Name change and consolidation16 May 2024 15:42
What are folks thinking of the latest development with AMC? 160:1 share consolidation and a name change to CRISM Therapeutics Corporation. At a general meeting on 29th May, If the proposed resolutions are not passed, it is expected that the company’s AIM listing will be cancelled with immediate effect and the directors will seek a winding up of the company.
I had hoped to recoup some residual value here but not sure how this will pan oot!
AMUR MINERALS CORPORATION
(AIM: AMC)
Proposed Reverse Takeover
Publication of Admission Document
Proposed Acquisition of Extruded Pharmaceuticals Limited
Proposed Share Consolidation, Change of Name and Board Changes,
Admission of the Enlarged Share Capital to trading on AIM and Notice of General Meeting
Notice of Annual General Meeting
Amur Minerals Corporation ("Amur" or the "Company"), which has been reclassified as an AIM Rule 15 cash shell, is pleased to announce that further to the announcement of 4 March 2024, the Company has now executed a sale and purchase agreement ("SPA") to conditionally acquire the entire issued and to be issued share capital of Extruded Pharmaceuticals Limited ("Extruded Pharmaceuticals" or "EPL"), a UK-based drug delivery technology company which is focused on improving the performance of cancer treatments for solid tumours through the local delivery of chemotherapy drugs (the "Proposed Transaction" or "Acquisition").
The Proposed Transaction constitutes a reverse takeover pursuant to Rule 14 of the AIM Rules for Companies (the "AIM Rules") and, accordingly, is conditional upon, among other things, the approval of Shareholders at a General Meeting of the Company to be held at 10.30 a.m. (or as soon thereafter as the Company's AGM concludes) on 29 May at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London, EC4R 3TT.
Pursuant to Rule 15 of the AIM Rules, the Company's Existing Ordinary Shares will remain suspended from trading on AIM until completion of the Proposed Transaction. Trading in the Ordinary Shares will commence at admission, which is expected to be at or around 8 a.m. on 31 May 2024 ("Admission").
Highlights
· Proposed Acquisition of the entire issued and to be issued share capital of Extruded Pharmaceuticals Limited for an aggregate consideration of £5.5 million, to be satisfied by the issue of 23,939,986 New Ordinary Shares (the "Consideration Shares");
· Proposed share consolidation at a ratio of 1:160 (the "Share Consolidation");
· Proposed change of name to CRISM Therapeutics Corporation; and
· Proposed board changes, conditional on Admission, with the resignation of each of Robert Schafer, Robin Young, Thomas Bowens and Paul Gazzard, and the appointments of Dr Nermeen Varawalla as Independent Non-Executive Chair, Andrew Webb as Chief Executive Officer, Dr Christopher McConville as Chief Scientific Officer and Gerald Beaney as Independent Non-Executive Director.
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