Further to the Company's announcement on 22 March 2021, Instem plc (AIM: INS), a leading provider of IT solutions to the global life sciences market, is pleased to confirm that the acquisition of d-Wise Technologies, Inc. ("d-wise") legally completed on 1 April 2021.
In connection with the Acquisition, application has been made to the London Stock Exchange for the admission of the 868,203 Initial Consideration Shares to AIM ("Admission"). It is expected that Admission will occur and that dealings will commence at 8.00 a.m. on or around 14 April 2021. The Initial Consideration Shares will rank pari passu with the existing ordinary shares in the Company.
Under the terms of the Acquisition, the Initial Consideration Shares will be credited to DWT Holdings, Inc. ("DWTH", a holding Company created for the purpose of receiving the shares pursuant to the Acquisition). DWTH will, in due course, transfer the Initial Consideration Shares to the two d-wise founding shareholders and 16 further employees.