6th Nov 2015 09:53
LONDON (Alliance News) - EKF Diagnostics Holdings PLC on Friday said it has reached an agreement with former shareholders of Selah Genomics Inc to release shares held in escrow back to EKF.
EKF had issued the shares as part of the consideration for its 2014 acquisition of Selah.
Following the new agreement, GBP5.6 million of the GBP5.8 million in shares which had been held in escrow will be sold, with the net proceeds going to EKF, or cancelled in due course. The remaining shares will be released to Selah shareholders who did not agree to the new deal.
Shares in EKF were up 1.6% to 15.75 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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