +44 (0) 1928 518010

 Jefferies International Limited (Financial Adviser)  +44 (0) 20 7029 8000
 Ian Crosbie, Director


 Nomura Code Securities Limited (Corporate Broker)    +44 (0) 20 7776 1203
 Phil Walker, Director 

 Financial Dynamics - press enquiries
 London: Ben Atwell, Lara Mott                        +44 (0) 20 7831 3113 
 New York: John Capodanno                             +1 212 850 5600

    Or visit  www.protherics.com

    Dealing Disclosure Requirements 

    Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any
class of "relevant securities" of BTG plc or of Protherics, all "dealings" in any "relevant securities" of that company (including by means
of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30
p.m. (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date
on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period"
otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an
"interest" in "relevant securities" of BTG plc or Protherics they will be deemed to a single person for the purpose of Rule 8.3. 

    Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of BTG plc or of Protherics by BTG plc or
Protherics, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business
day following the date of the relevant transaction. 

    A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of
such securities in issue, can be found on the Takeover Panel's website at www.takeoverpanel.org.uk.

    "Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in
the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of
securities, or by virtue of any option in respect of, or derivative referenced to, securities.

    Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether
or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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