TyraTech, Inc. Result of Special Meeting (3980A)
28 December 2017 - 6:00PM
UK Regulatory
TIDMTYR TIDMTYRU
RNS Number : 3980A
TyraTech, Inc.
28 December 2017
For immediate release: 28 December 2017
TYRATECH, INC.
("TyraTech" or the "Company")
Result of Special Meeting
Sale of Vamousse
TyraTech Inc. (AIM: TYR, and TYRU), the life sciences company
focused on nature-derived insect and parasite control products,
announces that at the Special Meeting which was held at 3.00 p.m.
(EST) on 27 December 2017 at the Company's principal offices, 5151
McCrimmon Parkway, Suite 275, Morrisville NC 27560 USA, the
resolution was duly passed.
As a result, the Company is pleased to announce that the sale of
its human lice products brand Vamousse(R) to Alliance Pharma PLC
(AIM: APH) ("Alliance") for an initial cash consideration of $13
million with further payments of up to $4.5 million based on the
achievement of agreed sales performance targets for Vamousse(R) in
2019 and 2020, will now proceed with immediate effect. TyraTech was
advised by Oriole Advisors on the sale.
Following the sale, TyraTech intends to focus on the
opportunities within the estimated $6 billion addressable animal
health market for control of insects and parasites, a sector in
which it already has considerable management experience and new
products in commercial stages.
-ends-
For further information:
TyraTech Inc. Tel: +1 919 415
Bruno Jactel, Chief Executive 4340
Officer Tel: +1 919 415
Erica H. Boisvert, Chief Financial 4287
Officer
www.tyratech.com
SPARK Advisory Partners Limited Tel: +44 20 3368
(Nominated Adviser) 3551
Matt Davis / Mark Brady
Allenby Capital Limited (Broker) Tel: +44 20 3328
Chris Crawford 5656
Belvedere Communications (PR) Tel: +44 20 3567
John West / Kim van Beeck 0510
This information is provided by RNS
The company news service from the London Stock Exchange
END
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