Business
Results of Placing and Subscription
Results of Placing and Subscription.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \nRNS Number : 3951G NetScientific PLC 26 May 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, REPUBLIC OF IRELAND, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR ANY ORDINARY SHARES OR OTHER SECURITIES OF THE COMPANY AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER. ORDINARY SHARES OR OTHER SECURITIES OF THE COMPANY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OF AMERICA ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION AND THE ORDINARY SHARES DESCRIBED HEREIN WILL BE SOLD IN ACCORDANCE WITH ALL APPLICABLE LAWS AND REGULATIONS.\n26 May 2017\n \nNetScientific plc\nResults of Placing and Subscription\nNetScientific plc (AIM:NSCI) (the \"Company\"), the transatlantic healthcare IP commercialisation Group, is pleased to announce the completion of commitments under the Placing and Subscription announced on 25 May 2017 to raise a total of £8.1 million in new funds.\nCommitments have been obtained to subscribe for a total of 14,083,332 Placing Shares and 3,833,330 Subscription Shares from existing and new institutional and other investors at an issue price of 45.0 pence per new Ordinary Share (the \"Issue Price\") to raise a total of £8.1 million for the Company (before expenses). The Placing Shares and Subscription Shares together represent approximately 35.1 per cent. of the issued ordinary share capital of the Company prior to the Placing and Subscription. The Issue Price represents a discount of 15.1 per cent. to the Company's mid-market closing price as at 24 May 2017, being the last practicable day before the announcement of the Placing and Subscription.\nThe net proceeds of the Placing and Subscription are principally to continue the acceleration of the development of the Company's actively managed portfolio companies, and advance these toward commercialisation and potential exit opportunities. NetScientific's actively managed portfo...