Amrad Corporation Limited (ASX:AML) today announced successful completion of the final steps in the demerger and spin-out of its anti-infectives business, Avexa Limited. Having obtained shareholder approval on 31 August, Federal Court approval of the Scheme of Arrangement has been granted and the Scheme became effective today upon filing the Court order at Australia Securities and Investments Commission. This now clears the path for Avexa’s shares to be freely traded on the ASX as planned on around 23 September 2004. Amrad is also delighted to announce the appointment of Dr Hugh Niall as Chairman of Avexa, Dr Julian Chick as Avexa’s CEO and the promotion of Dr Andrew Nash to the position of Chief Scientific Officer for Amrad.
