regent pacific results28 Mar 2017 17:53
Hi this is an extract from RP's results statement thought it might be of interest.
After the further subscription of GBP 1 million (or approximately US$1.45 million) in Diabetic
Boot, the Company notes that, on 6 October 2016, Alternative Investment Market (“AIM”) listed
Life Science Developments Limited (“LIFE”) (LON:LIFE) announced that it had signed a non-
binding term sheet to acquire Diabetic Boot for new shares in LIFE without any specific valuation
being revealed. No further announcement has been made by LIFE and the Company understands that
the acquisition remains subject, inter alia, to the completion of due diligence, documentation and
compliance with all regulatory requirements, including the AIM Rules and that there is no guarantee
that all such matters can or will be completed. The Company further notes that the acquisition would,
if completed, amount to: (i) a connected or related party transaction of LIFE, given the cross interests
of James Mellon; as well as: (ii) a reverse takeover of LIFE under the AIM Rules. Should a binding
offer for Diabetic Boot materialise, the Company will assess the merits of the transaction at that time,
together with any HK Listing Rules implications it may have in accepting or participating in such
transaction.