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Tasnee Exercises $6 Million Inverstment Option in Dyesol

Nominates Dr. Rob McIntyre to join the Dyesol board

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Dyesol has been notified by Tasnee that it will exercise its $6 million investment option immediately in favor of Dyesol. The transaction has the prior approval of shareholders obtained at a meeting held on March 5, 2014 and will result in the issue of an additional 33,333,333 shares at $0.18 per share. As a result, Tasnee’s shareholding in Dyesol will increase to 33.50%. In addition, Tasnee has nominated Dr. Rob McIntyre to join the Dyesol board.
 
“We are very excited by our current prospects with many long-term plans and actions beginning to take effect,” said Richard Caldwell, Dyesol’s managing director. “There is a close bond of co-operation and understanding between Dyesol and Tasnee and we are very pleased that Tasnee has increased its investment. Together, we share the ambition with all of our shareholders to make this company a truly global success.”

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