Business
Conditional Fundraising
Conditional Fundraising.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n \nRNS Number : 4488K Angle PLC 15 July 2011 \n \n\n \n\n\n\n\nFor immediate release \n\n\n15 July 2011\n\n\n\n\n \nANGLE plc \n(\"ANGLE\" or the \"Company\")\n \nConditional Fundraising\n \nANGLE plc, which focuses on the commercialisation of technology and the development of technology-based industry, is pleased to announce that it has successfully completed a conditional fundraising of up to £1.25 million (the \"Fundraising\"), approximately £1.2 million net of costs. Investors will acquire up to 5,020,000 new ordinary shares of 10p per share in the Company (the \"Fundraising Shares\") at a price of 25 pence per share representing a discount of 11.5% on the mid price of 28.25 pence per share at close of business on 14 July 2011. \n \nThe proceeds of the Fundraising will be used to strengthen the Company's balance sheet, help meet corporate overheads during the next 12 months and allow the Company to progress its medical diagnostic company Parsortix. \n \nThe Fundraising Shares will represent approximately 14.2% of the enlarged issued share capital of the Company and will rank pari passu in all respects with ANGLE's existing ordinary shares, including the right to receive and retain all dividends and other distributions declared, made or paid after admission of the Fundraising Shares to trading on AIM (\"Admission\"). The number of ANGLE ordinary shares in issue following Admission of the Fundraising Shares will be 35,457,279. \n \nThe Fundraising included both a direct subscription to the Company and a placing of new ordinary shares of 10p each in the Company (the \"Placing\") and was supported both by existing shareholders and new investors. Options to subscribe for 200,000 new ordinary shares of 10p per share in the Company at an exercise price of 25 pence per option, representing 0.6% of the enlarged issued share capital of the Company have also been granted as part consideration in respect of the Placing.\n \nAs announced on 5 May 2011, ANGLE has been working with Parsortix seeking to demonstrate that its cell separation device has the capability to isolate cancer cells in blood. As further announced on 28 June, initial experiments have been successful in capturing cultured breast cancer cells that had been added to healthy ...