Share Purchase Plan by ICPbio

3 November 2006.
NZX and Media Statement

Share Purchase Plan by ICPbio

ICP Biotechnology Limited (ICPbio) will be offering existing eligible New Zealand registered shareholders the opportunity to participate in a Share Purchase Plan (the SPP). This will allow them to subscribe for up to NZ$5,000 of ICP ordinary shares without brokerage and transaction costs.

The Record Date for the SPP is 17 November 2006. Those persons who are shareholders of ICPbio as at 5pm on the Record Date and who are resident in New Zealand are eligible to participate in the SPP. The price at which shares will be issued under the SPP has been set and is 18 cents per share. Eligible shareholders should expect to receive an offer document containing further details of the SPP shortly after the Record Date.

"We have approximately 4500 shareholders from the reverse takeover of APH. We would like to strengthen our relationship with them by providing this opportunity to more fully participate in ICPbio's future growth plans" says Managing Director, Dr Earl Stevens.

The proceeds will go towards the planned expansion of the facilities, capabilities and newer product offerings, which are now the focus of ICPbio.

ICPbio is one of New Zealand's longest established biotechnology companies. It manufactures and markets products for use in animal reproduction, animal health care and the fine biochemicals field.
ICPbio's vision is set on becoming a leading global manufacturer of quality biological products for the biotechnology, animal and human pharmaceutical industries.

Nearly 100% of its products are exported, primarily to North America and Europe, with increasing amounts to Asia and South America.

ENDS

© Scoop Media