Business
Proposed Placing and Broker Option
Proposed Placing and Broker Option.
About this update from Genedrive Plc
[{"type":"text","content":"\n \n \n RNS Number : 9508L\n Genedrive PLC\n 05 May 2020\n \n \n \n \n The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this Announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA\n \n \n OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n \n \n \n \n \n \n \n THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) DOES NOT CONSTITUTE AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR (OR THE SOLICITATION OF AN OFFER TO BUY, ACQUIRE OR SUBSCRIBE FOR) ORDINARY SHARES TO ANY PERSON WITH A REGISTERED ADDRESS IN, LOCATED IN, OR WHO IS A RESIDENT OF, THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.\n \n \n \n \n \n 5 May 2020\n \n \n \n \n \n genedrive plc\n \n \n (\"genedrive\" or the \"Company\")\n \n \n \n \n Proposed Placing to raise £7 million, Proposed Broker Option to raise up to £1 million\n \n genedrive plc (AIM: GDR), the near patient molecular diagnostics company, today announces its intention to raise £7 million, before expenses, by way of a conditional placing (the \"Placing\") with existing and new institutional investors through the issue of 8,750,000 new ordinary shares (\"Placing Shares\") at a price of 80 pence per Placing Share (the \"Placing Price\").\n \n The Company also announces a proposal to raise up to a further £1 million by way of a broker option through the issue of up to 1,250,000 additional new Ordinary Shares (the \"Broker Option Shares\" and, together with the Placing Shares, the \"New Ordinary Shares\") at the Placing Price in order to enable smaller shareholders in the Company and other retail and institutional investors to participate in the Fundraising (the \"Broker Option\" and, togeth...