Business
Result of the Open Offer and PDMR Shareholdings
Result of the Open Offer and PDMR Shareholdings.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2630N Scancell Holdings Plc 08 May 2018 \n\n8 May 2018\n \nScancell Holdings plc\n(\"Scancell\" or the \"Company\")\n \nResult of the Open Offer\nand\nPDMR shareholdings\n \nScancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer, announced on 18 April 2018 the details of a Placing and Subscription pursuant to which it had conditionally raised, in aggregate, approximately £7.5 million, before expenses, by way of the placing of 57,411,001 Placing Shares and subscription of 4,999,999 Subscription Shares at the issue price of 12 pence per share. Also the Company announced that it was providing Qualifying Shareholders with an opportunity to subscribe at the issue price of 12 pence per share, for up to 16,666,667 Open Offer Shares to raise gross proceeds of up to £2.0 million by way of the Open Offer. The Placing and Subscription completed on 20 April 2018 upon admission of the Placing Shares and Subscription Shares to trading on AIM.\n \nThe Company has received valid acceptances in respect of 10,142,838 Open Offer Shares representing 60.9 per cent. of the maximum Open Offer Shares available. All applications made pursuant to the Open Offer including the Excess Shares applied for under the Excess Application Facility have been met in full.\n \nThe Company has therefore conditionally raised gross proceeds of approximately £1.2 million through the Open Offer and gross proceeds of approximately £8.7 million in total through the Open Offer and the Placing and Subscription combined. The Open Offer is conditional upon, inter alia, Second Admission becoming effective and the obligations under the Placing and Open Offer Agreement not having been terminated in accordance with its terms.\n \nDr Cliff Holloway, Chief Executive Officer of Scancell, commented:\n \n\"We would like to take this opportunity to once again thank our shareholders, both existing and new, for their continued support. The monies raised will enable us to progress the next phase of clinical development of our innovative cancer treatments.\"\n \nPDMR shareholdings and related party transaction\n \nCertain Directors have subscribed for Open Offer Shares at the Issue Price. As at 4 May 2018 (being the latest practicable business date prior to the publication of t...