Osmotica Pharmaceuticals plc Announces Results of Extraordinary General Meeting
BRIDGEWATER, N.J., Sept. 4, 2019 /PRNewswire/ -- Osmotica Pharmaceuticals plc ("Osmotica" or the "Company") (Nasdaq: OSMT), a fully integrated biopharmaceutical company, today announced results of the Company's Extraordinary General Meeting.
At the Extraordinary General Meeting of the Company held on 29 August 2019, 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 3,373,340 votes for; and 1,036,232 votes against.
Accordingly, as a result of potential future repurchases by the Company of up to 5,251,892 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.
20,450,785 ordinary shares
22,417,540 ordinary shares
2,003,099 ordinary shares
The full text of the resolution is set of in the Notice of Extraordinary Meeting of Shareholders which is available at https://www.osmotica.com/.
About Osmotica Pharmaceuticals plc
Osmotica Pharmaceuticals plc is a fully integrated biopharmaceutical company focused on the development and commercialization of specialty products that target markets with underserved patient populations. Our diversified product portfolio in the specialty neurology and women's health therapeutic areas, together with our non-promoted complex formulations of generic drugs, form the foundation of our unwavering commitment to improve patients' lives.
Osmotica has a late‑stage development pipeline highlighted by two NDA candidates that recently completed Phase III clinical trials: arbaclofen ER for spasticity in multiple sclerosis patients and RVL‑1201 for the treatment of acquired blepharoptosis, or droopy eyelid.
Osmotica has operations in the United States, Argentina, and Hungary.
For further information:
Investor and Media Relations for Osmotica Pharmaceuticals plc
Lisa M. Wilson
In-Site Communications, Inc.
SOURCE Osmotica Pharmaceuticals plc