(Alliance News) - Ulysses Biomed Spa on Thursday announced that the shareholders' meeting approved the reverse take-over transaction involving the acquisition by UBM of its entire stake in the share capital of Hyris Limited through the contribution of shares representing 100 percent of Hyris' capital to UBM to release a special paid capital increase of UBM, excluding pre-emptive rights, reserved for Hyris' shareholders.

"The transaction aims to create a new integrated group operating in the in vitro diagnostics industry, and in particular in molecular biology, with a distinctive positioning guaranteed by the presidium of the entire industrial chain and by the technological innovation characteristics of the reagents designed and produced by UBM, on the one hand, and of Hyris' PCR instrumentation and interpretive software, on the other," as stated in the company's note.

In reference to the aucap, Ulysses Biomed recalls that a maximum of 1.8 million new ordinary shares will be issued in the ratio of 7 new shares for every 31 posed shares at a subscription price of EUR1.94 per new share.

Also on Thursday, the board of Ulisse Biomed co-opted Stefano Lo Priore and then appointed him chairman of the board. Lo Priore replaces Saverio Scelzo, who resigned today.

The countervalue will be a maximum of EUR3.5 million.

Ulysses Biomed trades in the green by 1.2 percent at EUR1.74 per share.

By Claudia Cavaliere, Alliance News reporter

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