Business
Placing of New Ordinary Shares
Placing of New Ordinary Shares.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n14 April 2010\n\n Scancell Holdings Plc \n\n (the \"Company\") \n\n Placing of New Ordinary Shares \n\nScancell Holdings Plc, (PLUS:SCLP), the developer of therapeutic cancer\nvaccines, is pleased to announce it has raised £207,000 (before expenses) by\nway of a placing of 460,000 New Ordinary Shares of 0.1p each (`Placing Shares')\nat a price of 45p (the `Placing') with the Aspire Fund. The net proceeds of the\nPlacing, together with the proceeds of the Open Offer that was completed on 29\nMarch 2010, will be used to fund the working capital requirements of the\nCompany to take its lead melanoma vaccine, SC1B1, through Phase I and Phase IIa\nClinical Trials.\n\nAdmission and commencement of dealings in the New Ordinary Shares to be issued\nunder the Placing are expected to take place at 8.00 a.m. on 15 April 2010.\nThere will be a total of 15,873,326 Ordinary Shares in issue following\nAdmission of the Placing Shares.\n\nDavid Evans, Chairman of Scancell Holdings plc, commented:\n\n\"Following the recent successful fundraising, I am delighted that the Aspire\nFund has now also decided to become a significant shareholder in Scancell. The\ninvestment represents further recognition of the work of our CEO Lindy Durrant\nin the development of SC1B1.\"\n\nMelanie Perkins, Lead Manager of the Aspire Fund said:\n\n\"This investment is extremely exciting and we are thrilled to have the\nopportunity to support such a vital enterprise that may have the opportunity to\nsave so many lives. The Aspire Fund seeks to support and encourage female\nentrepreneurship and Scancell is an excellent example of women leading the way\nin diverse and important fields of work.\"\n\nThe Directors of the issuer accept responsibility for this announcement.\n\n -ENDS- \n\nFor Further Information:\n\nDavid Evans, Chairman Scancell Holdings Plc + 44 774 008 4452 \n \nProfessor Lindy Durrant, CEO Scancell Holdings Plc + 44 207 245 1100 \n \nKirsty Corcoran/John Bick Hansard Communications + 44 207 245 1100 \n \nRoss Andrews / Tom Rowley Zeus Capital + 44 161 831 1512 \n\nAbout the Aspire Fund (www.capitalforenterprise.gov.uk)\n\nEstablished in November 2008, the £12.5m Aspire Fund targets support for\nwomen-led businesses with an objective to increase the number of successful\nfemale entrepreneurs within the UK, ensuring that those with real potential to\...