Plethora Solutions Holdings Plc Share News (PLE)

(ShareCast News) - Plethora Solutions, which is developing a treatment for premature ejaculation, has agreed on a takeover by Hong Kong-listed Regent Pacific that values the AIM company at roughly £96m or 11.65p per share.At Regent Pacific's closing price on Monday, this valued Plethora at a level not seen since summer last year and a 29.5% to the last equity offer by Plethora of 9p per Plethora Share on 29 August 2014.Investment company Regent, which already owns a 29.88% stake and shares its chairman and chief executive with London-listed speciality pharmaceutical company, will pay each 15.7076 new Regent Pacific shares for each Plethora share, other than those owned by Regent.Following completion of the offer, Plethora shareholders other than Regent Pacific will hold approximately 65.98% of the combined group.Plethora's EU-approved premature ejaculation treatment, PSD502, is also preparing a New Drug Application to the US FDA and Regent suggested its offer "will allow the management team to focus on the successful commercialisation of PSD502 as quickly as possible"."Regent Pacific believes that Asia Pacific is likely to become a key component to the eventual marketing and distribution strategy for PSD502 and Regent Pacific's Hong Kong office will provide an excellent base from which to manage the controlled launch of the product following receipt of relevant regulatory approvals."Shares in Plethora were up 13.9% to 5.12p by 1425 GMT on Tuesday.