News: API Sigma Healthcare Will Not Proceed With Proposal To Merge With API

Nov 5 (Reuters) - Sigma Healthcare Ltd (SIG) :

• WILL NOT PROCEED WITH ITS CURRENT PROPOSAL TO MERGE WITH AUSTRALIAN PHARMACEUTICAL INDUSTRIES LIMITED
• REMAINS OF VIEW THAT SIGMA'S MERGER PROPOSAL WITH API IS A VERY STRONG PROPOSAL FOR ALL STAKEHOLDERS
• REMAINS CONFIDENT OF GROWTH PROSPECTS WITHOUT A MERGER WITH API
• BELIEVE SIGMA BUSINESS BASE PROVIDES A POSITIVE LONGER-TERM OUTLOOK
• DECISION TO DROP PROPOSAL AFTER ASSESSMENT IN CONTEXT OF COMPETITIVE BID PROCESS WITH CHANGING TRANSACTION AND ECONOMIC CONSIDERATIONS