Expedeon AG: Expedeon shareholders approve sale of proteomics & immunotherapy business and name change to 4basebio AG (news with additional features)
DGAP-News: Expedeon AG
/ Key word(s): Acquisition
- 120 million Euro transaction approved
- Future focus on DNA manufacturing for gene therapy and gene vaccines
- Share buy-back authority obtained
Heidelberg, Germany and Cambridge, UK, 19 December 2019 - Expedeon AG (Frankfurt: EXNN; ISIN: DE000A2YN801; Prime Standard) today announced that the Company's Extraordinary General Meeting (EGM) held in Heidelberg today has approved all management proposals by a large majority without objection. The EGM was held to seek shareholder approval for the sale and purchase agreement with Abcam plc (London Stock Exchange: ABC; ISIN: GB00B6774699; AIM MTF), Cambridge, UK, with respect to the sale of the Company's proteomics and immunology business for EUR 120 million, as announced on November 11, 2019; as well as the proposed name change to 4basebio AG, reflecting the Company's future focus on DNA manufacturing for gene therapy and gene vaccines. Furthermore, approval was sought to enable the Company to set up share buy-back schemes.
"The agreement with Abcam to sell our proteomics and immunology business activities marks an important milestone in our corporate development. The size of the transaction illustrates the value creation of our buy & build strategy. The genomics assets retained in the group alongside the strong financial position of the organization provide us with an exciting growth opportunity," said Dr. Heikki Lanckriet, CEO of Expedeon. "This transaction enables us to focus our efforts on our DNA manufacturing business, where a new market is opening up addressing the rapidly growing gene therapy and gene vaccine area. We would like to thank our shareholders for their approval and the trust placed in our future strategy."
The EGM approved the resolution on the sale and purchase agreement including all annexes and components between Expedeon AG, Expedeon Inc., Abcam plc and Abcam Inc. dated 11 November 2019, concerning the sale and transfer of all shares in Expedeon Holdings Limited from Expedeon AG to Abcam plc as well as the sale and transfer of individual assets from Expedeon Inc. to Abcam Inc.
Also, the EGM approved the authorization to acquire and sell treasury shares under exclusion of shareholders' subscription and tender rights, valid until 18 December 2024.
Moreover, the EGM approved the resolution on the authorization to use derivatives in connection with the acquisition and sale of treasury shares in accordance with section 71 (1) no. 8 of the AktG under exclusion of subscription rights and shareholders' tender rights.
Furthermore, the EGM resolved the change of the Company name to 4basebio AG.
The EGM voting results for each agenda item will be published on December 20, 2019 on the Company's website: www.investors.expedeon.com
For further information, please contact:
MC Services AG (Investor Relations and International Media Relations)
About Expedeon AG (future 4basebio AG): www.expedeon.com
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of Expedeon AG may deviate greatly from the established conclusions or implied predictions contained in such statements. Expedeon does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###
Document title: EGM_Eng
19.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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