ResApp shares placed in trading halt pending update to market on Pfizer takeover offer
Danielle Le Messurier
The West Australian
Tue, 31 May 2022 9:36AM
ResApp Health managing director and chief executive Tony Keating.
ResApp Health shares have been placed in a trading halt pending an update to the market on Pfizer Australia’s $100 million takeover offer of the digital health company.
ResApp has been awaiting an independent expert’s valuation report ahead of an expected shareholder vote next month on Pfizer’s bid to buy the WA-founded firm for 11.5¢ per share.
The trading halt could mean the valuation of ResApp has come back higher than Pfizer’s assessment, giving ResApp’s board and Pfizer time to reconsider the offer.
The board of ResApp, led by Tony Keating, previously said they would endorse Pfizer’s offer subject to the independent report.
Using microphones in smartphones and machine-learning algorithms, ResApp’s software can listen to and identify respiratory diseases by recording coughing sounds.
ResApp shares last traded at 11¢.
ResApp has asked the ASX to maintain the trading halt until June 2.
RAP Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
