FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For period ending March 2009
GlaxoSmithKline plc
(Name of registrant)
980 Great West Road, Brentford, Middlesex, TW8 9GS
(Address of principal executive offices)
Indicate by check mark whether the registrant files or
will file annual reports under cover Form 20-F or Form 40-F
Form 20-F x Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No x
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Issued: Thursday, March 19, 2009, London UK
GlaxoSmithKline Announces Sale of Shares in Quest Diagnostics Inc.
GlaxoSmithKline plc (the
“Group”) announces today that it has sold 5,749,157 shares of common stock, par
value of $0.01 per share (the “Shares”), of Quest Diagnostics Inc.
(“Quest”).
The sale of the Shares was achieved partly through market sales under Rule 144 of the U.S. Securities Act of 1933, and, partly through a sale directly to Quest. Details of these transactions are provided below.
During
the period
17th
March to
19th
March 2009,
1,237,500
Quest shares were sold in the market,
as follows:
|
Date |
Number of Shares |
Aggregate Price |
Average |
|
17 th March 2009 |
500,000 |
$22,749,150 |
$45.50 |
|
18 th March 2009 |
500,000 |
$22,852,050 |
$45.70 |
|
19 th March 2009 |
237,500 |
$10,541,960 |
$44.39 |
|
Total |
1,237,500 |
$56,143,160 |
$45.37 |
In addition to the market sales
detailed above, on
19th
March 2009, 4,511,657 Quest shares were
sold back to Quest for $44.33 per share, for an aggregate price of approximately $200
million.
The Shares were sold
as part of a gradual reduction in the
Group’s holding and to take advantage of Quest's recently expanded share repurchase
programme. The Group originally
acquired the Shares following the sale of the Group’s clinical laboratories business
to Quest in 1999.
Following the sale of the Shares, the Group holds 30,755,151 shares of common stock in
Quest, being approximately 16.5% of the issued share capital of Quest, with a market value
of approximately $1.36 billion.
S M Bicknell
Company Secretary
19 March 2009
GlaxoSmithKline – one of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com
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Enquiries: |
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UK Media enquiries: |
Philip Thomson |
(020) 8047 5502 |
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David Outhwaite |
(020) 8047 5502 |
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Stephen Rea |
(020) 8047 5502 |
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US Media enquiries: |
Nancy Pekarek |
( 919 ) 483 2839 |
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Mary Anne Rhyne |
(919) 483 2839 |
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Kevin Colgan |
(919) 483 2839 |
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Sarah Alspach |
(215) 751 7709 |
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European Analyst/Investor enquiries: |
David Mawdsley |
(020) 8047 5564 |
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Sally Ferguson |
(020) 8047 5543 |
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Gary Davies |
(020) 8047 5503 |
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US Analyst/ Investor enquiries: |
Tom Curry |
(215) 751 5419 |
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Jen Hill |
(215) 751 7002 |
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Cautionary statement
regarding forward-looking statements |
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Registered in England & Wales: No. 3888792 |
|
Registered
Office: TW8 9GS |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorised.
GlaxoSmithKline plc
(Registrant)
Date: March 20, 2009
By: VICTORIA WHYTE
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Victoria Whyte
Authorised Signatory for and on
behalf of GlaxoSmithKline plc