The Medserv Board of Directors have today announced that the Company has entered into an agreement with Regis Holdings Limited to bring the two entities together through a share for share exchange. Subject to all the required approvals, the new company shall be known as MedservRegis and will continue to be listed on the Malta Stock Exchange.
“The creation of MedservRegis is a strong response to the business environment which increasingly demands a new operating model of better collaboration across the supply chain to provide fully integrated solutions and increased value add,” said Anthony Diacono, Chairman of Medserv plc.
The transaction with Regis is expected to provide Medserv with market entry into critical growing markets and to strengthen Medserv’s equity base and liquidity position.
Regis provides logistics, equipment, procurement and specialised services to a wide range of customers, including national and international oil companies, oilfield services, drilling and mining companies as well as product and equipment manufacturers and other heavy industry-related contractors in South Africa, Mozambique, Uganda, Tanzania, and Angola, a critical growth region for Medserv.
The global reach of the new Group, MedservRegis, will span across four continents, present in 12 countries and operating from ten bases. This consolidation of two similar groups operating in two different geographical markets will strengthen the new Group’s market position and broaden its geographic footprint in strategic locations around the Mediterranean region, Middle East, Sub-Sahara Africa and South America.
The transaction is still subject to completion, including all required regulatory and shareholder approvals. Subject to the satisfaction of all conditions, completion of the transaction is expected to take place by the end of June 2021.
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