Wednesday June 14, 9:27 am Eastern Time
Company Press Release
SOURCE: Novo Nordisk A/S
The Demerger of Novo Nordisk Moving One Step
Closer
BAGSVAERD, Denmark, June 14 /PRNewswire/ -- Novo Nordisk A/S (NYSE: NVO - news) announced today that its
board of directors has signed a number of formal documents regarding the planned demerger of Novo Nordisk into a health
care company (Novo Nordisk A/S) and an enzyme company (Novozymes A/S).
The documents in question comprise a demerger plan including the directors' report, articles of association for both companies,
joint statement of account and proposals for opening balance sheets for both companies and the official valuers' reports on the
demerger plan and the position of creditors. According to current legislation these documents will be filed and registered with
the Danish Commerce and Companies Agency.
The demerger of Novo Nordisk will be finally adopted at an extraordinary general meeting to be held later this year. As
previously announced, Novo Nordisk is awaiting a private letter ruling on the demerger from the US tax authorities.
Furthermore it was announced that as of 30 June 2000 Gert Almind, family physician, professor, Dr Med Sc, steps down from
the Board of Directors of Novo Nordisk A/S to take over the position as director of the Novo Nordisk Foundation, starting on
1 July 2000.
Novo Nordisk A/S is the world leader in insulin and diabetes care and also manufactures and markets a variety of other
pharmaceutical products. Furthermore, the company is the world's largest producer of enzymes for industrial use.
Headquartered in Denmark, Novo Nordisk employs approximately 15,200 people in 68 countries and markets its products in
179 countries. Its B shares are listed on the stock exchanges in Copenhagen and London. Its ADSs are listed on the New
York Stock Exchange under the symbol ``NVO.'' A demerger of Novo Nordisk with the intention to spin off the Enzyme
Business into a separately listed company is expected to take place around the turn of the year 2000/2001. For further
company information, visit Novo Nordisk on the World Wide Web at novo.dk
SOURCE: Novo Nordisk A/S |
