Lifeline Scientific leaves AIM due to merger with Shanghai Genext

The merger of Lifeline Scientific with Shanghai Genext Medical Technology and certain of its affiliates dated September 1, 2016, is expected to close on December 8, 2016.

Lifeline said it was expected that cancellation of the admission of LSI’s common stock to trading on the AIM market of the London Stock Exchange will occur with effect from 7:00 am (UK time) on 9 December 2016.

Reasons for the Cancellation

According to Lifeline, the Merger and the Cancellation (conditional upon the closing of the Merger) were both approved at a special meeting of the Company’s stockholders on October 6, 2016. As required by the AIM Rules for Companies, in accordance with AIM Rule 41 the Cancellation was approved by at least 75% of the votes cast by holders of LSI common stock voting in person or by proxy at the special meeting and its preferred cancellation date must be informed to the exchange at least 20 business days prior to such date. Accordingly, the Exchange has been informed of the Cancellation Date.

Following the Merger, Lifeline will become a wholly-owned subsidiary of GLS Holdings, LP (Holdco), an affiliate of the Shanghai Genext, that is also party to the Merger Agreement, thereby ceasing to have any public stockholders.

Effect of the Cancellation

The last day of dealing in LSI’s common stock prior to their cancellation from AIM and the last day for registration of transfers of LSI’s common stock will be the date of the effective time of the Merger, expected to be 8 December 2016 (the “Merger Date”). No transfers of LSI’s common stock will be registered after that time and date.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s