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AquaBounty Directors Not Selling Shares

Lucy Towers
07 December 2012, at 12:00am

US - AquaBounty Technologies confirms that Intrexon Corporation, a privately held biotechnology company, has made an offer to purchase the outstanding 52.44 per cent of AquaBounty shares not owned by them for a price of $0.123 per share.

Whilst the Board of AquaBounty is not making a recommendation to shareholders, Richard Clothier, Chairman, and Richard Huber, non executive director, do not intend to sell their shares to Intrexon as they believe that the Companys future interests are best served by continuing to be a publicly traded company. No other Directors hold shares.

Additionally, the Directors continue to believe that, were FDA approval to be received, the market potential for AquAdvantage Salmon and other AquaBounty products could be substantial.