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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (3165)	9/3/2002 7:23:21 AM
From: Icebrg	Read Replies (3) \| Respond to of 10345

As an aside. I don't know if it has been noted that Elan evidently sold their complete holdings in Vernalis in the middle of July. This seems to have been a part of the EPIL III repayment. The issuer advises the following additional information to the VERNALIS GROUP PLC - SCHEDULE 10 - HOLDING IN COMPANY announcement released on 15 July 2002 at 18:29 hours under PRNUK-1507021826-9614. The additional information is shown as below. All other details remain unchanged. Under No.14 - Any additional information: The notification given to the issuer by Shelly Bay Holdings Limited did not make clear whether, following the transfer, Elan Pharmaceuticals Investments III Limited retained an interest in the shares acquired by Shelly Bay Holdings Limited. Shelly Bay Holdings Limited, via its counsel Reitler Brown LLC, has now confirmed in writing that the entire beneficial ownership/legal interest in the 2,943,396 Vernalis Group plc shares was transferred by Elan Pharmaceuticals Investments III Limited to Shelly Bay Holdings Limited and that the registered holder of the shares is Shelly Bay Holdings Limited. I wonder if Shelly Bay Holdings is the mysterious taker of EPIL III assets? Ice