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MUZUHO INT'L SIGNS DEAL FOR INVESTMENT IN AUSTRALIA'S CHEMEQ.
SYDNEY, Feb 1 Asia Pulse - London-based Mizuho International Plc (MHI) and its nominees have completed due diligence and signed the final documentation for its investment of up to A$60 million (US$46.4 million) in Veterinary drugs developer Chemeq Ltd (ASX:CMQ).
The transaction is subject to the approval of Chemeq shareholders at an extraordinary general meeting expected to be held during March 2005.
It provides for Chemeq to issue $A20 million in convertible bonds to MHI and a further $A20 million to related entities of Stark Investments (Stark).
Stark was nominated as an investor by MHI on 6 January 2005.
MHI and Stark (the Investors) have committed to underwrite an additional $A20 million investment in Chemeq to the extent its June 2005 options do not generate additional capital for Chemeq.
Chemeq chairman and CEO Graham Melrose said he was looking forward to putting the capital raising proposal to Chemeq shareholders.
"We can ...
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