Cilo Cybin shareholders to vote on R845m acquisition

Cilo Cybin Holdings Limited shareholders will vote on September 10 on acquiring all shares in Cilo Cybin Pharmaceutical Proprietary Limited for R845 million, to be settled through issuing Cilo Cybin shares.

The acquisition constitutes a related party transaction and reverse takeover requiring shareholder approval. The company also proposes amending its constitution to facilitate transfer to the Main Board and issuing 5.8 million settlement shares to loan account holders.

Shareholders voting against the deal can exercise redemption rights to be bought out at a redemption price.