21st Dec 2023 18:36
Novacyt SA - Eastleigh-based biotechnology group focused on clinical diagnostics - Announces update regarding its divestment of Yourgene Health PLC's Taiwanese subsidiary. Novacyt bought Yourgene Health in September under the condition that it has to dispose the subsidiary. Notes delay of approvals needed by the Taiwanese government regarding the divestment of Yourgene's Taiwanese subsidiary Yourgene Health Taiwan Co Ltd to NEX Innovate Pte Ltd for up to USD4 million. The takeover is also subject to a restructuring, which has been completed. "The various approvals have taken significantly longer to achieve than originally anticipated and management do not expect the transaction to complete by the end of 2023 as previously announced," Novacyt says. The company will provide a further update on the disposal at its trading update in January.
Current stock price: 61.36 pence, closed down 3.4% on Thursday in London
12-month change: down 11%
By Tom Budszus, Alliance News slot editor
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