Key Developments: Metabolic Explorer SA (METEX.PA)

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Latest Key Developments (Source: Significant Developments)

Metabolic Explorer signs exclusive license agreement with SK Chemicals for PDO
Tuesday, 1 Jul 2014 01:00pm EDT 

Metabolic Explorer SA:Signs exclusive license agreement with SK Chemicals Co. Ltd. for production and commercialization of PDO (1.3-propanediol) based on company's proprietary technology.Technology enables to produce PDO through crude glycerine fermentation.Company to provide SK Chemicals with all support needed for industrialization of technology and global commercialization of PDO.SK Chemicals is thus to be enabled investment in production and commercialization of PDO.  Full Article

Metabolic Explorer updates on agreement with Roquette concerning L-Methionine
Friday, 4 Apr 2014 01:00pm EDT 

Metabolic Explorer SA:Says Roquette has chosen not to proceed with industrialization of biosourced L-Methionine.L-Methionine is amino acid used in feed for poultry and pigs.Metabolic Explorer and Roquette have ended their prior agreements and signed new agreement concerning L-Methionine.Financial terms of agreement are confidential.New agreement ends Roquette's exclusive licensing rights.Under new agreement Metabolic Explorer has all intellectual property rights.Metabolic Explorer is now responsible for applying technology with third parties, with help from Roquette.Discussions on industrial partnerships started by Roquette will be continued by Metabolic Explorer.  Full Article

Metabolic Explorer SA Sets Up Standby Equity Facility (PACEO) With Societe Generale
Wednesday, 12 Jun 2013 01:00am EDT 

Metabolic Explorer SA announced that it has set up a Standby Equity Facility (PACEO) with Societe Generale in accordance with the authorization granted by the general meeting held on June 14, 2012. This Standby Equity Facility will enable, if needed, to reinforce the financial flexibility in order to support the acceleration of the development projects of Metabolic Explorer SA. Societe Generale undertook to subscribe successive capital increases over the next 24 months, in tranches of up to 500,000 shares (i.e. 2.25% of the current capital) and up to 2,000,000 shares in aggregate (i.e. 9% of the current share capital). The shares will be issued at a 5% discount to the volume weighted average price of the shares for the three trading days immediately preceding the relevant issue date. When issued, the shares are not intended to be kept by Societe Generale, which aims at selling them in the market.  Full Article

Metabolic Explorer SA Updates on New Factory in Malaysia
Friday, 15 Mar 2013 02:00am EDT 

Metabolic Explorer SA and Malaysian Bio-XCell (Bio-XCell), the developer of the Bio-XCell biotechnology park and ecosystem in the Iskandar region of Malaysia, informed that they have reviewed progress on the plan to build a PDO plant and that are pressing ahead with plans to opening it. The partners have reached agreement on the principles of a new organisation structure for engineering, notably by replacing the present engineering company, and stated that they will adjust the contractual framework before end of May 2013, in order to resume operations by September 2013. The partners have also reached an agreement on the findings of the on-site analyses, which show that only minor corrective measures are needed and will not affect the schedule for resuming operations. Finally, the partners have defined the different types of acceptable guarantee to be given, which, under the new agreement, will not affect Metabolic Explorer SA's cash position.  Full Article

Metabolic Explorer SA Cuts 35 Jobs
Thursday, 6 Dec 2012 01:00am EST 

Metabolic Explorer SA announced that it is cutting 35 jobs as part of its restructuring program.  Full Article

Metabolic Explorer SA Announces Information On Reorganization Project
Sunday, 7 Oct 2012 01:00pm EDT 

Metabolic Explorer SA announced that it is initiating a reorganization project in order to cope with the new economic situation and the change in market conditions since the beginning of the year. The Committee and the Management Company met on November 6, 2012, to obtain the opinion of Company on the proposed reorganization contemplated. For the record, the Company had decided at the last meeting, to be assisted by an expert to comment on the economic reasons behind the proposed reorganization. This meeting is scheduled to expire in late November 2012.  Full Article

Metabolic Explorer SA Updates on New Factory in Malaysia
Friday, 5 Oct 2012 01:08pm EDT 

Metabolic Explorer SA and Malaysian Bio-XCell (Bio-XCell), the developer of the Bio-XCell biotechnology park and ecosystem in the Iskandar region of Malaysia, announced an update on the solution adopted to pursue construction of the Metabolic Explorer plant. Bio-XCell's decision to modify the technical approach to soil conditioning, which is necessary to resume construction of the plant, has affected the construction schedule. As a consequence, Metabolic Explorer and Bio-XCell have agreed to pursue their cooperation under a re-negotiated contractual framework. Accordingly, the two partners have signed an agreement allowing for a maximum of seven months to establish the technical and contractual measures needed to enable the project to proceed properly. In addition to signing the agreement to suspend the contract, Bio-XCell has released the RM 23.2 million (EUR 5.5 million) bank form of guarantee to Metabolic Explorer. In return, Metabolic Explorer has committed to providing a new guarantee, at the end of the seven-month period, that does not draw on available cash.  Full Article

Metabolic Explorer SA Updates on New Factory in Malaysia; Sales Deals for Texerol
Thursday, 20 Sep 2012 01:00pm EDT 

Metabolic Explorer SA announced that the completion of its new factory in Malaysia will be delayed by more than six months due to the fact that work on the ground which the owner of the site, Bio-XCell, was contracted to do has not been completed according to schedule. As a result of this delay the Company intends to renegotiate elements of its contract with Bio-XCell. The Company also announced that it has signed two agreements in principle for the sale of Texerol to PTT producers. The requirements of these producers are in excess of half the production capacity of the new factory in Malaysia. The financial terms of the contracts were not disclosed.  Full Article

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