REG - GSK PLC - GSK completes sale of shares in Haleon plc

GSKAnnouncement

17/05/2024 07:00

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RNS Number : 8209O  GSK PLC  17 May 2024

Issued: 17 May 2024, London UK

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR PUBLICATION, RELEASE, TRANSMISSION DISTRIBUTION OR FORWARDING,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION
IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF
SECURITIES IN ANY JURISDICTION.

GSK completes sale of remaining shares in Haleon

 

 

GSK plc (LSE/NYSE: GSK) today announced that, further to its announcement on
16 May 2024, GSK has agreed to sell 385,320,110 ordinary shares in Haleon plc
("Haleon") at a price of 324 pence per share (the "Placing Shares"), raising
gross proceeds of approximately £1,248m (the "Placing").

Following settlement of the Placing, GSK will have fully exited its position
and will no longer hold any ordinary shares in Haleon.

Following the successful demerger and premium listing of Haleon as announced
on 18 July 2022, GSK initially retained a 12.94% stake in Haleon. As a result
of the disposals announced on 12 May 2023, 6 October 2023, 16 January 2024 and
16 May 2024, GSK has since sold a total of 1,195m ordinary shares in Haleon
for cumulative gross proceeds of approximately £3.9bn. GSK's exit of its
position in Haleon is consistent with its previous commitments to monetise its
holding in a disciplined manner.

 

About GSK

GSK is a global biopharma company with a purpose to unite science, technology,
and talent to get ahead of disease together. Find out more at www.gsk.com.

 

 

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Disclaimer

The contents of this announcement have been prepared by and are the sole
responsibility of GSK.

This announcement is for information purposes only and is not intended to and
does not constitute or form part of any offer or invitation to purchase,
otherwise acquire, subscribe for, sell, otherwise dispose of or issue, or any
solicitation of any offer to sell, otherwise dispose of, issue, purchase,
otherwise acquire or subscribe for, any security.

Information regarding forward-looking statements

GSK cautions investors that any forward-looking statements or projections made
by GSK, including those made in this announcement, are subject to risks and
uncertainties that may cause actual results to differ materially from those
projected. Such factors include, but are not limited to, those described under
Item 3.D 'Risk factors' in the Company's Annual Report on Form 20-F for 2023
and GSK's Q1 Results for 2024.

This Announcement does not constitute a recommendation to acquire any ordinary
shares in Haleon. This Announcement does not identify or suggest, or purport
to identify or suggest, the risks (direct or indirect) that may be associated
with an investment in Haleon. Any investment must be made solely on the basis
of publicly available information, which has not been independently verified
by Goldman Sachs International ("Goldman Sachs") or Merrill Lynch
International ("BofA Securities").

No offer

Neither this announcement nor anything contained herein shall form the basis
of, or be relied upon in connection with, any offer or purchase whatsoever in
any jurisdiction and shall not constitute or form part of an offer to sell or
the solicitation of an offer to buy any securities in the United States or in
any other jurisdiction. The securities referred to herein may not be offered
or sold in the United States absent registration with the United States
Securities and Exchange Commission or an exemption from registration under the
U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities
referred to herein may not be deposited in an unrestricted depositary receipt
facility for 40 days following the commencement of the Offering or for so long
as the securities are "restricted securities" within the meaning of Rule 144
under the Securities Act. GSK does not intend to register any part of the
Offering in the United States or to conduct a public offering in the United
States of the shares to which this announcement relates.

This announcement does not constitute a prospectus or an offer or invitation
to purchase securities. This announcement is only addressed to, and directed
at, persons who are "qualified investors", being persons falling within the
meaning of Article 2(e) of Regulation (EU) 2017/1129 as it forms part of
domestic law in the United Kingdom by virtue of the European Union
(Withdrawal) Act 2018 and who: (a) (i) have professional experience in matters
relating to investments falling within the definition of "investment
professionals" in article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order"); or (ii) are
persons falling within article 49(2)(a) to (d) ("high net worth companies,
unincorporated associations, etc") of the Order; or (b) persons to whom it may
otherwise lawfully be communicated, (each such persons in (a) and (b) together
being referred to as "Relevant Persons").

In addition, this announcement is not being distributed, nor has it been
approved for the purposes of Section 21 of the Financial Services and Markets
Act 2000 ("FSMA"), by a person authorised under FSMA.

This document is directed only at Relevant Persons and must not be acted on or
relied on by persons who are not Relevant Persons. Under no circumstances
should persons who are not Relevant Persons rely or act upon the contents of
this announcement. Any investment or investment activity to which this
announcement relates in the United Kingdom is available only to, and will be
engaged only with, Relevant Persons. Persons distributing this announcement
must satisfy themselves that it is lawful to do so.

The Placing and the distribution of this announcement and other information in
connection with the Placing in certain jurisdictions may be restricted by law.
No action has been taken that would permit the Placing or distribution of this
announcement in any jurisdiction where action for such purpose is required.
Persons into whose possession any document or other information referred to
herein comes should inform themselves about and observe any such restriction.
Any failure to comply with these restrictions may constitute a violation of
the securities laws of any such jurisdiction.

In connection with the Placing, Goldman Sachs, BofA Securities and their
respective affiliates may take up a portion of the Placing Shares as a
principal position at any stage at their sole discretion, inter alia, to take
account of the objectives of GSK, MiFID II/ UK MiFID II requirements and in
accordance with allocation policies and in that capacity may retain, purchase,
sell, offer to sell for their own accounts such Placing Shares and other
securities of the Company or related investments in connection with the
Placing or otherwise.  Accordingly, references in this announcement to the
Placing Shares being sold, offered, subscribed, acquired, placed or otherwise
dealt in should be read as including any issue or offer to, or subscription,
acquisition, placing or dealing by, Goldman Sachs, BofA Securities or their
respective affiliates acting in such capacity.  In addition, Goldman Sachs,
BofA Securities and their respective affiliates may enter into financing
arrangements (including swaps or contracts for differences) with investors in
connection with which Goldman Sachs, BofA Securities and their respective
affiliates may from time to time acquire, hold or dispose of Placing Shares.
Neither Goldman Sachs nor BofA Securities intends to disclose the extent of
any such investment or transactions otherwise than in accordance with any
legal or regulatory obligations to do so.

Any communications that a transaction is or that the book is "covered" (i.e.
indicated demand from investors in the book equals or exceeds the amount of
the securities being offered) is not any indication or assurance that the book
will remain covered or that the transaction and securities will be fully
distributed by Goldman Sachs or BofA Securities.

None of Goldman Sachs, BofA Securities or any of their or their respective
affiliates' directors, officers, employees, advisers or agents accepts any
responsibility or liability whatsoever for or makes any representation or
warranty, express or implied, as to the truth, accuracy or completeness of the
information in this announcement (or whether any information has been omitted
from the announcement) or any other information relating to Haleon, GSK, their
respective subsidiaries or associated companies, whether written, oral or in a
visual or electronic form, and howsoever transmitted or made available or for
any loss howsoever arising from any use of this announcement or its contents
or otherwise arising in connection therewith.

Goldman Sachs and BofA Securities are each authorised by the Prudential
Regulatory Authority and regulated in the United Kingdom by the Prudential
Regulation Authority and the Financial Conduct Authority, and are acting for
GSK and for no one else in connection with the Placing and will not be
responsible to anyone other than GSK for providing the protections afforded to
their customers or for affording advice in relation to the Placing, the
contents of this announcement or any transaction, arrangement or other matter
referred to in this announcement.

 

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