12th Jan 2023 13:17
(Alliance News) - HeiQ PLC on Thursday said it completed the acquisition of Tarn-Pure Holdings Ltd for a total consideration of GBP850,000, paid in cash and the issuance of HeiQ shares.
HeiQ is a London-based materials innovation and hygiene technology company. Tarn-Pure is an intellectual property company holding critical EU and UK regulatory registrations to sell elemental copper and elemental silver for use in disinfecting hygiene applications.
HeiQ said further to its announcement on January 4, it will pay Tarn-Pure a cash consideration of around GBP530,000, with the remaining balance relating to the acquisition being satisfied via the issuance of 455,435 HeiQ shares at a price of 69.60 pence.
It claimed this share price represented a significant premium to the current share price, as reflected by shares in HeiQ trading up 0.8% to 33.77p each in London on Thursday afternoon.
The acquisition of Tarn-Pure will enable HeiQ to further increase sales in silver technology, it added.
Following the expected admission of new shares in London on Monday, HeiQ's total number of issued shares will be around 140.5 million.
By Greg Rosenvinge, Alliance News reporter
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