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CORD blood bank Cordlife Group on Monday acquired 2,700,000 shares in the share capital of StemLife Berhad, paying an aggregate cash consideration of RM1.22 million (S$404,007) at 0.45 ringgit per StemLife share.
As a result, Cordlife's stake in StemLife has increased from approximately 48.94 per cent to about 50.03 per cent. Upon settlement of the acquisition, StemLife will become a subsidiary of Cordlife.
The acquisition is not expected to have any material impact on the net assets per share or earnings per share of the company for the current financial year ending June 30, 2016.