Spencer Pharmaceutical (SPPH)

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SPPH let's get a recap.

Spencer Pharmaceutical Inc. Announces That the Company Management Have Committed to Tender Their Shares as the Initial Step for the Control Interest in Favor of Al-Dorra Holdings Buyout Offer and Its "Hail First Pharma Inc." Subsidiary

Press Release Source: Spencer Pharmaceutical Inc. On Friday February 4, 2011, 9:00 am EST

BOSTON, MA--(Marketwire - 02/04/11) - Spencer Pharmaceutical Inc. (Pinksheets:SPPH - News) announced that the Company management has committed to tender their shares of common stock, which holdings equal to an aggregate of 48,750,000 common shares and represent approximately 20% of the total issued and outstanding shares of the common stock of the Company.

Management believes that this commitment represents another step in the Al-Dorra Holdings buyout offer process related to the Al-Dorra "Hail First Pharma Inc." subsidiary. It is also important for our shareholders to know that the Spencer Pharmaceutical team is working in a dedicated and cohesive effort to the successful conclusion of the buyout offer.