Business
Acquisition of outstanding shares
Acquisition of outstanding shares.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n \nRNS Number : 2717G Angle PLC 05 November 2018 \n\n\n\n\nFor immediate release\n\n\n 5 November 2018\n\n\n\n \nANGLE plc (\"the Company\")\n \nAcquisition of outstanding shares in ANGLE North America Inc\n \n \nANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company, announces that it has reached agreement with Dr Georgi Hvichia, the original inventor of the Parsortix microfluidic technology, that ANGLE will acquire Dr Hvichia's outstanding shares in ANGLE's US operating subsidiary ANGLE North America Inc (\"ANAI\") by way of a share-for-share exchange between ANAI and ANGLE plc such that on completion, ANGLE will own 100 per cent. of ANAI. Dr Hvichia is currently a director of ANAI but is moving to a scientific advisory board member role following the completion of this transaction.\n \nThe Company has agreed to issue Dr Hvichia with 1,000,000 new ordinary shares of 10 pence each in the capital of the Company (\"Consideration Shares\") as consideration to acquire the outstanding 303,335 shares in ANAI that ANGLE does not currently own, representing 9.47% of the ANAI issued share capital and c. 3.4% on a fully diluted basis. The Consideration Shares represent approximately 0.70 per cent. of the current issued share capital of the Company. Using the closing mid-market price of an Ordinary Share of 46.75 pence on 2 November 2018, being the last practicable date prior to this announcement, the Consideration Shares have a value of approximately £467,500. Upon Admission of the Consideration Shares, ANGLE will own 100 per cent. of ANAI and Dr Hvichia will own 1,084,425 Ordinary Shares in ANGLE, representing approximately 0.76 per cent. of the enlarged issued share capital of the Company.\n \nThe agreement provides ANGLE with a clean 100% ownership position in all its Group companies facilitating efficient financial, operational and administrative management. This is particularly important as ANAI owns core intellectual property in relation to the ParsortixTM system. \n \nTotal Voting Rights\n \nApplication will be made for the Consideration Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the Consideration Shares at 8.00 a.m. on 9 November 2018. The Consideration Shares will rank...