GSS and MAP agree to Commercial Terms for Merger

Key points

• GSS and MAP have agreed on the principal commercial terms of a merger
• Microba shareholders to receive 0.654 new GSS shares for each Microba share
• The merger aims to create a larger, diversified diagnostics group with expanded international presence

Full summary

Genetic Signatures Ltd (ASX: GSS) and Microba Life Sciences Ltd (ASX: MAP) have announced they have agreed on the principal commercial terms of a merger. The merger, which will be implemented through a Scheme of Arrangement, will see GSS acquire 100% of Microba. Microba shareholders will receive 0.654 new GSS shares for each Microba share, resulting in Microba shareholders holding approximately 67% of the enlarged group. The merger aims to combine complementary technologies and create a larger diagnostics group with an expanded international commercial platform, broader product portfolio, and greater financial and operational scale.

Outlook

The Boards of GSS and Microba believe the merger represents a significant strategic opportunity to establish a larger, more diversified diagnostics business with an expanded international commercial platform.