British lab-tissue pioneer BSF Enterprise PLC (LSE:BSFA) has revealed plans to switch its corporate strategy, to effectively become an umbrella vehicle above increasingly independent subsidiaries.
The London Stock Exchange listed firm will remain over distinct businesses which each target specific end markets with the BSF tissue generation technologies.
- 3D Bio-Tissues: A UK-based cell manufacturing business
- Kerato: Developing lab-grown human corneal products
- Cultivated Meat Technologies: Developing ‘animal-free’ meat products
- Lab-Grown Leather Limited: 'Animal-free’ leather products
- BSF HK: Seeking distribution in the Greater China market
Under the envisaged new structure, London-listed BSF sees each subsidiary pursuing its own financing and partnership arrangements – with each business unit operating autonomously with its own management teams and advancing at its own pace.
"Today's announcement aims to provide an update on the strategic direction and development of the BSF Enterprise portfolio for investors,” chief executive Che Connon said in a statement.
“In recent months, the company has been focused on developing a suite of subsidiary companies and growing specific teams of industry experts and management professionals to lead these companies."
"This is important, given the intricacies of each target market, and will allow each subsidiary to execute its own business model, accelerate the technical progress of its own products and develop its own commercial partnerships.
“We look forward to providing investors with updates on the technical, operational and commercial progress of each company throughout the year."
BSF Enterprise provided a more detailed update on the operations of each business unit in this morning’s statement.
In London, the shares opened the trading day with volatility – falling more than 30% in initial deals – before mostly recovering.
By mid-morning, the share was down 4.3% changing hands at 10.05, valuing the company at around £10 million.