28.12.2007 21:31:00
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Plethico Pharmaceuticals Limited Completes Acquisition of Natrol, Inc.
Plethico Pharmaceuticals Limited ("Plethico") today announced that it
has completed its acquisition of Natrol, Inc. (Nasdaq: NTOL). The
acquisition was completed in accordance with the merger agreement
announced last month among Plethico, Nutra Acquisition Company, Inc. ("MergerSub”),
a wholly owned subsidiary of Plethico, and Natrol, by means of the
merger of Natrol with MergerSub following a successful tender offer for
Natrol's common shares.
Shashikant Patel, Chairman and Managing Director of Plethico, commented:
"We are pleased to announce the successful completion of Plethico's
acquisition of Natrol, and we are excited with the opportunity this
acquisition represents for Plethico."
Approximately 92% of the outstanding shares of Natrol common stock were
tendered and accepted for payment in MergerSub’s
tender offer, which expired at 5:00 pm, New York City time, on December
27, 2007. MergerSub successfully acquired in the tender offer a number
of Natrol shares sufficient to permit MergerSub to effect a short-form
merger of MergerSub into Natrol under Delaware law without the vote of
or any other action by the remaining Natrol stockholders. In the merger,
all outstanding shares of Natrol common stock were converted into the
right to receive $4.40 net per share in cash, without interest thereon
and less any required withholding taxes (the same price as the offer
price in MergerSub’s tender offer).
About Plethico Pharmaceuticals Limited
Plethico Pharmaceuticals Limited (BSE: 532739.BO: PLETHICO), a
herbal/nutraceutical focused Indian Company, engages in the manufacture,
marketing and distribution of pharmaceutical and allied healthcare
products in India and internationally. The company’s
product portfolio includes: herbal health care products, such as Travisil®
and Mountain Herbz® food supplements; consumer
healthcare products and nutraceuticals, which include sports nutrition
(Coach’s Formula®),
confectionary (Byte®, Actifresh®),
pharma/OTC (Effertabs®, Therasil®)
and pharmaceutical formulations. The Company today operates in
Commonwealth of Independent States (CIS), Africa, South East Asia, Latin
America and certain gulf countries. Plethico was founded in 1991 and has
its Registered office in Indore (Madhya Pradesh) and has its corporate
office in Mumbai, India.
About Natrol -- Nourishing the Potential of Mind and Body(SM)
Natrol, Inc. (Nasdaq: NTOL), headquartered in Chatsworth, CA, has a
portfolio of health and wellness brands representing quality nutritional
supplements, functional herbal teas, and sports nutrition products.
Established in 1980, Natrol’s portfolio of
brands includes: Natrol®, MRI, Prolab®,
Laci Le Beau®, Promensil®,
Trinovin®, Nu Hair®
and Shen Min®. The company also manufactures
supplements for its own brands and on behalf of third parties.
Natrol distributes products nationally through more than 54,000
retailers, as well as internationally in over 40 other countries through
distribution partners and subsidiaries in the UK and Hong Kong. Natrol’s
dedication to quality is evidenced by its commitment to high
manufacturing standards, earning the company an "A”
rating from the Natural Products Association’s
Good Manufacturing Practices ("GMP”)
Certification Program -- a designation achieved by less than ten percent
of U.S. nutrition companies. For more information, visit www.Natrol.com.
Forward-Looking Statements This release contains forward-looking statements. This
forward-looking information is based on Plethico’s
current expectations and assumptions, which are subject to a number of
risks and uncertainties that could cause actual results to differ
materially from those anticipated, projected or implied. Plethico
undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
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