The all share offer to purchase HDL was approved by 100% of the shareholders of HDL and the shareholders of RevoluGen. This acquisition restores all the commercial potential of the RevoluGen technology under one roof. This is a strategic move that will significantly strengthen the negotiating position of RevoluGen Ltd. in the present out-licensing discussions that are ongoing.
Pieter Mulier, the CEO of RevoluGen Ltd commented “This is the last stage of the long restructuring process that was begun in early 2016. This restructuring included the introduction of a single share class and a new Shareholders Agreement about a year ago as well as two financing rounds. Consolidating RevoluGen’s commercial assets now makes our negotiating position for the out-licensing deals much stronger. The results of these ongoing negotiations will improve the valuation of RevoluGen in the near future.”
Adam Peake, the CEO of Healthcare Diagnostics Ltd. commented “I am very pleased that this transaction has completed as I am confident that it will result in shareholders of HDL receiving a significant return on their investment thanks to the synergies the deal achieves. The combined entity will have a materially enhanced negotiating position in ongoing licensing discussions , resulting in all shareholders of both companies being able to achieve considerably improved returns than they could as shareholders in two separate entities ”