Tuesday 23rd December 2008 |
Text too small? |
As part of the deal, Keratec's chief science officer Rob Kelly will provide his services via his own company. After the transaction, Keratec will write off biomedical IP of about NZ$600,000 while parent Wool Equities will write of goodwill in Keratec of NZ$1.3 million.
The all-up impact is a NZ$1.9 million non-cash expense for Wool Equities of NZ$1.9 million and remaining Keratec IP still owned by the company of NZ$750,000. In turn it gets potential sales, up to a point of NZ$8 million, when the percentage of its share halves.
The company has been downsizing after the sale of its Covita and Paraco units to Crown Research Institute AgResearch. A spokesman for the company couldn't immediately be reached.
Wool Equities last traded at 26 cents on Oct. 16.
No comments yet
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained