logo-loader
viewIntegumen

Open Orphan sells remaining stake in Integumen

Open Orphan held a small stake in Integumen through its recent reverse takeover of Venn Life Sciences, which spun out Integumen a few years ago

share certificate
The sale eliminates any possibility of a stock overhang, which can weigh on a share price

Open Orphan PLC (LON:ORPH) has sold its remaining shares in cosmetics testing group Integumen PLC (LON:SKIN).

Integumen was spun out of Venn Life Sciences – the forerunner to Open Orphan – back in 2016, which left the latter with a stake in the new business.

READ: Integumen posts 1,200% rise in first-half revenue

After Open Orphan’s recent reverse takeover of Venn, the new management has decided to sell its holding.

Integumen said the shares, equating to a holding of around 3.1%, had been sold to existing long-term shareholders, “thereby eliminating any overhang on the open market”.

Integumen shares were up 1.4% to 2.08p, valuing the company at just over £20mln.

Quick facts: Integumen

Price: 1.805 GBX

AIM:SKIN
Market: AIM
Market Cap: £17.71 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Integumen named herein, including the promotion by the Company of Integumen in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Multi-year deal with Parity Plc 'a match made in heaven' for Integumen -...

Integumen PLC's (LON:SKIN) Gerry Brandon caught up with Proactive London's Andrew Scott after unveiling a deal to deliver artificial intelligence software to clients of Parity Group, the data and people specialist. Brandon says the Drive4Growth partnership will provide Integumen access to...

5 days, 20 hours ago

2 min read