there is it - rns16 Sep 2020 08:07
Demerger of StemPrintER and Distribution in Specie
Proposed capital reduction and notice of General Meeting
Tiziana Life Sciences Plc (LSE: TILS, NASDAQ: TLSA) a biotechnology company focussed on innovative therapeutics for oncology, inflammation and infectious diseases, today announces that, following a strategic review of its clinical trial programs and core focus, it intends to demerge its StemPrintER and SPARE genomics-based personalised medicine business into a separate and independent listed company, Accustem Sciences Limited. The proposed demerger, which requires a court-approved reduction of capital to be completed, will allow Accustem to continue the commercialisation efforts of the StemPrintER platform technology as a separate listed company with cash reserves of approximately £1.0 million.
The proposed timetable for the demerger is as follows:
11:00 a.m. on 2 October 2020 General Meeting to approve the demerger
14 October 2020 First Court Hearing in respect of capital reduction
27 October 2020 Second Court Hearing to approve capital reduction
29 October 2020 Capital reduction becomes effective
7:00 a.m. on 30 October 2020 Demerger Record Time
30 October 2020 Ex-dividend date
30 October 2020 Effective Date of the demerger