Payment from Integumen plc

RNS Number : 4595C

Gunsynd PLC

13 April 2017

 

Gunsynd plc

("Gunsynd", or the "Company")

Payment from Integumen plc

On 26 February 2014, the Company (then called Evocutis plc) announced that it was, subject to shareholder approval, disposing of certain intellectual property assets to Venn Life Sciences plc (the "Purchaser") (the "Disposal").  As part of the terms of the Disposal, the Company was entitled to receive additional potential consideration based on future net sales made by the Purchaser. 

Subsequently, on 20 February 2015, the Purchaser sold the intellectual property assets the subject of the Disposal to Innovenn, which is a subsidiary of Integumen plc ("Integumen"), which was admitted to trading on AIM on 5 April 2017.  Integumen has agreed to pay £3,000 and has also issued 300,000 new ordinary shares in Integumen to the Company at a price of 5 pence per new ordinary share, in full and final settlement of any rights to additional consideration.

The directors of Gunsynd accept responsibility for this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Gunsynd plc:
Hamish Harris	[phone]
Nominated Adviser / NEX Exchange Corporate Adviser:
Cairn Financial Advisers LLP
James Caithie/Liam Murray	[phone]
Joint Broker:
Peterhouse Corporate Finance
Lucy Williams	[phone]

 

END

 

 

MSCFMGMDLFLGNZG