Business
Results of Broker Option
Results of Broker Option.
About this update from Genedrive Plc
[{"type":"text","content":"\n \n \n RNS Number : 5604M\n Genedrive PLC\n 12 May 2020\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 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 \n \n \n \n \n \n \n \n \n 12 May 2020\n \n \n genedrive plc\n \n \n (\"genedrive\" or the \"Company\")\n \n \n \n \n Results of Broker Option\n \n genedrive plc (AIM: GDR), the near patient molecular diagnostics company, confirms that, further to the announcement on 5 May 2020, the Broker Option has now closed. The Broker Option was oversubscribed, will be exercised in full and will raise a total of £1 million for the Company (before expenses). \n \n The Bookrunners had regard for soft pre-emption rights of existing shareholders in respect of the proportion of Broker Option Shares received relative to their existing holdings as were confirmed by their stockbrokers, however, due to the issue being oversubscribed by Shareholders alone, allocations have been scaled back. Therefore, being an existing shareholder in genedrive will not guarantee a full pro-rata entitlement or any allocation of Broker Option Shares.\n \n The Bookrunners expect to notify stockbrokers of the number of Broker Option Shares they have been allocated later today by way of contract notes. Stockbrokers who have placed an order will receive a single allocation, and are in turn responsible for apportioning their allocation to their underlying clients and for confirming whether the shares should be EIS or VCT qualifying, any allocation being subject to the relevant limit of eligible shares.\...