Business
Placing to raise £2.3m; Notice of General Meeting
Placing to raise £2.3m; Notice of General Meeting.
About this update from Fortis Frontier Plc
[{"type":"text","content":"\n \nRNS Number : 3578V Concepta PLC 08 April 2019 \n\nRelease: 7:00AM, Monday 8 April 2019\nConcepta PLC \n(\"Concepta\" or the \"Company\") \nPlacing to raise £2,302,500; Notice of General Meeting\nConcepta PLC (AIM: CPT), the pioneering UK healthcare company and developer of the proprietary myLotus product targeting the personalised mobile health market with a primary focus on women's fertility and hormone health, is pleased to announce it has conditionally raised £2,302,500, before expenses, through a placing and subscription of 76,750,000 new Ordinary Shares of 2.5p par value (the \"Placing Shares\") at a price of 3 pence per Placing Share (the \"Placing\").\nThe Placing Shares represent 40.78 % percent of the existing issued share capital and 28.97% of the enlarged issued share capital.\n50,000,000 of the Placing Shares, were placed by the Company's Placing Agent, Novum Securities Limited (\"Novum\") under the terms of a placing agreement (\"Placing Agreement\"). 26,750,000 of the Placing Shares were subscribed direct with the Company. The placing price of 3p represents a discount of 13 per cent. to the closing mid-market share price of 3.45p on 5 April 2019, the last business day prior to the issue of this announcement\nThe Placing is subject to the requisite shareholder approval and, accordingly, the issue of the Placing Shares is conditional on, inter alia, the passing of certain resolutions by the Company's shareholders at a duly convened general meeting of the Company.\nAs such, the Board is seeking the authority to allot and issue the Placing Shares.\n \nThe Placing\nThe Placing is conditional upon, inter alia:\n· the Resolutions (as defined below) being duly passed at the General Meeting by 25 April 2019, and Admission becoming effective on or before 8.00 a.m. on 26 April 2019 or such later time and/or date as the Company and Novum may agree, but in any event by no later than 8.00 a.m. on 3 May 2019; and\n \n· the Placing Agreement having become unconditional in all respects and not having been terminated.\nThe Placing is not being underwritten.\nThe Placing Shares will be allotted on 25 April 2019, with Admission expected on 26 April 2019.\n \nUse of proceeds\nFollowing the regulatory approval and successful recent launch of myLotus, th...