Business
Results of General Meeting & Open Offer
Results of General Meeting & Open Offer.
About this update from Eden Research Plc
[{"type":"text","content":"\n \n \n RNS Number : 6308G\n Eden Research plc\n 18 March 2020\n \n \n \n \n 18 March 2020\n \n \n Eden Research Plc\n \n \n (\"Eden\" or \"Company\")\n \n \n Results of General Meeting & Open Offer \n \n \n \n Eden Research plc (AIM: EDEN), the AIM-quoted company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that at the General Meeting held earlier today, all resolutions proposed were duly passed by shareholders. Details of the votes cast by proxy will be published on the Company's website shortly.\n \n \n Furthermore, the Open Offer closed for acceptances at 11.00 a.m. on 17 March 2020 with final valid applications from Qualifying Shareholders in respect of 4,817,558 Open Offer Shares including 1,475,496 applications under the Excess Application Facility, representing a take-up of approximately 58.13 per cent. of the Open Offer Shares.\n \n \n Accordingly, the Company will raise a total of approximately £10.4 million (before expenses) through the Placing, Subscription and Open Offer through the \n issue and allotment of 173,150,892 new Ordinary Shares. An application has been made for the 86,182,500 EIS/VCT Placing Shares to be admitted to trading on AIM, which is expected to take place at 8.00 a.m. on 19 March 2020. A further application has been made for the 86,968,392 Ordinary Shares being the General Placing Shares, the Subscription Shares and the Open Offer Shares to be admitted to trading on AIM, which is expected to take place at 8.00 a.m. on 20 March 2020.\n \n \n The Company expects to apply the net proceeds of the Fundraise to advance the development, registration and commercialisation of new key product categories, including new insecticide formulations and seed treatments. The Company also plans to continue developing the use of Sustaine\n ä\n , one of the only viable, proven solutions to the microplastics problem in formulations requiring encapsulation, for a broader range of products. \n \n \n Following Admission, the Company's issued share capital will comprise 380,340,229 Ordinary Shares, of which none are held in treasury. The above figure of 380,340,229 may be used by shareholders as the denominator for the calculation...