Levrett PLC (LON:LVRT), a Company formed to acquire a target company with realisable or developed commercial technologies in the pharmaceutical and biotechnology sector, today announced its final results for the period ended 31 March 2017 and posting of Annual Report.
CHAIRMAN’S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2017
Levrett announced on 15 September 2017 the conclusion of this process and that it has entered into a conditional agreement to acquire the entire issued share capital of Nuformix Limited (“Nuformix”) for a total consideration of £12,000,000 to be settled through the issuance of new ordinary shares in the Company at a price of 4 pence per share (the “Acquisition”), subject to Shareholders’ approval and Re-admission.
In addition, the Company announced a Placing, under which it has issued 57,500,000 Placing Shares at 4p per share, raising £2.3 million, conditional, inter alia, upon Re-Admission.
Details of Proposed Acquisition of Nuformix Limited, the Placing of New Ordinary Shares, Approval of a Waiver of obligation under Rule 9 of the City Code on Takeovers and Mergers and Notice of General Meeting have been published in the Prospectus which has been sent to shareholders.
The Prospectus has been approved by the UK Listing Authority and is available for inspection at the Financial Conduct Authority’s National Storage Mechanism which can be accessed from www.morningstar.co.uk/uk/NSM. The Prospectus is also available on the Company’s website http://www.levrett.com/investors.
A copy of the Company’s Annual Report is being posted to shareholders and has been filed with the National Storage Mechanism which can be accessed from www.morningstar.co.uk/uk/NSM and is also available on the Company’s website http://www.levrett.com/investors.
Francis Lidgey
Chairman
21 September 2017
