Client NewsBiON plc: Proposed Disposal, Conditional Placing, Posting of Circular and Notice of General Meeting
BiON (AIM: BION) announces that it has entered into an agreement (the “Disposal Agreement”) to sell BiON Ventures Sdn Bhd (“BVSB”), its main operational subsidiary, to Minnos Ventures Inc (the “Proposed Disposal”), following completion of which the Company would become an AIM Rule 15 cash shell. The Company also announces that its broker, Optiva Securities Ltd (“Optiva”), has conditionally raised £1 million before expenses via the placing of new ordinary shares (the “Proposed Placing” and, together with the Proposed Disposal, the “Proposals”). The Company has today published a circular for shareholders (the “Circular”) containing details of the Proposals and giving notice of a general meeting of shareholders (the “General Meeting”).
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