Business
Placing, Open Offer & Loan Co
Placing, Open Offer & Loan Co.
About this update from Proteome Sciences Plc
[{"type":"text","content":"\n RNS Number : 1948N Proteome Sciences PLC 07 June 2010 \n \n\nProteome Sciences plc\n(\"Proteome Sciences\" or \"the Company\")\n \nPROPOSED PLACING AND OPEN OFFER TO RAISE UP TO £6.9 MILLION AND CONVERSION OF PART OF THE CHIEF EXECUTIVE'S LOAN \n \n· Placing to raise £4.8 million before expenses from existing and new shareholders\n· Open Offer to raise up to £2.07 million before expenses from existing Shareholders\n· Conversion of £5 million of the Chief Executive's loan\n \n \n7 June 2010 - Proteome Sciences plc (\"Proteome Sciences\") is pleased to announce that it has conditionally placed 24,050,000, new ordinary shares of 1 pence (\"New Ordinary Shares\") to raise £4.8 million before expenses with new and existing investors (the \"Placing\"). In addition, the Company is looking to raise up to a further £2.07million before expenses through an open offer of up to 10,350,000 New Ordinary Shares to existing shareholders (the \"Open Offer\"). The New Ordinary Shares are issued at 20 pence per share (the \"Placing Price\") representing a discount of approximately 28 per cent to the closing price of 27.75 pence per share on 4 June 2010.\n \nHighlights\n \nThe Placing and Open Offer are intended to:\n \n· Provide Proteome Sciences with financial resources that will see the Company through to breakeven/profitability \n· Enable capital investment in equipment for the Company's PS Biomarker Services division \n· Finance further development of MS assays for Proteome's proprietary biomarkers with TMT-SRM\n \nSummary\n \nSinger Capital Markets as broker and adviser to the Company has on behalf of the Company conditionally placed 24,050,000 million New Ordinary Shares with institutional investors at a price of 20 pence per New Ordinary Share to raise £4.8 million before expenses.\n \nIn conjunction with the Placing, the Board also announces details of the Open Offer to existing shareholders who qualify to receive it, that may raise up to a further £2.1 million through the issue of up to 10,350,000 New Ordinary Shares at 20 pence each.\n \nIn addition, the Board announces that Christopher ...