"The Agency will continue to carefully monitor all activities of the issuer's supervisory and management board especially regarding the provisions of the articles 11 and 30 of the Act on the Takeover of Joint Stock Companies. Every "takeover" before legally stipulated takeover will not be tolerated," HANFA said.
"The Agency has just yesterday (28 June 2006) received the Note on the intention to publish a takeover bid from Barr Laboratories Europe B.V.i.o., Amsterdam, Kingdom of the Netherlands, all in accordance with the article 5 paragraph 2 of the Act on the Takeover of Joint Stock Companies. With this Note the offeror is obliged to act in accordance with the Act on the Takeover of Joint Stock Companies. We would like to emphasize that within seven days after the publication of the takeover bid, the issuer's supervisory board must publish a substantiated opinion on the takeover bid," Hanfa said in a statement issued on its website on Thursday, adding that all information given by now by the issuer's supervisory and management board were not in accordance with the provisions stipulated by the Act on the Takeover of Joint Stock Companies and were yet to come.
"Public should be aware of the fact that the takeover has not occurred yet neither the Agency has received and approved the request to publish the takeover bid," HANFA said, especially pleading on particular media not to prejudge the outcome of the takeover which might mislead the shareholders as well as the public.