Business
Placing to raise £1.25m
Placing to raise £1.25m.
About this update from Cambridge Cognition Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 1375W Cambridge Cognition Holdings PLC 25 April 2016 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL APPLICABLE SECURITIES LAWS OR REGULATIONS.\n \n25 April 2016\n \nCambridge Cognition Holdings Plc \n(\"Cambridge Cognition\" or the \"Company\")\n \nPlacing to raise £1.25 million\n \n \nCambridge Cognition Holdings plc, (AIM: COG), which specialises in development and marketing of computerised neuropsychological tests including those enabling the early detection of dementia, is pleased to announce an oversubscribed placing of 3,386,111 new ordinary shares of 1 pence each in the Company (\"Ordinary Shares\") (\"Placing Shares\") at a price of 37 pence per Placing Share (the \"Issue Price\") to raise gross proceeds of £1.25 million (the \"Placing\"). This includes 113,515 Placing Shares for which certain Directors of the Company intend to subscribe as detailed below.\n \n \nAbout the Placing\n \nThe Company intends to use the proceeds of the placing to invest in:\n \n· expanding sales infrastructure to accelerate sales growth in cash generative businesses;\n· commercialising healthcare products:\n· through Pharma Clinical Trials channel to generate near term income and validate technology;\n· through corporate partners to access growing private and occupational health markets;\n· healthcare technology innovations to address significant predictive and digital health opportunities; and\n· advancing FDA and CE approvals.\n \nMichael Lewis, Chairman; Steven Powell, Chief Executive Officer; and Nick Walters, Chief Financial Officer, intend to subscribe later today for 5,406, 40,541 and 67,568 Ordinary Shares respectively (also at a price of 37 pence per Ordinary Share).\n \n \nRelated Party Transaction\n \nThe participation of Euroblue Investments Limited as a substantia...