Examples of UK Societas in a sentence
Due 16 Feb 4basebio UK Societas is a specialist life sciences group focused on therapeutic DNA for gene therapies and DNA vaccines and providing solutions for effective and safe delivery of these DNA based products to patients.
On 3 November 2020, an Extraordinary General Meeting of 4basebio AG approved a capital contribution of€4,361,795 to 4basebio UK Societas as part of a broader capitalisation process of the new group prior to spin off.
The European Public Limited- Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (2018 No. 1298) amend retained EU law on SEs to automatically convert any SEs registered in the UK on exit day to a new UK corporate form, UK Societas; the new framework retains as much of the existing SE framework as is possible.
The directors consider that the substance of the acquisition of 4basebio Limited was that it formed part of the spin out of the 4basebio AG subsidiaries to 4basebio UK Societas.
At the time of transaction 4basebio S.L.U. undertook all operating activities and held all intangible assets significant to the newly formed group, while it was anticipated that 4basebio UK Societas would be required to continue funding ongoing losses within 4basebio Limited.