Business
Issue of Equity
Issue of Equity.
About this update from Genedrive Plc
[{"type":"text","content":"\n EpiStem Holdings plc\n20 November 2007\n\nFor release: 20th November 2007\n\n Placing Announcement\n\nEpistem Holdings Plc (the 'Company'), the biotechnology company which\ncommercialises adult stem cells in the areas of oncology and gastrointestinal\ndiseases, announced today that it has raised £1,065,703.78 by a placing of\n653,806 Ordinary Shares of £0.015 each at an issue price of £1.63 per share, the\nmid market price at the time the placing was agreed.\n\nThe Company will use the proceeds of this placing to accelerate the development\nof its high sensitivity gene expression biomarker technology. The biomarker\nplatform analyses changes in gene expression from RNA extracted from cells\nlocated at the base of a single human plucked hair. Epistem has developed the\nbiomarker platform to identify drug-induced changes in gene expression for\napplication in preclinical and clinical drug development.\n\nThe shares issued pursuant to the Placing were placed on 15th November 2007 with\nthe following existing shareholders of the Company:\n\n306,903 Ordinary Shares with Calculus Capital Limited;\n\n306,903 Ordinary Shares with Helium Special Situations Fund; and\n\n40,000 Ordinary Shares with New Star Asset Management.\n\nThe Company confirms that it has sufficient authorised but unissued share\ncapital to effect the Placing and that the directors have been granted the\nnecessary authority by the shareholders under section 80 of the Companies Act\n1985 and that the statutory pre-emption rights under section 89 of the Companies\nAct 1985 have been disapplied in relation to the Placing Shares. The Placing\nShares will rank pari passu with the existing ordinary shares of £0.015 in the\ncapital of the Company. The Placing has been arranged by Landsbanki Securities\n(UK) Limited.\n\nAs a result of the Placing, the issued share capital of the Company will\nincrease to 7,191,883 Ordinary Shares of £0.015 each.\n\nThe above figure of 7,191,883 Ordinary Shares may be used by shareholders in the\nCompany as the denominator for the calculations by which they will determine if\nthey are required to notify their interest in, or a change in their interest in,\nthe share capital of the Company under the FSA's Disclosure and Transparency\nRules.\n\nApplication has been made for, and the Placing is conditional upon, admission of\nthe 653,806 ...