Business
First Day of Dealings
First Day of Dealings.
About this update from Agronomics Limited
[{"type":"text","content":"\n \nRNS Number : 2894O Port Erin Biopharma Investments Ltd 15 September 2011 \n \n\n15 September 2011\nPort Erin Biopharma Investments Limited\n(\"Port Erin\" or the \"Company\")\nAdmission to AIM & first day of dealing\nPort Erin, a company focused on investing in the biotechnology and biopharmaceutical sectors, is pleased to announce the admission today of its ordinary shares to trading on the AIM market of the London Stock Exchange (\"Admission\") and the commencement of dealings in the ordinary shares under ticker symbol PEBI.\nHIGHLIGHTS\n \n· Successfully raised £3m via a placing at 10p per ordinary share.\n \n· Experienced Board with strong investment expertise.\n \n· Focused on investing in companies that have the potential to generate substantial revenues through the development of biopharmaceutical drugs.\n \nThe Company has raised £3,000,000 before expenses via a placing at 10p per share. The placing comprises the issue of 30 million new ordinary shares and the grant of 30 million warrants exercisable at 12.5p per ordinary share to subscribers of the placing shares. The ordinary shares being offered pursuant to the placing will represent 90.9 percent of the enlarged share capital of the Company.\n \nThe Company's Non-Executive Chairman is Jim Mellon, who has had a successful career in the fund management industry. During the past two years, Mr Mellon has invested widely in the biopharma industry. The Company intends to co-invest wherever possible alongside Mr Mellon in investments that he has identified.\n \nTom Winnifrith is a Director and Chief Investment Officer of the Company. He is the founder and CEO of PLUS quoted Rivington Street Holdings Plc. Tom established the t1ps Investment Management operation as part of the Rivington Group in September 2007 and is the senior Fund Manager at t1ps Investment Management.\n \nNicholas Woolard, Non-Executive Director, started his career with the international division of Barclays Bank and enjoyed thirty years with the company during which he saw service in three offshore financial services centres, as well as stints in London's West End and the City.\n \nLibertas Capital Corporate Finance Limited is Nominated Adviser to the Company and Riving...