15 Mar 2011 16:24
15 March 2011
PuriCore plc
Potential Sale of Endoscopy Division
MALVERN, PENNSYLVANIA, AND STAFFORD, UK, 15 March 2011- PuriCore (LSE: PURI), the water-based clean technology company, announces that following a strategic review it has agreed heads of terms with a potential buyer on an exclusive basis for the sale of the Company's Endoscopy division for a total cash consideration of approximately $17 million. Contracts are expected to be signed early in the second quarter of this year with completion expected as soon as practicable after the Company has obtained shareholder approval.
It is emphasised, however, that the sale remains subject to further negotiation, due diligence and the signing of definitive sale documentation. Accordingly, there is no certainty that the sale will be concluded on the terms currently negotiated (in particular including the consideration), if at all.
The Company will make a further announcement in due course.
Enquiries:
Financial Dynamics Susan Quigley Ben Brewerton +44 (0) 20 7831 3113 | PuriCore Chris Wightman Executive Chairman +44 (0) 20 7290 3440 |
About PuriCore
PuriCore plc (LSE: PURI) is a water-based clean technology company focused on developing and commercialising proprietary green solutions that safely, effectively, and naturally kill infectious pathogens without causing harm to human health or the environment. PuriCore's patented, proprietary technology mimics the human body's production of the natural antimicrobial hypochlorous acid, offering a safe and non-hazardous approach to disinfection and sanitisation. The Company's products are used in a broad range of markets that depend upon controlling contamination, including food retail and foodservice, medical device disinfection, and wound care. Hypochlorous acid is proven to be safe, environmentally friendly, and fast acting against a broad range of infectious pathogens, including major public health threats of C.difficile, E.coli, HIV, Human and Animal Influenza (including H1N1 and H5N1), Legionella, MRSA, M.tuberculosis, Norovirus, and Salmonella. PuriCore is headquartered in Malvern, Pennsylvania, with operations in Stafford and Clevedon, UK. To receive additional information on PuriCore, please visit our website at www.puricore.com, which does not form part of this press release.
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.