Seed Co is seeking shareholder approval to implement the proposed strategic technical-equity partnership with Vilmorin & Cle, a NYSE Euronext Paris Stock Exchange listed company which is a world leader in vegetable seeds and top player in field seeds.
Accompanied by its reference shareholder, Limagrain, an international agriculture co-operative group, Vilmorin & Cle is currently the fourth largest seed company in the world.
In order to consummate this proposed transaction, Seed Co would be looking to:
1. Issue for cash up to 37,662,481 new ordinary shares to Vilmorin & Cle.
2. Enter into collaborative agreements with Vilmorin and Cle, including.
· A research and collaboration agreement
· A Germplasm exchange agreement
· Technical assistance agreements
· Technology licence agreements
· Purchase agreements
· Production/commercialisation agreement
· Lease agreements
Allocate board seats to Vilmorin & Cle pro rata their shareholdings post the proposed placement i.e. 2 seats on conclusion of Tranche I and another seat on conclusion of Tranche II.
- businessdaily
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