ACCESS Newswire
22 May 2020, 21:55 GMT+10
CYPRUS / ACCESSWIRE / May 22, 2020 / Exelixi Investment Public Company, a public company trading on the Cyprus Main Board Exchange and London Stock Exchange (Cyprus Stock Exchange Symbol EXIN)(LSE:0EE0), United Kingdom (the 'Company') and Digital Access Pass Pte. Ltd. (the 'Buyer Entity'), an advanced digital technology company incorporated in Singapore, have entered into a memorandum of understanding (the 'Memorandum of Understanding'), under which, the Company (or its nominee) and the Buyer Entity will negotiate in good faith to enter into a definitive binding agreement (the 'Formal Agreement') to acquire (the 'Proposed Acquisition') the controlling equity share capital in the company (the 'Target Company').
The Memorandum of Understanding is exclusive and confidential and is legally binding and irrevocable. Further terms of the Formal Agreement have yet to be determined and finalized and part of the payment consideration may involve issue of new securities of the Company to the Buyer Entity.
Until the earlier of the execution of the Formal Agreement on or before June 30, 2020, the Company agrees to enter into exclusive negotiation with the Buyer Entity regarding the Proposed Acquisition. If the Formal Agreement cannot be entered into by the expiry of such period, the Memorandum of Understanding shall be terminated.
It is expected that the Proposed Acquisition, if finalized, may constitute a notifiable transaction and change of Symbol of the Company under the Listing Rules in Cyprus Public Stock Exchange and London Stock Exchange, United Kingdom. Further announcement will be made by the Company when the Company enters into the Formal Agreement or the Company decides to terminate if applicable to the Memorandum of Understanding or there is any material development on the Proposed Acquisition.
Contact Information
Investor Relations
929 600-2646
[email protected]
SOURCE: EXELIXI INVESTMENT PUBLIC LTD
Get a daily dose of Boston Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Boston Star.
More InformationNEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
(Photo credit: Rafael Suanes-Imagn Images) Trevor Story and Ceddanne Rafaela each homered to help the visiting Boston Red Sox complete...
(Photo credit: Rafael Suanes-Imagn Images) Trevor Story and Ceddanne Rafaela each homered to help the visiting Boston Red Sox complete...
(Photo credit: Bruce Kluckhohn-Imagn Images) The Washington Wizards completed a three-team trade on Sunday, acquiring guard CJ McCollum,...
(Photo credit: Jayne Kamin-Oncea-Imagn Images) League rebounding leader Angel Reese of the Chicago Sky and assists leader Alyssa...
(Photo credit: Gary A. Vasquez-Imagn Images) The visiting Boston Red Sox will look for more of the same from their offense Sunday...