Business
Placing to raise £8.1 Million
Placing to raise £8.1 Million.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \nRNS Number : 8415P Oxford Biomedica PLC 23 February 2016 \n\n \n \n \n \nTHIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT\n \nOxford BioMedica announces a proposed placing to raise £8.1 Million\n \nOxford, UK - 23 February 2016: Oxford BioMedica plc (\"Oxford BioMedica\" or the \"Company\", together with its subsidiaries, the \"Group\") (LSE: OXB) is pleased to announce that it intends to raise £8.1 million pursuant to a placing of 128,383,528 new ordinary shares (the \"Placing Shares\") in the Company at a price of 6.3 pence per Placing Share (the \"Offer Price\") with both new and existing investors together with the Directors (the \"Placing\").\n \nHighlights\n \n· 128,383,528 Placing Shares to be issued on a non pre-emptive basis utilising existing shareholder authorities.\n \n· The Offer Price of 6.3 pence per Placing Share represents a 10.0 per cent. discount to the closing price of 7.0 pence per ordinary share in the Company on 22 February 2016 (being the last trading day prior to the date of this announcement).\n \n· The principal purpose of the Placing is to provide adequate working capital for the Group to continue to fund its investment in the Group's product development pipeline and in the development of lentiviral vector manufacturing-related technology to enable it to take advantage of a number of important catalysts expected during 2016.\n \nJohn Dawson, Chief Executive Officer of Oxford BioMedica, said: \n\"Oxford BioMedica is increasingly recognised as a world-leading gene and cell therapy company with a pipeline of high value potential product candidates; outstanding capabilities in lentiviral vector technology and manufacturing; and extensive intellectual property; which together have led to important commercial relationships with major companies such as Sanofi, Novartis and GlaxoSmithKline.\n \n\"The funds raised as a result of this Placing w...