LONDON (Alliance News) - e-Therapeutics PLC Wednesday said its GBP2.3 million deal to acquire Searchbolt Ltd has become wholly unconditional.
Searchbolt is an internet search engine technology that had de-merged from e-Therapeutics when it floated in 2007.
e-Therapeutics said it has secured 93.5% acceptances for the offer, making it unconditional having passed the 90% threshold. Both e-Therapeutics Chief Executive Officer Malcolm Young and Executive Director Sean Nicolson were shareholders of Searchbolt, and Young is also a director of Searchbolt.
Shares in e-Therapeutics were untraded on Wednesday, having last traded at 14.50 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.