Lifeline Scientific sets December date for delisting

Clinical transplantation products supplier Lifeline Scientific announced on Thursday that the merger provided for in the agreement and plan of merger entered into with Shanghai Genext Medical Technology Co on 1 September, is expected to close on 8 December.

The AIM-traded firm said as a result, it is expected that cancellation of the admission of its common stock to trading on the AIM market will occur from 0700 GMT on 9 December.

It said the merger and the cancellation were both approved at a special meeting of the company's stockholders on 6 October.

Following the merger, the Company will become a wholly-owned subsidiary of GLS Holdings, an affiliate of the purchaser that is also party to the merger agreement, and as such will not have any public stockholders.

“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 board said in a statement.

“No transfers of LSI's common stock will be registered after that time and date.”