LONDON, UK: HeiQ Plc (LSE: HEIQ) has acquired 100% of the share capital and voting rights of Life Material Technologies Limited, a materials technology company that has developed a strong portfolio of smart ingredients.
The acquisition strengthens HeiQ’s presence in the bio-based antimicrobial and textile odor control market and further diversifies and innovates its product range and capabilities.
HeiQ will initially focus on marketing HeiQ LIFE’s bio-based, botanical antimicrobial technologies, which represent a sustainable solution for controlling odor on textiles, to apparel brands. Odor control is the highest in-demand apparel functionality amongst consumers worldwide and provides environmental benefits because odor-free garment requires less washing, leading to longer life and less water consumption.
Company will issue 1,887,883 new ordinary shares to the sellers of LIFE, at a price of £1.496201 per share, which is the intraday volume-weighted average price of HeiQ shares on the London Stock Exchange in the last five trading days preceding the closing of the acquisition.
Applications will be made for the consideration shares to be admitted to the standard segment of the Official List, and to trading on the London Stock Exchange’s Main Market.
It is expected that Admission will become effective, and that dealings in the new Ordinary Shares are expected to commence, at 8.00 a.m. on 14 July 2021.
Following Admission, the total number of Ordinary Shares in issue will be 130,583,536 and the total number of voting rights will therefore be 130,583,536. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Heiq PLC share price
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9 Jul, 8:38 am GMT+1 ·Disclaimer