Business
AGM Results and Related Party Transaction
AGM Results and Related Party Transaction.
About this update from Oxford Biodynamics Plc
[{"type":"text","content":"\n \nRNS Number : 5940Z Oxford BioDynamics PLC 15 March 2017 \n\nOXFORD BIODYNAMICS PLC\n(\"OBD\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\nResults of Annual General Meeting\nand\nRelated Party Transaction\nOxford BioDynamics Plc (AIM: OBD), a revenue-generating biotechnology company focused on the discovery and development of novel epigenetic biomarkers for use within the pharmaceutical and biotechnology industry, is pleased to announce that all resolutions as set out in the Notice of Annual General Meeting dated 31 January 2017 were duly passed by shareholders of the Company.\n\nThe Company also announces that it has agreed to pay Tessera Investment Management Limited (\"Tessera\") an additional and final payment of £80,000 in respect of out-of-scope transaction management support services and strategic advice provided to the Company in relation to the Company's recent AIM IPO (the \"Transaction\"). As disclosed in the Company's Admission Document, published on 1 December 2016, Tessera was initially paid £100,000 for in-scope services rendered during the AIM IPO process.\nKatie Long is a director and shareholder of Tessera and became the Company's CFO on 4 October 2016 and is accordingly a related party of the Company under the AIM Rules. The Company's Directors (excluding Katie Long), having consulted with Stifel Nicolaus Europe Limited, the Company's Nominated Adviser, believe that the terms of the Transaction are fair and reasonable insofar as the shareholders of the Company are concerned. \n-ENDS-\nFor further details contact:\nOxford BioDynamics Plc +44 (0)1865 518910\nChristian Hoyer Millar, CEO\nKatie Long, CFO\n \nFTI Consulting &nbs...