leadf
logo-loader
viewOpen Orphan PLC

Innovenn split will ‘maximise shareholder value’, says Venn CEO

Venn Life Sciences Holdings plc (LON:VENN) chief executive Tony Richardson says that separating Innovenn from its core business simplifies the firm and generates more value for shareholders.

Speaking exclusively to Proactive, Richardson says: “Spinning [Innovenn] out, we believe, will just bring much greater clarity to our core business and to Innovenn itself.”

“We believe that a separation of the two [businesses] would result in a much more optimal arrangement in terms of maximising shareholder value.”

Richardson also tells Proactive that the true value of Innovenn will now be realised and not “hidden” by the wider business, as he thinks it might have been in the past.

“We would argue that there is considerable value in [Innovenn], but we weren’t really getting recognition for it under our current corporate structure.”

Looking forward, Richardson is bullish about what the future holds for Venn.

“There’s plenty of opportunity to continue to grow the business organically and we want to crack on and do that” 

Quick facts: Open Orphan PLC

Price: 26.5 GBX

AIM:ORPH
Market: AIM
Market Cap: £176.46 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Open Orphan PLC named herein, including the promotion by the Company of Open Orphan PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Open Orphan first half: 'period of integration, restructuring and setting...

Proactive Analyst Emma Ulker talks through how Open Orphan (LON:ORPH) performed in the first half of the year.  In the six-month period to June 2020, the company focused on integration and restructuring following its acquisition of lab services and challenge studies specialist hVIVO in...

3 weeks, 4 days ago

2 min read