Overview

Overview

It is proposed that a newly-formed Irish company (New Endo) will become the publicly-traded holding company for two public companies: Endo (a US public company) and Paladin (a Canadian pubic company). This is anticipated to avoid the U.S. anti-inversion rules in Code s. 7874 by virtue inter alia of the former Paladin shareholders holding more than 20% of the shares of New Endo (i.e., approximately 22.6%, corresponding to 35.4M ordinary shares).

Overview

Overview

Terms of rights

Unitholders receive one right for each unit. Three units entitle the holder to acquire one unit at a subscription price of $9.00 per unit corresponding to 91% of the closing price of the units on the TSX on December 18, 2012 (the "Basic Subscription Right") - to raise $37.39M net. Holders of rights who have exercised their rights under the Basic Subscription Right are entitled to subscribe pro rata for any units not purchased initially under the rights. The rights expire on 28 January 2013.

Overview

Overview

Overview

Structure

This is structurally almost identical to the Slate U.S. Opportunity (No. 2) offering.