Menu
04/07/2001
HOLDINGS WINDFALL FOR GALEN DIRECTORS
THREE Ulster businessmen are to benefit from a share holdings windfall of around £100 million.
Galen pharmaceutical group directors, Dr Allen McClay and John King will pick up £40 million each, while finance director Geoffrey Elliott, as well as charitable trust set up by Dr McClay, will receive £10 million each.
The sale by the three directors is part of Galen’s £100 million share offering to international investors.
The announcement triggered a six per cent fall in Galen’s stock market price, with shares being marked down 47p in one day.
Galen meanwhile also announced a £200 million open offer of new shares to help fund further purchases in their expansion plans. This includes the acquisition of Estrace Tablets, a hormone replacement tablet from Bristol-Myers Squibb.
The Galen group, which employs 1,500 people throughout the British Isles and US, manufactures and markets a range of medicines as well as providing a range of services to the healthcare industry.
(MB)
Galen pharmaceutical group directors, Dr Allen McClay and John King will pick up £40 million each, while finance director Geoffrey Elliott, as well as charitable trust set up by Dr McClay, will receive £10 million each.
The sale by the three directors is part of Galen’s £100 million share offering to international investors.
The announcement triggered a six per cent fall in Galen’s stock market price, with shares being marked down 47p in one day.
Galen meanwhile also announced a £200 million open offer of new shares to help fund further purchases in their expansion plans. This includes the acquisition of Estrace Tablets, a hormone replacement tablet from Bristol-Myers Squibb.
The Galen group, which employs 1,500 people throughout the British Isles and US, manufactures and markets a range of medicines as well as providing a range of services to the healthcare industry.
(MB)
Related Northern Ireland News Stories
Click here for the latest headlines.
21 March 2024
Down Royal Announces Fibrus As New Headline Sponsor
Racegoers of all ages across Northern Ireland are being encouraged to attend Down Royal's brand-new Fibrus Family Race Day taking place on Sunday 14th April 2024. This partnership will see Fibrus secure title naming rights to this year's new race meeting bringing the total number of fixtures at Down Royal in 2024 to fourteen.
Down Royal Announces Fibrus As New Headline Sponsor
Racegoers of all ages across Northern Ireland are being encouraged to attend Down Royal's brand-new Fibrus Family Race Day taking place on Sunday 14th April 2024. This partnership will see Fibrus secure title naming rights to this year's new race meeting bringing the total number of fixtures at Down Royal in 2024 to fourteen.
04 April 2024
'Significant Quantity' Of Tablets Discovered On Co Down Beach
The PSNI have issued a warning following the discovery of a "significant quantity" of tablets of County Down's Cloughey beach on the afternoon of Wednesday, 03 April. Officers responded to reports that large quantity of tablets in plastic blister packs had been found on the beach.
'Significant Quantity' Of Tablets Discovered On Co Down Beach
The PSNI have issued a warning following the discovery of a "significant quantity" of tablets of County Down's Cloughey beach on the afternoon of Wednesday, 03 April. Officers responded to reports that large quantity of tablets in plastic blister packs had been found on the beach.
15 March 2024
NI's 'Unique' Dual Market Access Highlighted To US Business Leaders
Economy Minister, Conor Murphy, has highlighted the "unique trading position" offered by Northern Ireland's dual market access, in his address to a reception of business leaders in Washington, DC.
NI's 'Unique' Dual Market Access Highlighted To US Business Leaders
Economy Minister, Conor Murphy, has highlighted the "unique trading position" offered by Northern Ireland's dual market access, in his address to a reception of business leaders in Washington, DC.
24 January 2024
SRC Announces Return Of Annual Big Apprenticeship Event
Southern Regional College has announced the return of their annual Big Apprenticeship Event this February during Northern Ireland Apprenticeship Week 2024.
SRC Announces Return Of Annual Big Apprenticeship Event
Southern Regional College has announced the return of their annual Big Apprenticeship Event this February during Northern Ireland Apprenticeship Week 2024.
22 January 2024
BCC And NICVA Launch Inclusive Employment Initiative
Belfast City Council and NICVA have hosted more than 200 delegates at Ulster University's Belfast campus to explore how the city can address economic inactivity and achieve a truly inclusive labour market.
BCC And NICVA Launch Inclusive Employment Initiative
Belfast City Council and NICVA have hosted more than 200 delegates at Ulster University's Belfast campus to explore how the city can address economic inactivity and achieve a truly inclusive labour market.
-
Northern Ireland WeatherToday:A cloudy morning with a few showers at times. Becoming dry in the afternoon and staying mainly cloudy, but some sunshine breaking through particularly in the east. Maximum temperature 16 °C.Tonight:Quite cloudy across all counties at first but clear spells most likely towards Down and Antrim, becoming widespread through the evening and overnight. Minimum temperature 5 °C.
