Business
Results of Open Offer
Results of Open Offer.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \n29 March 2010\n\n Scancell Holdings Plc \n\n (the \"Company\") \n\n Results of Open Offer \n\nScancell Holdings Plc, (PLUS:SCLP), the developer of therapeutic cancer\nvaccines, is pleased to report the results of the Open Offer that was announced\non 5 March 2010.\n\nUnder the Open Offer, a total of 5,137,775 New Ordinary Shares will be issued\nat a price of 45 pence per New Ordinary Share to raise approximately £2.31\nmillion, before expenses, to fund the working capital requirements of the\nCompany.\n\nResults of the Open Offer\n\n * Existing shareholders have subscribed for 3,770,248 New Ordinary Shares,\n representing approximately 73.38 per cent. of the total number of New\n Ordinary Shares to be issued;\n \n * Helium Special Situations Fund Limited, a new institutional investor, has\n subscribed for 1,034,194 New Ordinary Shares, representing approximately\n 20.13 per cent. of the total number of New Ordinary Shares to be issued;\n and\n \n * 333,333 New Ordinary Shares have been placed with private investors,\n representing approximately 6.49 per cent. of the total number of New\n Ordinary Shares to be issued.\n \nAdmission and commencement of dealings in the New Ordinary Shares to be issued\nunder the Open Offer are expected to take place at 8.00 a.m. on 30 March 2010.\nThere will be a total of 15,413,326 ordinary shares in issue following\nAdmission of the New Ordinary Shares.\n\nDirectors' dealings\n\nThe Company has been notified of the following dealings:\n\nMr David Evans, non-executive chairman, has subscribed for 250,000 New Ordinary\nShares at 45p per share under the Open Offer. After Admission of the New\nOrdinary Shares the total holding of David Evans in the Company will amount to\n510,000 ordinary shares (representing approximately 3.31 per cent. of the\nenlarged issued share capital).\n\nMr Michael Rippon, non-executive director, has subscribed for 55,000 New\nOrdinary Shares at 45p per share under the Open Offer. After Admission of the\nNew Ordinary Shares the total holding of Michael Rippon in the Company will\namount to 250,416 ordinary shares (representing approximately 1.62 per cent. of\nthe enlarged issued share capital).\n\nMr Matthew Frohn, non-executive director, is also a director of Oxford\nTechnology Management Limited which is the manager for the Oxford Technology\nVCT plc and the Oxford T...