BTA 0.00% 57.0¢ biota holdings limited

strategic stake ?, page-2

  1. 2,961 Posts.

    HOMEX - Melbourne

    Biota Holdings Limited (ASX:BTA) announced today the issue of 5.6
    million Biota shares (7.5% of Biota issued capital) to a subsidiary
    of Babc ock & Brown Pty Limited at a price of $0.45 per share.

    The $2.5m share placement in Biota is Babc ock & Brown's inaugural
    investment in the Australian biotechnology sector. In conjunction
    with the placement, the Company announced the appointment of Mr
    Andrew Tyndale of Babco ck & Brown as a director of Biota Holdings
    Limited, effective 6 June 2003.

    "Babc ock & Brown strongly supports the Biota team and is impressed
    with the Company's drug discovery capability," said Andrew Tyndale.
    "We believe that Biota is now in a strong position to play a leading
    role in the necessary consolidation of the Australian biotech
    industry, and this investment represents our vote of support for the
    Company and its strategy."

    After successfully fending off the Perth-based corporate raider
    Bigshop, Biota has announced a series of positive business
    developments in recent months, leading to improved investor
    confidence. The Company also recently advised shareholders that it is
    now actively seeking merger and acquisition opportunities in the
    biotech sector.

    "Andrew Tyndale and the association with Babcoc k & Brown bring
    valuable M&A expertise to Biota, as well as financial backing for the
    Company's future initiatives," said Biota Chairman, John Grant.

    Andrew Tyndale holds an honours degree in Commerce from Queens
    University in Canada, and has 19 years experience in the investment
    banking field. Mr Tyndale has managed a number of transactions for
    Babco ck & Brown, including the $4 billion purchase of AIDC Limited
    from the Commonwealth Government in 1997 and served as a director on
    several Australian corporate or institutional entities, His present
    role is as co-head of the corporate finance division of Babco ck &
    Brown in Australia, which provides professional financial advisory
    services and invests capital in promising companies and
    opportunities. The division also manages Babc ock & Brown's interests
    in eight specialist funds management companies covering venture
    capital, resources, listed equities and Japanese equities and real


    Babc ock & Brown is a world-leading international investment banking
    firm, specialising in funds management, corporate and project
    financing, infrastructure development, and property investment, Since
    its establishment in 1977, Babco ck & Brown has completed over US$230
    billion of financings for some of the world's largest corporate and
    government bodies. Babc ock & Brown Pty Limited was established in
    Australia in 1982 and has conducted several mergers or acquisitions,
    in addition to its corporate financing activities in Australia, New
    Zealand and South East Asia.

    Interesting - anyone have a forward estimate on share price ?

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Currently unlisted public company.

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