4basebio AG announces process for spin-off and separate stock market listing for its DNA business
Following a strategic review, 4basebio AG announced on 17 August 2020 its intention to commence a process to spin off its whole operating business, namely the Genomics and DNA manufacturing business which includes 4basebio SLU and 4basebio Ltd.
Subject to an ongoing legal and tax review, a spin-off of the business into a separate company is intended which shall have its corporate seat in the UK and be listed on the Alternative Investment Market (AIM), a submarket of the London Stock Exchange market.
4basebio AG is considering retaining a significant minority stake in the new entity and distributing the remaining shares to its existing shareholders. As part of this process, 4basebio AG will ensure the spin-off is suitably capitalised from the existing cash of 4basebio AG.
The management board of 4basebio AG would join the board of the spin-off and assume responsibility for the day to day operation of this organisation.
As a result of the planed process, 4basebio AG would in addition to its participation in the new company still hold a significant cash position. The intention is to complete this core process by 31 December 2020.
The company will continue to keep its shareholders updated during this process and questions and answers will be published also via this website.