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Mergers & Acquisitions

Biotech demerger completed, key appointments reported

Published in Drug Week, October 8th, 2004

Amrad Corporation Limited (AML) announced successful completion of the final steps in the demerger and spin-out of its anti-infectives business, Avexa Limited.

Having obtained shareholder approval on August 31, federal court approval of the scheme of arrangement has been granted and the scheme became effective upon filing the court order at Australia Securities and Investments Commission. This now clears the path for Avexas shares to be freely traded on the ASX as planned beginning on around September 23, 2004.

Amrad is also delighted to announce the appointment of Hugh Niall as chairman of Avexa, Julian Chick as Avexas CEO and the promotion of...

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