Brief: Medinice Signs Conditional Deal To Sell Stake In Medi Ventures

Medinice SA

08/12/2021 06:36

Dec 8 (Reuters) - Medinice SA  ICEP.WA :
    * SAID ON TUESDAY THAT IT HAS SIGNED A DEAL WITH US-BASED
INVESTMENT FUND ON SALE OF ALL OF ITS SHARES IN MEDI VENTURES
    * MEDI VENTURES IS CARRYING OUT GRANT PROJECT CALLED FUNDUSZ
MEDIALFA
    * PRICE OF SHARES UNDER DEAL IS 980,000 ZLOTYS AND IT WILL
BE PAID
IN TWO TRANCHES
    * DEAL IS CONDITIONAL ON APPROVAL FROM POLISH NATIONAL R&D
CENTRE
AND SIGNING OF AN ANNEX TO INCREASE THE NUMBER OF INVESTMENTS
UNDER THE PROJECT FROM CURRENT 13 TO 25 
    * IF COMPANY DOES NOT RECEIVE THE SAID APPROVAL, THE PRICE
OF MEDI
VENTURES SHARES WILL BE DECREASED TO 490,000 ZLOTYS
    * SALE OF STAKE IS DUE TO MANAGEMENT'S DECISION TO INCREASE
FOCUS
ON KEY PROJECTS

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM29cvpqa
 Further company coverage:  ICEP.WA  

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