Opyl Limited's Divestment Announcement

Opyl Limited (ASX: $OPL) has entered into a binding sale and purchase agreement to divest Opin to Trial Screen Pty Ltd, subject to shareholder approval. The divestment will see Opyl retaining a 20% share of Opin through Trial Screen, with Dr Hugo Stephenson committing to invest approximately $1.2 million into the business over the next year. This strategic move is aimed at refining Opyl's portfolio and focusing resources on high-growth ventures.

Executive Commentary on Divestment

This divestment marks a significant step for Opyl as we continue to streamline our operations and concentrate on driving growth for TrialKey.ai. Dr Stephenson's commitment to invest in Opin demonstrates confidence in the business and its potential for expansion. We are dedicated to delivering value for our shareholders and stakeholders through strategic initiatives such as this divestment and the ongoing development of our TrialKey.ai platform.

Summary of Opyl's Divestment Announcement

Opyl Limited (ASX: $OPL) has finalized a binding sale and purchase agreement to divest Opin, subject to shareholder approval. The divestment will enable Opyl to retain a 20% share of Opin through Trial Screen, with Dr Hugo Stephenson committing to invest approximately $1.2 million into the business over the next year. This move is expected to improve Opyl's cash burn by approximately $700k per annum, extending its operational runway and allowing a more focused approach towards advancing TrialKey.ai. Shareholders will soon receive a Notice of Meeting and an Explanatory Memorandum containing full details of the proposed Opin transaction and next steps.