Company Announcements

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

3 April 2020

Recommended Cash Offer

for

Consort Medical plc

By

Recipharm Holdings Limited

a directly wholly-owned subsidiary of Recipharm AB

Offer Closed

On 4 February 2020, the boards of Recipharm Holdings Limited ("Recipharm") and Consort Medical plc ("Consort") announced that the recommended cash offer (the "Offer") to acquire the entire issued and to be issued share capital of Consort had been declared unconditional in all respects. The full terms of, and conditions to, the Offer and the procedures for acceptance were set out in the offer document dated 6 December 2019 (the "Offer Document"). The definitions set out in the Offer Document dated 6 December 2019 have the same meanings in this announcement.

On 17 February 2020, Recipharm announced that the Offer would remain open for acceptances until 1.00 p.m. (London time) on 2 April 2020.

On 2 April 2020, Recipharm completed the exercise of its rights pursuant to the provisions of Chapter 3 of Part 28 of the Companies Act 2006 to acquire compulsorily the remaining Consort Shares in respect of which the Offer had not been accepted on the same terms as the Offer.

Closing of the Offer

Recipharm announces that it has acquired the entire issued share capital of Consort.

The Offer is therefore closed to further acceptances with effect from 1.00 p.m. (London time) on 2 April 2020.

Further information

This announcement is for information purposes only and is not intended to and does not constitute or form part of, any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the Offer or otherwise nor shall there be any sale, issuance or transfer of securities of Consort in any jurisdiction in contravention of applicable law.

Overseas Shareholders

This announcement has been prepared in accordance with English law, the Takeover Code, the Market Abuse Regulation and the Disclosure Guidance and Transparency Rules and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England. The statements contained in this announcement are made as at the date of this announcement, unless some other time is specified in relation to them, and there shall be no implication that there has been no change in the facts set forth in this announcement since such date.

The Offer is subject to the applicable rules and regulations of the FCA, the London Stock Exchange and the Takeover Code.