Collagen Solutions Plc Proposes Acquisition of NZ based providers of medical grade collagen

Posted: 21st November 2014 09:18

Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics, announces that a circular, comprising an Admission Document and including a notice of General Meeting, has today been posted to shareholders.
The circular outlines details on:
 - The proposed Acquisition of New Zealand based Southern Lights Ventures 2002 Limited (trading as Southern Lights Biomaterials) for a total maximum consideration of NZ$12m (c. £6m) in cash and shares
 - a logical strategic extension and complementary acquisition that provides additional security of supply of high grade collagen
 - Conditional Placing to raise £6m at 7p, representing c. 50.13% of the Enlarged Issued Share Capital at Admission
 - Directors are subscribing for a total of 9,285,714 Placing Shares
 - Appointment of Geoffrey Bennett, co-founder of Southern Lights, as Chief Business Officer
 - Notice of General Meeting to be held at 3 Robroyston Oval, Nova Technology Park, Glasgow G33 1AP on 9am on 9 December 2014.

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