Result of Court Hearing

RNS Number:6235W
Theratase PLC
15 May 2007


      Proposed acquisition of Theratase plc (the "Company" or "Theratase")
                          by BBI Holdings plc ("BBI")


               to be effected by means of a Scheme of Arrangement


                          Result of the Court Hearing


On 27 March 2007, the Company announced a recommended proposal by BBI to acquire
the entire issued and to be issued share capital of Theratase to be implemented
by way of a Court approved Scheme of Arrangement. The Scheme Document,
containing the terms and conditions of the Proposal and further information on
the Proposal, was posted to qualifying holders of Theratase Shares (and to
Theratase Optionholders, who received separate offers from BBI in respect of
their Theratase Options, for information only) on 2 April 2007. Terms defined in
this announcement have the same meanings as in the Scheme Document unless the
context requires otherwise.


On 25 April 2007, the Company announced that at the Theratase Court Meeting the
resolution approving the Scheme was passed by a majority in number of
shareholders present and voting representing 99.61 per cent. of the Theratase
Shares held by such shareholders and that certain other resolutions concerning
the Scheme were passed at the Theratase Extraordinary General Meeting.


Today, at the Court Hearing, the Court sanctioned the Scheme and confirmed the
associated reduction of capital of the Company and the Order of the Court made
at the Court Hearing was delivered to the Registrar of Companies in England and
Wales shortly after the Court Hearing. The Acquisition is therefore complete and
cancellation of the listing of the Theratase Shares from the Official List and
admission to trading on AIM of BBI's shares will take effect from 8.00 a.m. on
16 May 2007.


Settlement of the consideration to which any Theratase Shareholder is entitled
under the Scheme will be implemented in full in accordance with the terms of the
Scheme. Theratase Optionholders, who received separate offers from BBI in
respect of their Theratase Options, will receive settlement of any consideration
due to them in accordance with the terms of the letters sent to them on 2 April
2007.


Enquiries:

Theratase plc                          Tel: [phone]
John Chesham
Colin Anderson

KBC Peel Hunt Ltd                      Tel: [phone]
Capel Irwin
David Anderson


KBC Peel Hunt Ltd, which is authorised and regulated in the UK by the Financial
Services Authority, is acting as financial adviser and broker to Theratase in
connection with the Proposal and no-one else and will not be responsible to
anyone other than Theratase for providing the protections afforded to clients of
KBC Peel Hunt Ltd nor for providing advice in relation to the Proposal nor any
other matter referred to in this announcement.


The Theratase Directors, whose names are set out in the Scheme Document, accept
responsibility for the information contained in this announcement. To the best
of the knowledge and belief of the Theratase Directors (who have taken all
reasonable care to ensure that such is the case), the information contained in
this announcement is in accordance with the facts and does not omit anything
likely to affect the import of such information.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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