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IN BRIEF: DeepVerge Completes Compulsory Acquisition Of Modern Water

Fri, 15th Jan 2021 11:06

DeepVerge PLC - York-based skin product test services company formerly known as Integumen PLC - Completes compulsory acquisition of Modern Water PLC following an agreement reached between the two regarding the offer terms. Terms agreed in August for deal, which valued London-based wastewater firm Modern Water at around GBP21.3 million. Says after receiving shareholder acceptances in respect of 520.3 million Modern Water shares, representing a 94% stake in the company, DeepVerge has now completed the acquisition of all remaining Modern Water shares. Notes it has allotted new 3.6 million new shares following the acquisition and will apply for the shares to be admitted to trading on AIM, with admission expected to occur next Wednesday.

Current stock price: 34.20 pence

Year-to-date change: up 10%

By Zoe Wickens; zoewickens@alliancenews.com

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20 Dec 2023 16:02

IN BRIEF: Microsaic signs exclusivity agreement for DeepVerge assets

Microsaic Systems PLC - Surrey-based developer of real-time mass spectrometers - Says it has entered an exclusivity agreement with DeepVerge PLC, a Dublin-based environmental and life sciences firm. The agreement will grant Microsaic a period of exclusivity to purchase certain assets from DeepVerge's Modern Water business. The assets mostly comprise equipment for the lab-based manufacturing of bio-reagents used in related water testing equipment. These included all IP and rights related to the testing equipment including LX, FX and continuous-toxic-measuring machines, and water membrane technology. This exclusivity agreement follows Microsaic's offer to purchase the assets and their rights for a payment of GBP100,00 in cash, payable to DeepVerge upon completion. The exclusivity period runs until January 16, 2024, the signature of a legally binding sale of the assets, or the cancellation of the proposal by Microsaic.

13 Dec 2023 21:14

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

14 Sep 2023 11:54

DeepVerge receives interest for potential sale of business units

(Alliance News) - DeepVerge PLC on Thursday said it has launched a new website and is still mulling the sale of its Labskin and Modern Water business units.

21 Aug 2023 18:35

IN BRIEF: DeepVerge to be removed from trading on AIM on Thursday

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7 Aug 2023 12:01

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(Alliance News) - DeepVerge PLC on Monday said it will sell Cork, Ireland-based Glanaco Ltd to its previous owners Tony Ryan and Michael Fitzgerald.

2 Aug 2023 11:57

DeepVerge Chief Financial Officer Andrew Waters leaves troubled firm

(Alliance News) - DeepVerge PLC on Wednesday said its Chief Financial Officer Andrew Waters has resigned.

12 Jul 2023 12:01

DeepVerge makes all remaining staff redundant amid cash crunch

(Alliance News) - DeepVerge PLC on Wednesday said it has decided to issue all remaining staff with redundancy notices, as it seeks to sell off its business subsidiaries.

5 Jul 2023 14:38

DeepVerge receives interest for potential sale of business units

(Alliance News) - DeepVerge PLC on Wednesday said it has received "several approaches" for the sale of its Modern Water and Labskin business units.

5 Jul 2023 14:19

Deepverge reports 'multiple approaches' from potential suitors

(Sharecast News) - Deepverge updated the market on progress made in relation to the potential sale of its business units on Wednesday, as well as the current state of its operations.

26 Jun 2023 11:57

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26 Jun 2023 10:52

Microsaic Systems warns of fundraise as DeepVerge invoices unpaid

(Alliance News) - Microsaic Systems PLC's stock price halved on Monday, as the shares of partner DeepVerge PLC were suspended from trading amid a failure to sell operations to raise much-needed funds.

26 Jun 2023 10:06

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26 Jun 2023 08:53

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IN BRIEF: DeepVerge Completes Compulsory Acquisition Of Modern Water

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