30th Sep 2014 10:35
LONDON (Alliance News) - Allergy Therapeutics PLC Tuesday said it has reached an agreement with CFR International SpA to extend the maturity of its GBP4 million convertible loan.
The date of maturity for the loan, granted in March 2012, has been extended from September 30, 2014 to March 31, 2015.
The extension was made following the acquisition of CFR Pharmaceuticals SA, the indirect owner of CFR International SpA, by Abbott Laboratories.
"We welcome Abbott to the company and we feel honoured to have such a successful and highly reputed company as our largest shareholder. This extension will give us the time to review with them our strategic plans and exciting opportunities in order to keep creating value for all our shareholders," said Allergy Chief Executive Officer Manuel Llobet.
Allergy shares were down 2% to 24 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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