Deepverge PLC (AIM:DVRG), the technology company, has given Microsaic Systems PLC (AIM:MSYS), a partner and customer, a period of exclusivity to purchase assets from its subsidiary Modern Water.
It comes after DeepVerge agreed to Microsaic’s proposal to purchase the water subsidiary for £100,000 cash and the cancellation of all intra-company debt.
The assets being sold include equipment for the lab-based manufacturing of bio-reagents and the IP and rights to its water-related testing gear.
Microsaic will not, however, receive exclusivity rights to purchase the subsidiary's voltammetry technology and equipment.
DeepVerge also confirmed that on 27 December it will be cancelling the admission of its shares for trading on AIM.
DeepVerge shares are trading at 0.15p.