Innocoll and Gurnet Point Announcement relating to the Scheme becoming Effective

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 OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

24 July 2017

RECOMMENDED OFFER

FOR INNOCOLL HOLDINGS PLC

BY

GURNET POINT L.P. ACTING THROUGH ITS GENERAL PARTNER
WAYPOINT INTERNATIONAL GP LLC

(through Lough Ree Technologies Limited, its wholly owned subsidiary)

to be implemented by means of a scheme of arrangement under
Chapter 1 of Part 9 of the Irish Companies Act 2014

Announcement relating to the scheme becoming effective

ATHLONE, Ireland, July 24, 2017 (GLOBE NEWSWIRE) -- Innocoll Holdings plc ("Innocoll" or the "Company") and Gurnet Point L.P. (acting through its general partner, Waypoint International GP LLC) ("Gurnet Point") today announce the completion of the acquisition of Innocoll by Gurnet Point through its wholly owned subsidiary Lough Ree Technologies Limited ("Gurnet Bidco") by means of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the "Scheme") which took effect today (the "Acquisition").

Christopher Viehbacher, Managing Partner of Gurnet Point Capital said, "Gurnet Point is pleased to announce that its acquisition of Innocoll is now effective.  We are excited by the prospect of helping to develop and bring XaraColl to the market and we look forward to assisting with the re-submission of XaraColl for FDA approval and preparing for its commercialization."

Tony Zook, Chief Executive Officer of Innocoll said, "We were pleased to receive such a strong showing of shareholder support which enabled us to complete the acquisition of Innocoll by Gurnet Point, and are looking forward to working closely with our colleagues at Gurnet to successfully file, and ultimately commercialize XaraColl in the US market."

Despatch of cheques in respect of the Cash Consideration to be paid pursuant to the Scheme and the recording of the CVR Consideration in the initial register of CVRs will occur by 7 August 2017.

In connection with the completion of the Acquisition, Innocoll's ordinary shares ceased to be publicly traded on the NASDAQ as of the close of market 21 July 2017 and the listing was suspended before the market opened today.

For further information please contact:

Innocoll Holdings plc

Anthony Zook, Chief Executive Officer
[e-mail]

Cautionary Statement Regarding Forward-Looking Statements