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AquaBounty Technologies Inc

  • BY: Andrew Hore |
  • POSTED: 31/10/2012 |

Intrexon Corporation has acquired a 47.7% stake in aquaculture technology developer AquaBounty Technologies Inc and it is making a mandatory bid.

Intrexon is a private biotechnology company and it acquired the shares from Linnaeus Capital Partners BV and its subsidiary Tethys Ocean BV for $6m, or 12.3 cents (7.64p a share). The market closed before the announcement of the stake purchase. At 5.12p a share, AquaBounty is valued at £5.24m.

The sellers have four directors on the AquaBounty board and they will resign.

Intrexon will offer 7.64p a share to the other shareholders. AquaBounty’s certificate of incorporation requires anyone holding more than 30% of the shares to make a bid for the company. It is uncertain whether Intrexon wants to acquire all the minority shareholdings or if it wants to maintain an Aim quotation.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2012_37.pdf

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