logo-loader
viewOpen Orphan PLC

Open Orphan merger with hVIVO declared unconditional

The deal has been accepted by shareholders owning 86.9% of the hVIVO shares

Open Orphan PLC -

The merger between Open Orphan PLC (LON:ORPH) and AIM-listed peer hVIVO PLC (LON:HVO) is going ahead after sufficient shareholder approval has been received. 

So far, the deal, where hVIVO shareholders will receive 2.47 Open Orphan shares for every hVIVO share they own, has gained acceptance over 86.9% of the hVIVO shares.

READ: Open Orphan and hVIVO to merge

As a result, the Open Orphan board has lowered the acceptance condition to 75%, meaning that the acceptance condition has been satisfied and the offer has become unconditional as to acceptances.

Cathal Friel, chief executive of Open Orphan said: “We are pleased with the strong level of acceptances which reinforces our view that this is a good deal for the shareholders of both companies. 

“The merger will allow the combined business to maximise shareholder value as we seek to build a larger-scale, profitable, specialist pharma services business.”

Quick facts: Open Orphan PLC

Price: 5.975 GBX

AIM:ORPH
Market: AIM
Market Cap: £31.85 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 Open Orphan PLC named herein, including the promotion by the Company of Open Orphan PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

World renowned virologist talks coronavirus and wider opportunity for Open...

World renowned virologist Professor John Oxford joins Open Orphan PLC's (LON:ORPH) executive chairman Cathal Friel in studio with Proactive London. Professor Oxford's the founder of hVivo and is now working as an adviser and consultant to Open Orphan. He gives his view on the threat posed...

2 weeks, 3 days ago

2 min read