Business
Result of Open Offer
Result of Open Offer.
About this update from Ixico Plc
[{"type":"text","content":"\n RNS Number : 5214E Phytopharm PLC 22 December 2009 \n \n\nTHIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND OR TO US PERSONS. THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. THE SECURITIES DISCUSSED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT. NO PUBLIC OFFERING OF THE SECURITIES DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND.\n\n22 December 2009\nPhytopharm plc\n(\"Phytopharm\" or \"the Company\")\nThe Board of Phytopharm is pleased to announce the results of the Open Offer announced on 3 December 2009.\n\nPhytopharm announced on 3 December that it was proposing to raise approximately £24.1m, net of expenses, through an underwritten Placing and Open Offer of 252,129,042 New Ordinary Shares at a price of 10p per New Ordinary Share. The Placing and Open Offer has been fully underwritten by KBC Peel Hunt Ltd.\n\nThe Open Offer closed at 11.00am on 21 December 2009. Valid applications have been received from Qualifying Shareholders in respect of 127,797,446 shares (representing approximately 50.7 per cent. of the 252,129,042 New Ordinary Shares to be issued under the Placing and Open Offer. The remaining 124,331,596 New Ordinary Shares have been allocated to the institutional and other investors with whom they had been conditionally placed.\n\nThe key remaining steps in the process to complete the Placing and Open Offer are:\n\n* the passing of the Resolutions without amendment at the General Meeting to be held on 29 December 2009; and\n* admission of the New Ordinary Shares to trading on the London Stock Exchange's main market and to listing on the Official List of the UK Listing Authority, which is expected to become effective on 30 December 2009.\n\nFor further information contact:\nZoe...