NOVACYT Shareholders Approve The Acquisition Of Primerdesign Ltd
Paris, France and Cambridge, UK – 24 February, 2016 – Novacyt (ALTERNEXT: ALNOV), an international specialist in cancer and infectious disease diagnostics, held Monday 22 February an Extraordinary General Meeting (“EGM”) related to the acquisition of Primerdesign Ltd (“Primerdesign”) and the financing of this acquisition. All resolutions were duly passed by the shareholders.
Graham Mullis, Group CEO of Novacyt, commented:
“I am delighted to announce that the vast majority of our shareholders endorsed the acquisition of Primerdesign. Both the shareholders and the management team of Novacyt are confident that this strategic move will accelerate the Group’s sales and profitability to the benefit of all stakeholders. I am also very pleased to confirm that a number of significant current Novacyt shareholders have committed to support the financing of Primerdesign acquisition. Primerdesign’s own trading continues strongly with a growing interest in their Zika multiplex assay and they have just launched the genesig® molecular platform into China. I look forward to being able to successfully complete this transaction and welcome our new colleagues and shareholders from Primerdesign to the Group.”
Novacyt’s shareholders approved the following during the EGM:
• A capital increase by contribution in kind and the issuance of new Novacyt shares to the benefit of Primerdesign’s shareholders. The final completion of this capital increase will be subject to Novacyt obtaining minimum financing of €7m.
• A delegation of powers will be granted to the Board of Directors in order to record the satisfaction of the condition precedent and consequently to record the completion of this capital increase in kind;
• Grant all powers to the Board of directors to proceed with capital increases in cash:
o Reserved to a category of persons with a maximum par value of €290,000,
o By private placement with a maximum par value of €52,000,
o Reserved to TEPA investors with a maximum par value of €70,000,
o With preferential subscription rights with a maximum par value of €11,600.
- End –
About Novacyt Group
The Novacyt Group is a leader in the field of cellular diagnostics with a growing portfolio of cancer and infectious disease products and services. Through its proprietary technology platform NOVAprep® and a strong international network Novacyt is able to provide an extensive range of oncology and infectious disease diagnostic products. The Group has diversified sales from diagnostic reagents used in oncology, microbiology, haematology and serology markets, and its global customers and partners include major corporates.
For more information please refer to the website: www.novacyt.com
Graham Mullis, Group CEO of Novacyt, commented:
“I am delighted to announce that the vast majority of our shareholders endorsed the acquisition of Primerdesign. Both the shareholders and the management team of Novacyt are confident that this strategic move will accelerate the Group’s sales and profitability to the benefit of all stakeholders. I am also very pleased to confirm that a number of significant current Novacyt shareholders have committed to support the financing of Primerdesign acquisition. Primerdesign’s own trading continues strongly with a growing interest in their Zika multiplex assay and they have just launched the genesig® molecular platform into China. I look forward to being able to successfully complete this transaction and welcome our new colleagues and shareholders from Primerdesign to the Group.”
Novacyt’s shareholders approved the following during the EGM:
• A capital increase by contribution in kind and the issuance of new Novacyt shares to the benefit of Primerdesign’s shareholders. The final completion of this capital increase will be subject to Novacyt obtaining minimum financing of €7m.
• A delegation of powers will be granted to the Board of Directors in order to record the satisfaction of the condition precedent and consequently to record the completion of this capital increase in kind;
• Grant all powers to the Board of directors to proceed with capital increases in cash:
o Reserved to a category of persons with a maximum par value of €290,000,
o By private placement with a maximum par value of €52,000,
o Reserved to TEPA investors with a maximum par value of €70,000,
o With preferential subscription rights with a maximum par value of €11,600.
- End –
About Novacyt Group
The Novacyt Group is a leader in the field of cellular diagnostics with a growing portfolio of cancer and infectious disease products and services. Through its proprietary technology platform NOVAprep® and a strong international network Novacyt is able to provide an extensive range of oncology and infectious disease diagnostic products. The Group has diversified sales from diagnostic reagents used in oncology, microbiology, haematology and serology markets, and its global customers and partners include major corporates.
For more information please refer to the website: www.novacyt.com