EQS-Adhoc IGEA to update on business combination
EQS Group-Ad-hoc: IGEA Pharma N.V. / Key word(s): Miscellaneous
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IGEA to update on business combination
Hoofddorp, the Netherlands,15 February 2021. IGEA Pharma N.V. (SIX: IGPH) today announced an update on the business combination with Blue Sky Natural Resources LTD ("BSNR") disclosed for the first time on 8 August 2020.
Closing of the transaction
Subject to receipt of shareholders approvals and satisfaction of certain other conditions customary for a transaction of this type, the closing of the combination is expected within end of April 2021 at the latest. The previously disclosed closing deadline could not be maintained due to the overall lockdowns that slowed down the process.
Post -closing ownership allocation
PKF Italy has been mandated with an independent valuation of BSNR that will form the basis for determining the number of newly issued IGEA shares to be offered and subscribed for by the BSNR shareholders against contribution in-kind of their BSNR shares at the closing of the transaction. The PKF valuation report is expected within end of February 2021.
General meeting approval
All required information is expected to be available in the appropriate form beginning of March 2021 at the latest, following which the parties will seek for approval by their respective general meeting. The extraordinary general meeting of IGEA is expected to be scheduled within April 2021.
The combination will create an EU headquartered and SIX-listed company specialized in high quality cannabidiol (CBD), terpenes, policosanol and plant sterols extraction using supercritical CO2 technology with elevated supply chain standards on raw materials features, titration, pollutants control, and bioavailability for health prevention, pharma, nutraceutical and cosmeceutical solutions.