With DeepVerge’s recommended all share Offer (‘the Offer’) for Modern Water plc (‘Modern Water’, AIM:MWG) having being declared unconditional on 3 November 2020, new DeepVerge shares representing c.77.5% of Modern Water were yesterday Admitted to trading.
The Merger, which was originally announced on 28 August 2020 along with a 10:1 consolidation (effective 15 September 2020) of the then Integumen plc’s equity, was followed by the Group’s official renaming on 6 October 2020. The shares of both companies have staged a dramatic revaluation since their first cooperation, which came in the form of a revenue-sharing and manufacturing agreement that was announced on 18 March 2020.
Subsequent and particularly timely initiatives, developed with a series of collaborative partners in response to the coronavirus Pandemic, have served to highlight the potential for value creation through the combining of their skillsets, technologies and international reach, along with management teams that are ‘switched on’ to the prospectively huge long-term opportunities being presented through the ongoing health crisis.
Having already demonstrated an ability to leapfrog giant corporations with their development of user-friendly, real-time COVID-19 detection and alert systems and thereby identify products that appear set to become embedded within the daily routine of global populations desperate to return to some sort of ‘normality’, DeepVerge’s ability to adequately service the overwhelming international demand it prospectively faces may become the most significant challenge going forward as it seeks to satisfy what has potential to become an exceptionally rewarding, high-margin opportunity.
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