Medicamen Biotech Ltd has entered into the following Agreements:
- Vide an agreement dated 16.09.2019, acquisition of the entire (100%) Equity Share Capital of OPAL Pharmaceuticals Pty Ltd (a company incorporated in Australia, hereinafter referred to as 'OPAL') (the 'Target Company') from its existing shareholders for a consideration aggregating up to (AU) $ 420,000. On completion of all the closing formalities, the Target Company will become a 100% Subsidiary of the Company.
- Subsequently, vide an agreement dated 17.09.2019, disposal/sale of 25% Equity Share Capital of OPAL held by the Company to Baxyran Healthcare Private Limited (the 'Buyer') for a consideration of Rs. 51,53,400/- Only . Therefore, post the aforesaid transfer, OPAL shall cease to be Company's WOS and the Company will become holder of 75% Equity Share Capital in the said subsidiary.
Shares of MEDICAMEN BIOTECH LTD. was last trading in BSE at Rs.369.65 as compared to the previous close of Rs. 368.65. The total number of shares traded during the day was 2289 in over 34 trades.
The stock hit an intraday high of Rs. 378.9 and intraday low of 350.25. The net turnover during the day was Rs. 830995.