Business
Completion of Placing & Subscription
Completion of Placing & Subscription.
About this update from Eden Research Plc
[{"type":"text","content":"\n \nRNS Number : 6695J Eden Research plc 30 June 2017 \n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.\n \nEden Research Plc\n(\"Eden\" or \"Company\")\n \nCompletion of Placing & Subscription to raise c.£2.4m\n \nInvestment by strategic commercial partner and institutional placing\n \nEden Research plc (AIM: EDEN), the AIM-listed company that provides breakthrough biocontrol products and natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces that, further to the announcement earlier today, it has raised c.£2.4 million, before expenses, through a subscription (the \"Subscription\") for 20,494,330 new ordinary shares of 1p each in the Company (\"Ordinary Shares\") (the \"Subscription Shares\") and an institutional placing (the \"Placing\") of 1,915,888 new Ordinary Shares (the \"Placing Shares\") both at a price of 10.7 pence each.\n \nSipcam SpA (\"Sipcam\"), Eden's commercialisation partner in a growing list of countries, subscribed for the Subscription Shares which represent c.9.9 per cent. of the enlarged share capital. \n \nThe Company has also received a non-binding indication from an existing institutional investor for £300,000 of Ordinary Shares at the Placing Price (the \"Additional VCT Placing\"). The Additional VCT Placing is anticipated completing (subject to contract and relevant regulation) once the Company receives clearance from HMRC that the Company's business will qualify for the relevant tax reliefs in connection with the Additional VCT Placing. The Company will submit an application for clearance to HMRC shortly and it is anticipated by the Company that such clearance will be granted, should it be granted, within 2 - 3 months. Even if such clearance is granted, there can be no certainty that the Additional VCT Placing will occur. The Company will make further announcements as is appropriate.\n \nSean S...