The Board of Directors of 4basebio AG (XTRA:4BSB) announced the spin-off of unknown majority stake in Genomics and DNA manufacturing business on August 17, 2020. A spin-off of Genomics and DNA manufacturing business into a separate company is intended which shall have its corporate seat in the UK and be listed on the Alternative Investment Market. 4basebio AG is considering retaining a significant minority stake in the new entity and distributing the remaining shares to its existing shareholders. As part of this process, 4basebio AG will ensure the spin-off is suitably capitalized from the existing cash of 4basebio AG. The management board of 4basebio AG would join the Board of the spin-off and assume responsibility for the day to day operation of this organization. As a result of the planed process, 4basebio AG would in addition to its participation in the new company still hold a significant cash position. The deal is subject to an ongoing legal and tax review. On November 3, 2020, the shareholders of 4basebio AG approved the transaction. The intention is to complete this core process by December 31, 2020. 4basebio AG (XTRA:4BSB) completed the spin-off of Genomics and DNA manufacturing business on December 8, 2020. The shareholders will receive 6 shares in newly formed entity for each share in 4basebio AG.