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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Bioseek | LSE:ATD | London | Ordinary Share | GB0009231639 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMATD
RNS Number : 5853C
Asterand PLC
02 May 2012
2 May 2012
Asterand Plc
("Asterand" or the "Company")
Update on Disposals
On 30 April 2012, the Company announced that it had signed separate letters of intent to sell each of its two businesses: BioSeek and the non-BioSeek Tissue Based Solutions ("Tissue") business. The potential bidder for the BioSeek business has now informed the Company that it will no longer pursue the acquisition and has released the Company from an agreed exclusivity provision.
The Board continues to make good progress with regards to the sale the Tissue business. However, the proceeds received from a successful disposal of the Tissue business may not be sufficient to satisfy all amounts owed on the Company's major secured loans, in which regard the Company remains in default. The Company maintains a constructive dialogue with its major creditors and believes that it continues to receive their support during this process.
The Board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.
Shareholders should be aware that the completion of any disposal or the securing of additional funding is not guaranteed. Further announcements will be made in due course.
For further information, please contact:
Asterand plc Jack Davis, Chairman Tel: + 44 (0) 1763 and Interim Chief Executive 211 600 / + 1 (313) Officer 263-0960 Alan Fishman, Interim As above Chief Financial Officer Daniel Stewart & Company plc Antony Legge Tel: +44 (0) 20 7776 Matthew Wilson 6550 Beaumont Cornish Roland Cornish Tel: (0) + Covington Associates LLC Steven Mermelstein Tel: +1 (914) 420-4510 David Wood
A copy of this announcement will be available at www.asterand.co.uk. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUURURUAAVRAR
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