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Angle acquires outstanding shares in US subsidiary

Monday, 5th November 2018
Angle said Monday it had acquired the outstanding shares in its US operating subsidiary Angle North America after reaching agreement to acquire Dr Georgi Hvichia's stake in the company.

Dr Georgi, the original inventor of the Parsortix microfluidic technology, had agreed to exchanged his shares in Angle North America for shares in Angle.

Under the terms of the deal, Angle had agreed to issue Dr Hvichia with 1m new ordinary shares at 10p each in Angle. In return Angle acquired the outstanding 303,335 shares in Angle North America (ANAI), taking its ownership in ANAI to 100%.

'We are pleased to reach agreement with Georgi Hvichia, the original inventor of the Parsortix microfluidic technology, to acquire his remaining shareholding in our US operating subsidiary in exchange for ANGLE plc shares. Dr Hvichia will remain involved through his new role as a scientific advisory board member,' said ANGLE Founder and Chief Executive, Andrew Newland.

At 8:27am: (LON:AGL) Angle PLC share price was -0.25p at 46.5p

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