Tristel PLC
11 April 2007
TRISTEL PLC ('TRISTEL' OR THE 'COMPANY')
Completion of assignment
Tristel plc ('Tristel'), the AIM listed provider of infection and contamination
control products, announces that it has completed a deed of assignment relating
to the transfer of various intellectual property to the Company from a third
party.
The consideration for the intellectual property paid by the Company was an
aggregate of £600,000 comprising of £300,000 in cash and 606,060 ordinary shares
(the 'Consideration Shares') in the Company amounting to approximately £300,000.
Application has been made for the Consideration Shares to be admitted to trading
on AIM, which is expected to take place on 16 April 2007. The Consideration
Shares will rank equally with the existing ordinary shares of the Company.
As announced at the Interim Results, through the acquisition of Vernagene (now
Tristel Technologies) Tristel became a manufacturer of chemical solutions for
the first time, with blending and bottling of Tristel Solutions' sterilant
products previously being outsourced. To give Tristel greater protection over
its intellectual property it decided to establish a manufacturing facility in
Newmarket. Production activities in Bolton have been re-located to Newmarket
and Tristel has assumed the manufacture of the sterilant products from its prime
contract manufacturer. It is to the transfer of the manufacturing know-how and
the termination of the manufacturing agreement that the above deed of assignment
relates.
Contacts:
Tristel plc Parkgreen Communications Ltd
Paul Swinney Paul McManus
Chief Executive Tel: 020 7479 7933
Tel: 01638 721 500 Mob: 07980 541 893
Email:paul.mcmanus@parkgreenmedia.com
This information is provided by RNS
The company news service from the London Stock Exchange
Completion of assignment
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