Business
Result of WRAP Retail Offer
Result of WRAP Retail Offer.
About this update from Arecor Therapeutics Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF THE LAWS OF ENGLAND AND WALES PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"UK MAR\"). UPON PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE WITHIN THE PUBLIC DOMAIN.\n \n23 July 2024\n \nArecor Therapeutics plc\n \n(\"Arecor Therapeutics\" or the \"Company\")\n \nResult of WRAP Retail Offer\n \nArecor Therapeutics plc, (AIM: AREC), the biopharmaceutical group advancing today's therapies to enable healthier lives, is pleased to confirm, further to the announcements made on 19 July 2024 in relation to the Fundraising, the result of its Retail Offer at the Issue Price of 90 pence per share. The Company announces that it has conditionally raised aggregate gross proceeds of approximately £0.16 million pursuant to the Retail Offer, in addition to the previously announced Placing and Subscription.\n \nAccordingly, the Company will issue a total of 173,768 new Ordinary Shares at the Issue Price pursuant to the Retail Offer, subject to, amongst other things, the approval of the Resolutions at the General Meeting and Admission.\n \nIn total, the Fundraising has conditionally raised gross proceeds of approximately £6.42 million for the Company, via the proposed issuance of 7,129,615 new Ordinary Shares pursuant to the Fundraise.\n \nRelated Party Transaction\nIn addition to the participation of certain directors of the Company in the Placing and Subscription (as announced on 19 July 2024), Christine Soden, a director of the Company who is deemed to be a Related Party pursuant to Rule 13 of the AIM Rules for Companies, has conditionally subscribed for 11,111 new Ordinary Shares at the Issue Price through the Retail Offer.\nJeremy Morgan, being the Director who is independent of ...