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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Batm Advanced Communications Ld | LSE:BVC | London | Ordinary Share | IL0010849045 | ORD ILS0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.775 | 4.11% | 19.65 | 18.40 | 19.65 | 19.65 | 19.65 | 19.65 | 42,432 | 16:35:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Communications Services, Nec | 122.83M | -193k | -0.0004 | -491.25 | 85.68M |
TIDMBVC
RNS Number : 4174S
BATM Advanced Communications Ld
21 December 2016
21 December 2016
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM's Adaltis receives Chinese investment
Further to the announcement on 30 June 2016, BATM Advanced Communications Limited (LSE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is pleased to announce that its wholly-owned subsidiary, Adaltis, a manufacturer of medical diagnostics equipment, has now received the investment from its Chinese Joint Venture partner, Egens Biotechnology Company Ltd. ("Egens"), a leading biotechnology company combining biological material development and diagnostic reagent manufacturing.
Egens has paid RMB20m (approximately US$2.85m) to Adaltis in exchange for 4.93% of Adaltis' enlarged share capital, valuing Adaltis at approximately US$58m.
As previously announced, Egens has also made the further investment, by way of a shareholder loan, to Adaltis Bio Med Company ("ABC") of US$1.5m. Adaltis' interest in ABC remains at 40%. Egens also has an option to purchase a further 10% of Adaltis' share capital, which will be exercisable for 90 days after the approval of either Adaltis' 2016 or 2017 financial statements. The purchase price is expected to be based on a valuation of Adaltis at 5.5 times turnover.
Dr Zvi Marom, Chief Executive Officer of BATM, said: "China is one of the world's largest and growing markets and a key target market for our Biomed solutions. We are pleased that our long-term partner has completed the investment in Adaltis. We expect to be able to serve and support major customers in China and gain market share in this important market."
Enquiries:
BATM Advanced Communications --------------------------------- ----------------- Dr Zvi Marom, Chief Executive Officer +972 9866 2525 --------------------------------- ----------------- Moti Nagar, Chief Financial Officer --------------------------------- ----------------- finnCap --------------------------------- ----------------- Stuart Andrews, Scott Mathieson +44 20 7220 0500 --------------------------------- ----------------- Shore Capital --------------------------------- ----------------- Mark Percy, Anita Ghanekar +44 20 7408 4050 --------------------------------- ----------------- Luther Pendragon --------------------------------- ----------------- Harry Chathli, Claire Norbury +44 20 7618 9100 --------------------------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCTMBPTMBJTBTF
(END) Dow Jones Newswires
December 21, 2016 02:00 ET (07:00 GMT)
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