hfor, I don't think there is anything to update just yet. As as per their Annual report, they're looking to conclude the transaction around Mar-Apr 2016, I'm sure should there be any update on this Ellis and Co will let us know.
"On 23 June 2015 the Company announced that it would begin exploring options to divest
entirely, or dilute its interests in its animal healthcare business. Although a significant
investment in organisational resources and R&D has been made in the Medivet business,
the Company acknowledges that it has neither the financial resources nor the know how to
fully realise the potential of the animal health business in the vast United States market.
The Company commenced activities to identify potential investors or purchasers during
July and progress is being made in the process. The transactions being pursued are a
capital raising in the U.S., leading to a dilution of the Company’s interests, or a trade sale.
Whichever process is successful, it is anticipated that a transaction will be concluded early
in the second quarter of the 2016 financial year."
MLA Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
