Nicox S.A. (NYSE Euronext Paris: COX) today announces that its Board of directors has unanimously decided at its May 31, 2012 meeting not to exercise NicOx’s option to acquire the remaining 88.2% of equity of Altacor. Nicox acquired 11.8% of the equity of Altacor in March 2012. Accordingly, the option to acquire the remaining shares of Altacor lapsed on May 31, 2012.
Nicox’s Board deemed that it was not in the best interest of Nicox and its shareholders to acquire the remaining 88.2% of equity of Altacor at this stage. Nicox will retain a stake of 11.8% in Altacor and Gavin Spencer, Executive Vice President, Corporate Development of Nicox will continue to be a member of Altacor’s Board of Directors.