Business
Result of Placing and Issue Price
Result of Placing and Issue Price.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \nRNS Number : 0745U Faron Pharmaceuticals Oy 26 March 2019 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \nFaron Pharmaceuticals Oy\n(\"Faron\" or the \"Company\")\n \nResult of Placing and Issue Price\n \nCapitalised terms used in this announcement have the meanings given to them in the announcement made earlier today regarding the proposed placing and subscription (the \"Fundraise Announcement\"), unless the context provides otherwise.\n \nTURKU - FINLAND, 26 March 2019 - Faron Pharmaceuticals Oy (\"Faron\") (AIM: FARN), the clinical stage biopharmaceutical company, is pleased to announce that further to the Fundraise Announcement earlier today, the Bookbuild is now closed and the Placing will comprise the issue of up to 864,164 Placing Shares at an Issue Price of 60.0 pence per share. This is in addition to the issue of up to 3,584,461 Subscription Shares to be issued at an equivalent Euro Issue Price of 70.2 cents per share. \n \nSubject to the Placing and Subscription being subscribed for in full and all conditions being met, the aggregate gross proceeds of the Placing and Subscription will be up to €3.12 million (£2.67 million) before expenses.\n \nAs set out in the Fundraise Announcement, the Placing and Subscription remain subject to, inter alia, legally binding commitments being received (\"Placee Condition\") and the Placing Shares and the Subscription Shares being issued and being registered at the Finnish Trade Registry. A further announcement will be made when the Placee Condition has been met, expected to be on 28 March 2019. \n \nExchange rate\nUnless otherwise specified, this announcement contains certain translations of Euros into amounts in Pounds Sterling for the convenience of the reader based on the exchange rate of £1.00 = €1.17, being the published exchange rate by the Bank of England at the close of business on 25 March 2019 (the latest practicable date prior to the date of this announcement) rounded to 2 decimal places.\n \nTh...