2nd Oct 2013 09:12
LONDON (Alliance News) - Shares in Evocutis PLC dropped 45% Wednesday after it announced that it was convening a general meeting to discuss what actions should be undertaken after its net assets fell to less than half of its share capital.
Shares in the skin microbiology and clinical dermatology services company were trading down 51% at 1.25 pence Wednesday morning.
The company said that it was no longer in discussions with potential offerers in relation to a merger or sale of the company. It said that it was continuing to evaluate a number of strategic options, but had decided to terminate its Formal Sale Process immediately. As a result, the company is no longer in an Offer Period as defined in the City Code on Takeovers and Mergers.
Evocutis said it continued to review opportunities to derive value from its living-skin technology Labskin, and was in talks with interested parties over potential strategic and trading relationships.
The company will convene its general meeting on October 28th at 2pm.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
EVO.L