Osmotica Pharmaceuticals plc (NASDAQ:OSMT) (“Osmotica” or the “Company”), a fully integrated biopharmaceutical company, today announced results of the Company’s Annual General Meeting.
At the Annual General Meeting of the Company held on June 17, 2021, the resolution placed before the meeting in respect of the approval of the waiver under Rule 37 of the Irish Takeover Rules (the Rules) taken by independent shareholders of the Company on a poll was approved. The result of the poll was 11,457,687 votes for; and 3,919,503 votes against.
Accordingly, as a result of potential future repurchases by the Company of up to 6,271,913 ordinary shares of US$0.01 each in the capital of the Company, the aggregate percentage shareholding in the capital of the Company held by the parties specified in the table below (and persons deemed to be acting in concert with them under the Rules) (together, the Affected Parties) may proportionally increase up to the maximum percentage specified below (assuming that the Affected Parties do not participate in such repurchases). In such circumstances, the Affected Parties will not incur an obligation under Rule 37 of the Rules to make a general offer to the Company’s other shareholders.
| Current Shareholding (Number) |
Current Shareholding (%) | Potential Shareholding following Share Repurchases (%) | |
| Avista Healthcare Partners, L.P., and Orbit Co-Invest III LLC | 16,763,859 ordinary shares | 26.7% | 29.7% |
| Altchem Limited and Orbit Co-Invest A-1 LLC | 23,667,540 ordinary shares | 37.7% | 41.9% |
| Management Individuals (as defined in the proxy statement) | 1,866,254 ordinary shares | 3.0% | 3.3% |
The full text of the resolution is set of in the Notice of Annual Meeting of Shareholders which is available at https://www.osmotica.com/
