Jim mellon plethora solutions latest
Jim mellon plethora solutions latest
Plethora Solutions thrown £2.1mln lifeline.
Plethora Solutions shares jump amid Mellon buy-out
Plethora Solutions (LON:PLE) shot up 155% after it was announced that Jim Mellon’s Regent Pacific, already a 29.88% stakeholder, had agreed to acquire all the company’s shares for £102.9mln.
Via a share-based offer Hong Kong listed Regent is effectively paying 12.5p per Plethora share.
Shareholders will receive around 15.7 Regent shares for each share they own.
It represents a 354% premium to Tuesday’s closing price, and significantly it represents a premium of almost 40% to the price of the company’s last share issue last August (which was 9p).
Plethora has been developing and commercialising PSD502, a treatment for premature ejaculation, and Regent says its acquisition of the company gives it a high quality asset that can serve as a key platform for its future growth.
The product is approved in Europe as a prescription treatment, and Plethora has been working towards approval in the United States by the FDA.
Regent