Completion of assignment

11 Apr 2007 07:01

Tristel PLC11 April 2007 TRISTEL PLC ("TRISTEL" OR THE "COMPANY") Completion of assignment Tristel plc ("Tristel"), the AIM listed provider of infection and contaminationcontrol products, announces that it has completed a deed of assignment relatingto the transfer of various intellectual property to the Company from a thirdparty. The consideration for the intellectual property paid by the Company was anaggregate of £600,000 comprising of £300,000 in cash and 606,060 ordinary shares(the "Consideration Shares") in the Company amounting to approximately £300,000. Application has been made for the Consideration Shares to be admitted to tradingon AIM, which is expected to take place on 16 April 2007. The ConsiderationShares will rank equally with the existing ordinary shares of the Company. As announced at the Interim Results, through the acquisition of Vernagene (nowTristel Technologies) Tristel became a manufacturer of chemical solutions forthe first time, with blending and bottling of Tristel Solutions' sterilantproducts previously being outsourced. To give Tristel greater protection overits intellectual property it decided to establish a manufacturing facility inNewmarket. Production activities in Bolton have been re-located to Newmarketand Tristel has assumed the manufacture of the sterilant products from its primecontract manufacturer. It is to the transfer of the manufacturing know-how andthe termination of the manufacturing agreement that the above deed of assignmentrelates. Contacts: Tristel plc Parkgreen Communications Ltd Paul Swinney Paul McManusChief Executive Tel: 020 7479 7933Tel: 01638 721 500 Mob: 07980 541 893 Email:paul.mcmanus@parkgreenmedia.com This information is provided by RNS The company news service from the London Stock Exchange