Forbes board accepts $1.76m MHT offer
With reference to MHT’s exercise of its right to match the Pharmachem offer, Forbes has now agreed to an improved agreement with MHT - with the purchase price payable by MHT for the assets increasing from approximately $1.4m to $1.76m.
The Board of Forbes Medi-Tech, which has specialized in plant sterol development under its Reducol brand, agreed this week agreed to accept the amended MHT offer .
Forbes was putting in place actions to meet contractual obligations, appoint a liquidator to finalize and wind-up its affairs, and distribute the resulting net proceeds to its shareholders.
The Canadian supplier expects net proceeds of the liquidation to be in the range of Cad $0.14 to Cdn $0.19 per share.