Rhein Biotech N.V. to be delisted from Frankfurt stock exchange
Rhein Biotech N.V. shares to be exchanged for Crucell shares
Leiden, The Netherlands, November 16, 2006 - Dutch biotechnology
company Crucell N.V. (Euronext, NASDAQ: CRXL; Swiss Exchange: SW CRX)
today announced plans to de-list Rhein Biotech N.V. from the
Frankfurt stock exchange. The de-listing will be effectuated by way
of a legal merger between Rhein Biotech NV and Berna Rhein BV, a
Crucell group company. Rhein Biotech N.V. shareholders will receive
1.158 Crucell NV shares in exchange for each Rhein Biotech share
held.
Ownership of Rhein Biotech N.V. is currently divided between Berna
Biotech AG in Switzerland, also fully owned by Crucell N.V., with a
92.7% holding, and external shareholders, who hold the remaining 7.3%
of Rhein Biotech N.V. shares. Rhein Biotech N.V. will legally merge
into Berna Rhein BV, a subsidiary in the Crucell group, against
Crucell shares. The share capital of Crucell will be extended with
345,350 shares, which is less than 1% of the current outstanding
share capital. It is expected that the merger will be effected before
December 31, 2006.
"De-listing Rhein Biotech N.V. will increase our shareholder value by
reducing administrative costs as well as reduce our external
reporting requirements," commented René Beukema, General Counsel and
Corporate Secretary of Crucell. "The merger and subsequent delisting
will streamline our corporate structure and create more transparency,
which we believe, will enhance our overall corporate governance."
About Crucell
Crucell N.V. (Euronext, NASDAQ: CRXL; Swiss Exchange: CRX) is a
biotechnology company focused on research, development and worldwide
marketing of vaccines and antibodies that prevent and treat
infectious diseases. Its vaccines are sold in public and private
markets worldwide. Crucell's core portfolio includes a vaccine
against hepatitis B, a fully-liquid vaccine against five important
childhood diseases, and a virosome-adjuvanted vaccine against
influenza. Crucell also markets travel vaccines, such as the only
oral anti-typhoid vaccine and the only aluminum-free hepatitis A
vaccine on the market. The Company has a broad development pipeline,
with several Crucell products based on its unique PER.C6® production
technology. The Company licenses this and other technologies to the
biopharmaceutical industry. Important partners and licensees include
DSM Biologics, sanofi aventis, GSK and Merck & Co. Crucell is
headquartered in Leiden (the Netherlands), with subsidiaries in
Switzerland, Spain, Italy, Korea and the US. The Company employs
about 900 people. For more information, please visit
www.crucell.com.
Forward-looking statements
This press release contains forward-looking statements that involve
inherent risks and uncertainties. We have identified certain
important factors that may cause actual results to differ materially
from those contained in such forward-looking statements. For
information relating to these factors please refer to our Form 20-F,
as filed with the U.S. Securities and Exchange Commission on July 6,
2006, and the section entitled "Risk Factors". The Company prepares
its financial statements under generally accepted accounting
principles in the United States (US GAAP) and Europe (IFRS).
For further information please contact:
Crucell N.V. For Crucell in the US:
Paul Vermeij Redington, Inc.
Director Investor Relations and Corporate Thomas Redington
Communications Tel. +1 212-926-1733
Tel. +31-(0)71-524 8718 tredington@redingtoninc.com
p.vermeij@crucell.com
