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“I am pleased to announce this strategically important transaction for Integumen and Modern Water. I am confident that by combining our deep science in water management with Integumen’s real-time AI technology, we will create a world-class water solutions leader. Modern Water will join Integumen’s family of integrated specialties underpinned by scientific expertise and advanced by AI. Together, we will pursue collaboration opportunities, both in aiding the fight against COVID19 and beyond, and further expand the business in the future which we believe will significantly benefit our respective stakeholders.”
Overview:
Following a successful working collaboration over the past few months with Modern Water, we felt that their technology and the ethos of the company was an extremely good fit with the Integumen vision to build a services business using deep science to provide environmental and ethical testing across a broad range of industries including healthcare, beauty, water, utilities, household and chemical. Both companies believe that merging the two businesses is a natural step and we are delighted that Modern Water are recommending our offer of £21.5m to its shareholders.
Nuts and bolts of the deal:
This is a great deal for both sides at £21.5m
Modern Water Shareholders will receive 1 New Integumen Share for every 10 Modern Water Shares, however, to reassure our shareholders, we plan to consolidate ordinary shares in the company by 10:1 following the General Meeting
This gives Modern Water Shareholders 32 per cent. of the share capital of the Enlarged Group
Clearly, the offer remains conditional until being passed by the Integumen Shareholders at the Integumen General Meeting which has been convened for 11.00 a.m. on 15 September 2020.
A circular has been sent to our shareholders today
Why the fit:
Prior to working with Modern Water, Integumen had already dipped its toe into the water (so to speak), creating a platform technology to identify fluids in real time.
Initially focusing on E.coli and funded by Enterprise Ireland and the Environmental Protection Agency we launched RAWtest, our real-time AI contamination alert system
With a timely entrance into water contamination, we teamed up to provide Modern Water with test kits which has since developed into a focus on detection of COVID-19 in wastewater
Modern Water already has a global footprint of more than 3,000 installations and hundreds of clients using their water contamination detection equipment, Microtox
By merging the two businesses we combine Modern Water’s 30 years’ experience with our production capabilities and importantly, retrofitting our AI real-time alert system into Microtox
Modern Water brings additional sites in the US, China and Japan and a strong management team with Nigel Burton joining the Board
Together we offer a truly global real-time water contamination detection solution
Who will benefit:
Right now, our combined efforts, having teame
Exactly Lunsam. The BOD are the only people who know how well negotiations have been going and the forward order book and pipeline. As PI's, you either trust the BOD, or sell up..it's simple. Trust people who have the knowledge, or believe people that have none...that's the PI's choice
You need to understand the huge upside this has for Skin moving forward. You're just basing your post on the fact that it's a premium to MWG's sp today....Yes. it's good for those holders, but also fantastic for Integumen. Sit back and watch the story unfold...
The accuracy was proven long ago...keep up people...just waiting for the final ease of use test to complete by end 1st week September...
Newvestor...the dates are out there and it's not by end of August. Do yourself a favour and research all of the news relating to your points with timelines and then you might have something vaguely worth saying...but even then, these are only really guidelines..if you can't wait a couple of weeks, I'd sell up if I were you
Only so far as this is the Government backed RTC...clues in the name yeah?
You're joking right? Push past 60p in the next few weeks? With the news that's coming in September, this will be well over 60p..
Doug..I've read your post history for the last 4 months. Shares are not for you mate. No conviction or research or understanding of how companies operate..and you're over leveraged. Nobody minds people selling...you enjoy your retirement and don't invest your hard earned if I were you
That's the best post of the day...what an idiot you must be. Please tell us what signs are not good...can't wait to hear that! Or do you actually not own any? In any case, your choice..sell at a loss now and look back in 2 weeks..that will make you feel good I'm sure...god, there are some fools on this LSE bb
Come back to the bb and people are talking about Tony Blair? What is it, w anker of the decade award? Anyway, to proper stuff...news probably in next 3 days..6 trading days left until September....sub 60p or over £1 for starters...what will it be?
It's only a very short term drop..some shares are keepers, some are traders...this is the former
Everyone's had ample warning...news due anytime and September will be plentiful...4 or 5 bag from here short term..or wait until it's a quid or so and just bag...mmm...what makes sense?
No, it's a disposal..it would say if they'd been transferred
Yes apologies...but the point is, they purchased loads at 6p and over,,obviously just over confidence or maybe 'in the know ' and it just hasn't worked out...they're not the only ones who got spiked
3rd and 5th July..another 400 million at over 6p...they've been royally spanked by the looks of it
7th July...they purchased over 200 million at over 6p....
The Higgs were still buying buying 4 or 5 weeks ago...they've certainly sold some at a loss