Cash injection on track to exploit demand19 Dec 2023 09:06
TMT acquisitions announce in RNS this morning that it's takeover/merger with Belluscura is imminent giving BELL immediate access to almost £5m cash to exploit big increase in demand. Quote:
The Offer adds a significant injection of working capital into Belluscura, enabling it to capitalise on its burgeoning opportunity in a fast-growing global market. The Offer also enhances Belluscura's ability to leverage its position as a provider of innovative oxygen enrichment technology. Given the introduction and significant pre-launch demand expressed for Belluscura's DISCOV-R product, building on top of the continued sales progress of the X-PLOR, the directors of Belluscura and the directors of TMT Acquisition believe the Offer has compelling strategic logic which significantly increases Belluscura's ability to execute on its burgeoning sales pipeline and strategy, whilst creating considerable potential value for all shareholders of both TMT Acquisition and Belluscura. The Company is pleased to confirm it is in receipt of irrevocable undertakings and a letter of intent to accept the Offer from TMT Acquisition Shareholders holding, in aggregate, 16,805,418 TMT Acquisition Shares (representing approximately 61.11% of the issued share capital of TMTA). As announced on 28 November, it is anticipated that it will shortly post the Offer Document to TMT Acquisition Shareholders.