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Yeh, they could even short sell on IG index to lock in a price if they really wanted to. The chances are, those directors are already rather rich just from the takeover so this will be fun money if they want a new car / house / whatever! In the current climate you can’t buy either so I‘m not expecting a dump of shares onto the market in a couple of weeks.
Thanks for that.
It means that the directors of the company we took over nearly a year ago can sell their shares, should they wish to. They were bought out with part cash & part shares dea but restricted on selling the shares for a year (pretty standard stuff) - partly to avoid a dump of shares straight after the takeover and partly to keep them motivated and integrated with Yourgene!
What does this mean please. ?
What does this mean please can I ask?
Elucigene's executive management team have agreed to roll approximately 60 per cent. of their shareholdings in Elucigene (representing approximately 20 per cent. of Elucigene's total issued share capital) into new Ordinary Shares in Yourgene. The Consideration Shares to be issued to such members of the Elucigene's executive management team will be subject to lock-up restrictions for a period of 12 months.
https://www.investegate.co.uk/yourgene-health-plc--ygen-/rns/proposed-acquisition--placing---subscription/201904171648435442W/
Lock in ending later this month:
Subsequent to the acquisition of Delta Diagnostics (UK) Ltd (trading as Elucigene Diagnostics) completed on 25 April 2019, the former shareholders of Elucigene are subject to a lock-in deed until 24 April 2020.
"£2.9 million equity consideration for the Acquisition is to be satisfied through the issue of 24,581,111 new Ordinary Shares to Elucigene shareholders at an issue price of 11.7 pence per new Ordinary Share"
Https://www.investegate.co.uk/yourgene-health-plc--ygen-/rns/proposed-acquisition--placing---subscription/201904171648435442W/
Https://www.yourgene-health.com/investors/securities-information/share-information#