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Placing
Placing.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n Angle PLC\n06 March 2006\n\n\nFor Immediate Release 6 March 2006\n\n\n\n\n ANGLE plc\n\n\n ('ANGLE' or 'the Company')\n\n\n Placing of up to 10,205,288 new Ordinary Shares at 79 pence per share\n\n to raise up to £8.1 million\n\n\nANGLE plc, the venture management and consulting company specialising in the\ncommercialisation of technology is pleased to announce a conditional Placing of\nup to 10,205,288 new Ordinary Shares at 79 pence per share to raise up to £8.1\nmillion before expenses.\n\n\nKey Points\n\n\n • The issue of the Placing Shares, assuming maximum subscription, represents\n an increase of approximately 61 per cent. in the issued share capital of the\n Company. The Placing Shares, assuming the maximum number of Placing Shares\n are issued, will represent approximately 37.6 per cent. of the enlarged\n share capital following the fund raising;\n\n\n • Application will be made to the London Stock Exchange for the Placing\n Shares to be admitted to trading on AIM. Subject to First Admission, it is\n expected that dealings in the First Placing Shares will commence on or\n around 30 March 2006. Subject to Second Admission, it is expected that\n dealings in the Second Placing Shares will commence on or around 31 March\n 2006;\n\n\n • The Placing is subject to, inter alia, the approval of Shareholders. An\n Extraordinary General Meeting has been convened for 29 March 2006;\n\n\n • The Placing Price of 79p represents a discount of approximately 5.4 per\n cent. to the closing middle market price of an Ordinary Share on 3 March\n 2006;\n\n\n • The net proceeds of the Placing (approximately £7.4 million) will be\n utilised to develop the existing Progeny(R) company portfolio and establish\n new Progeny(R) companies from the pipeline of opportunities under\n development;\n\n\n • The Placing will be in two tranches to protect the Company's VCT and EIS\n status;\n\n\n • Collins Stewart is acting as the Company's nominated adviser and broker.\n Mulier Capital has also been engaged to assist with the fundraising;\n\n\n • Mulier Capital is taking a 2.23% stake in ANGLE through participating in\n the Placing on its own account, subscribing for 605,749 Placing Shares at\n the Placing Price; and\n\n\n • In addition, Mulier Capital will apply part of its commission to acquire a\n further 0.74% stake of the enlarg...