Legal Proceedings Report • Dec 11, 2013
Legal Proceedings Report
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Louvain-La-Neuve, Belgium, 11 December, 2013 - IBA (Ion Beam Applications S.A.), the world's leading provider of proton therapy solutions for the treatment of cancer, announces that it has reached an agreement with SK Capital Partners to settle all outstanding disputes between the two parties under the Share Purchase Agreement, which was closed in early April 2012.
The agreement remains subject to the approval of the final documentation by the respective Boards of Directors of the companies involved.
As part of the settlement, IBA and SK Capital have agreed on the way they will co-manage their joint participation in IBA Molecular Compounds Development Sàrl in the future.
As another part of the settlement, IBA will sell to SK Rose SARL for one euro the EUR 10 million Bridge Note it had received as part of the deferred price for the sale of IBA Molecular.
The write off of the Bridge Note combined with the revaluation of the other assets still owned by IBA and the future expected expenses will result in an exceptional loss of around EUR 5 million. Despite this, the management still confirms its guidance for a positive result for 2013.
Olivier Legrain, Chief Executive Officer of IBA, commented: "We are very happy that constructive discussion has allowed us to find a solution that will give IBA Molecular and IBA management the opportunity to fully concentrate on their respective business. We have found a new basis for our future collaboration with SK Capital and will concentrate on maximising shareholder value."
IBA (Ion Beam Applications S.A.) is a cancer diagnostics and treatment equipment company and the worldwide technology leader in the field of proton therapy.
The Company's primary expertise lies in the development of next generation proton therapy technologies, providing oncology care providers with premium quality services and equipment. IBA's proton therapy solutions are scalable and adaptable, offering universal full scale proton therapy centers as well as next generation compact, single room systems. IBA also focuses on the development and supply of dosimetry solutions for Quality Assurance as well as particle accelerators for medical and industrial applications.
IBA employs more than 1,000 people worldwide and is listed on Euronext Brussels, (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB), more information can be found at: www.iba-worldwide.com
Press release | December 11, 2013 1 | 2
Regulated information
Jean-Marc Bothy Chief Financial Officer Tel: +32 10 47 58 90 [email protected]
Thomas Ralet Vice-President Corporate Communication +32 10 47 58 90 [email protected]
For media and investor enquiries:
Consilium Strategic Communications Amber Bielecka, Mary-Jane Elliott, Matthew Neal and Ivar Milligan +44 (0) 207 920 2354 [email protected]
Press release | December 11, 2013 2 | 2
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