MTFB.L Share News (MTFB)

Motif Bio PLC - AIM cash shell - Continues to progress a reverse takeover with a UK-based antibody-drug conjugate discovery and development company. Motif looking to acquire the entire issued share capital of the target firm.

"Motif will remain suspended from trading while the proposed transaction is negotiated and advanced, and the company will provide shareholders with further updates as appropriate," company says.

"Many of the key work streams of the proposed transaction are now substantially complete. However, as a result of additional audit work which is required for the year ended December 31, 2020, marketing is now not expected to commence until the second half of April 2021. As such, should the proposed transaction proceed, it is expected that Motif will now publish the AIM admission document in late April or early May 2021."

Current stock price: 0.50 pence

Year-to-date change: suspended

By Paul McGowan; paulmcgowan@alliancenews.com

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