Inactive Instrument

INSTEM

Equities

INS

GB00B3TQCK30

Instem adjourns meeting after disclosing further approaches

October 18, 2023 at 11:58 am EDT

Instem PLC - Staffordshire, England-based provider of IT services to life sciences market - Intends to adjourn the court meeting and the general meeting relating to the Archimed offer. These were scheduled to be held on October 19 and will now take place on November 2. Decision follows the disclosure by Instem today that since August 30, when the Archimed bid was announced, the firm has received approaches from five separate parties which could have led to a competing offer. However, states all parties have now withdrawn their interest. Believes shareholders should be allowed extra time to consider their votes, hence the delay. Stresses the Archimed offer will not lapse as a result of this announcement. Reaffirms view that the Archimed offer ascribes a highly attractive valuation.

Current stock price: 730.00 pence

12-month change: down 1.4%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about INSTEM

Instem Enables Clients to Leverage ICH S1B Weight of Evidence Guideline	Jan. 25	CI
Instem Delists from London Bourse's AIM After Merger with ArchiMed	Nov. 21	MT
France's Archimed Completes Acquisition of UK's Instem	Nov. 20	MT
Instem plc Announces Board Resignations	Nov. 20	CI
ArchiMed SAS agreed completed the acquisition of Instem plc (AIM : INS) from group of sellers.	Nov. 19	CI
Instem acquisition by Ichor sanctioned by UK court	Nov. 16	AN
UK Court Clears Archimed’s Takeover of Instem	Nov. 16	MT
Actual Experience appoints administrators	Nov. 07	AN
Instem's Acquisition by Archimed's Ichor Management Granted UK Regulatory Nod	Nov. 07	MT
Instem shareholders back motions relating to Archimed offer	Nov. 03	AN
Instem, Archimed’s Ichor Management Agree Acquisition Deal Price	23-10-30	MT
Instem Postpones Court, General Meetings for Archimed Bid as New Suitors Surface	23-10-20	MT
Instem adjourns meeting after disclosing further approaches	23-10-18	AN
Instem shares fall back as Archimed says offer is final	23-10-13	AN
AIM WINNERS & LOSERS: TomCo raises funds; Instem bid "final"	23-10-13	AN
Archimed's Ichor Management Says GBP203 Million Cash Offer for Instem is Final	23-10-13	MT
Instem's second-largest shareholder opposes deal with PE firm Archimed	23-09-28	RE
Instem swings to loss in first half but posts revenue growth	23-09-15	AN
Instem plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-15	CI
Fears for the Chinese economy weigh on the FTSE 100	23-08-31
FTSE 100 Ends Higher, Helped by Hopes of US Rate Pause	23-08-30	DJ
UK Net Mortgage Approvals Fall As Interest Rates Remain High	23-08-30	DJ
FTSE 100 outperforms European peers	23-08-30	AN
AIM WINNERS & LOSERS: Instem soars on GBP200 million takeover	23-08-30	AN
Prudential outperforms; Instem jumps on takeover	23-08-30	AN

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Company Profile

Instem plc is a United Kingdom-based company that is a provider of information technology (IT) solutions to the global life sciences market. The Company operates through four segments: Study Management, Regulatory Solutions, In Silico Solutions and Clinical Trial Acceleration. Study Management Solutions offers software that enables organizations to collect, review, manage and report discovery and preclinical data. Regulatory Solutions provides software, outsourced services and consulting for managing, storing, sharing, submitting and maintaining information compliant with agency regulations. The Company's In Silico Solutions enable researchers to generate scientific insights through the identification, extraction and analysis of information. Clinical Trials Acceleration Solutions offers technology solutions and consulting services to facilitate data integration, statistics, analytics and insights for companies of any size or stage of clinical trial analysis.

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