Rex Bionics shareholders agree to watered down stake to secure Australian lifeline

Tue, 23 May 2017

By Paul McBeth May 23 (BusinessDesk) - Rex Bionics investors have backed a deal that will see their investment diluted to little more than a third of the company in exchange for a A$10 million lifeline by Australian fund manager and fellow shareholder BioScience Managers. At a meeting in London on Monday, Rex shareholders voted in favour of a deal that would pour the company's business and assets into its Australian subsidiary, Rex Pty, which would then sell A$7.5 million of shares to BioScience, lifting the fund manager's stake to 64 pe...

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