Business
Result of Open Offer and Adjournment of GM
Result of Open Offer and Adjournment of GM.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6214D\n Scancell Holdings Plc\n 29 October 2020\n \n \n \n \n NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE \n UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, JAPAN, THE RUSSIAN FEDERATION, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION. \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU (\"MAR\"). \n \n \n 29 October 2020\n \n Scancell Holdings plc\n (\"Scancell\" or the \"Company\")\n \n \n \n Result of Open Offer and Adjournment of General Meeting \n \n Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, \n announces that the General Meeting convened for today at 10:00 a.m. at John Eccles House, Robert Robinson Avenue, Oxford Science Park, Oxford OX4 4GP has been adjourned for exactly one week and will resume at 10:00 a.m. on 5 November 2020 at the same location. \n \n \n Summary\n \n \n · \n Open Offer significantly oversubscribed, conditionally raising gross proceeds of approx. £3.0 million at an issue price of 13 pence per share\n \n \n o \n Proxy votes received ahead of the General Meeting in favour of the Resolutions relating to the Open Offer exceeded 99 per cent of proxy votes received\n \n \n · \n Proxy votes received in favour of the Resolutions relating to the proposed issue of approximately £17.9 million of New Convertible Loan Notes to the Redmile Funds to raise additional gross funds for the Company of approximately £17.9 million, while exceeding 70% of proxy votes received, had not reached the 75% threshold required to pass a special resolution \n \n \n o \n The Redmile Funds are managed by Redmile Group, LLC, which is an established and supportive US-based specialist healthcare and life sciences investment firmthat focuses on making investments globally in public and private companies...