Proactive Investors - Run By Investors For Investors

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.

View full SKIN profile View Profile

Integumen Timeline

Big Picture
May 21 2019

Related Articles

An illustration of Ozop's BLIF technique
March 30 2019
A key area of focus for the West Palm Beach, Florida, company is development of balloon lumbar interbody fusion (BLIF) technology
An instrument made by Pressure BioSciences
June 26 2019
The company’s high-pressure technologies can help drug makers produce protein-based therapeutics, a market expected to touch $240 billion by 2023
June 07 2019
Geremy Thomas, founder and chief executive of Sativa, said the company has "delivered expeditiously on its investment promise to the market"

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use