Business
Financing Update
Financing Update.
About this update from Hvivo Plc
[{"type":"text","content":"\n \nRNS Number : 3608V Venn Life Sciences Holdings PLC 08 April 2019 \n\n8 April 2019\nVenn Life Sciences Holdings Plc\n(\"Venn\" or the \"Company\")\nFinancing Update\nVenn Life Sciences, an Integrated Drug Development Partner offering a combination of drug development expertise and clinical trial design and management to pharmaceutical, biotechnology and medical device organisations, announces that Raglan Capital Limited, of whom Cathal Friel is a principal and owner, has subscribed for loan notes of £250,000 with a term of 13 months and a 8% coupon. The interest on the notes will be paid annually. The issue of the loan notes follows the previously announced financing of 11 December 2018 albeit on improved terms for the Company i.e. at a lower coupon and without any warrants or convertibility. The proceeds of the loan note will be applied to the Company's working capital.\nRelated Party Transaction\nThe subscription by Raglan Capital is considered a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The Directors (other than Cathal Friel) consider, having consulted with Arden Partners, the Company's nominated adviser, that the terms of the subscription by Raglan Capital are fair and reasonable in so far as its Shareholders are concerned.\nEnquiries:\nVenn Life Sciences Holdings Plc Tel: +353 1 5499 341\nTony Richardson, Chief Executive Officer\nArden Partners (Nominated Advisor and Joint Broker) Tel: +44 (0)20 7614 5900\nJohn Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer \nDavy (ESM Adviser and Joint Broker) Tel: +353 (0)1 679 6363\nFergal Meegan / Matthew de Vere White (Corporate Finance)\nAbout Venn Life Sciences\nVenn Life Sciences is an Integrated Drug Development Partner offering a unique combination of drug development expertise and clinical trial design and management to pharmaceutical, biotechnology and medical device organisations. Venn have dedicated operations in France, Germany, the Netherlands, the UK, Ireland with partners across Europe and the US.\nFurther information in relation to Venn Life Sciences www.vennlifesciences.com\nVenn life Science: [email protected]\n \n\nThis information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Informa...