London, August, 2006 — LAWFUEL – Legal News Network – O’Melveny & Myers LLP’s London office represented Mid-States Plc, a cash shell, in its proposed acquisition of Moving Sun Limited’s groundbreaking air disinfection technology and Inov8 Technologies Plc’s quality systems support.
Mid-States has agreed to acquire all of the issued shares of Moving Sun and Inov8; in consideration, Mid-States will issue 22.4 million ordinary shares comprising 29.9 percent of its issued share capital as enlarged by the acquisition. The consideration is valued at approximately £3.5 million.
The new group, which will focus on novel air disinfection technologies, has significant market potential in view of current public health concerns.
The transaction was announced on August 11, together with the proposed cancellation of the listing of Mid-States shares on the Official List and the proposed admission of Mid-States’ enlarged share capital to trading on the AIM market.
Partner Chris Ashworth led the O’Melveny team, supported by Catarina Lourenço, Andrew Carpenter, Blair Adams, Victoria Forrest, Helen Samuel, and Janice Seah.
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