Business
Placing of new ordinary shares to raise £50,000
Placing of new ordinary shares to raise £50,000.
About this update from Provexis Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6571P\n Provexis PLC\n 19 February 2021\n \n \n \n \n Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.\n \n \n 19 February 2021\n \n Provexis plc\n \n \n ('Provexis' or the 'Company')\n \n \n \n \n Placing of new ordinary shares to raise £50,000\n \n \n \n \n Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce it has raised a gross £50,000 via a placing (the 'Placing'), conditional on admission to trading on AIM, of 6,666,667 new ordinary shares of 0.1p each (the 'New Provexis Shares').\n \n The New Provexis Shares will be issued at a price of 0.75p per share (the 'Placing Price'), and rank pari passu in all respects with the existing ordinary shares of 0.1p each in Provexis. No commissions or expenses will be payable on the issue of the New Provexis Shares.\n \n The Placing Price represents a discount of 7.4 per cent. to the closing mid-market price per Ordinary Share on 18 February 2021, being the latest practicable date prior to this announcement.\n \n Director participation in the Placing\n A director intends to participate in the Placing for, in aggregate, 1,666,667 New Provexis Shares representing £12,500 at the Placing Price. This intention is not legally binding and the subscription by a director will be announced in a separate announcement. The contents of this announcement assume that the subscription by the director proceeds in full.\n \n A further announcement is expected to be made shortly.\n \n \n Ian Ford, CEO of Provexis, commented:\n \n \n 'The Board is pleased to announce this £50,000 placing.\n \n \n \n \n \n In December 2020 the Company conducted a £1.0 million placing, and the £1.05 million funds raised from the December placing and the further placing announced today will be used to provide the Company with additional working capital over the coming year\n to support its international growth plans; a new production run for the Company's Fruitflow+ Omega-3 dietary supplem...