Amrad halts buyback during Avexa spin-out
Thursday, 01 July, 2004
Amrad (ASX:AML) has halted its share buy-back program while it readies itself to spin out its anti-infectives program.
The process will allow the company to calculate the entitlements of shareholders so that shares can be distributed into the new company, Avexa, during the demerger. Amrad shareholders will receive shares in Avexa on a pro rata basis according to their holdings in Amrad on the record date for the offer.
The Amrad share buy-back program will continue once the record date has passed, the company said.
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