Business
Share Subscription and Issue of Equity to Vulpes
Share Subscription and Issue of Equity to Vulpes.
About this update from Scancell Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 0325C Scancell Holdings Plc 13 June 2019 \n\nTHE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN. \n \n13 June 2019\n \nScancell Holdings plc\n(\"Scancell\" or the \"Company\")\n \nScancell Announces Share Subscription and Issue of Equity to Vulpes Life Sciences Fund\n \nTotal Voting Rights\n \nScancell, the developer of novel immunotherapies for the treatment of cancer, today announces that it has raised gross proceeds of £3,877,965.55 by the issue of 77,559,311 new ordinary shares (\"Subscription Shares\") at a price of 5 pence per share (the \"Subscription\") to Vulpes Life Sciences Fund (\"Vulpes\") under existing shareholder authorities.\n \nApplication will be made to London Stock Exchange to admit the Subscription Shares to trading on AIM (\"Admission\"). The Subscription is conditional on Admission and it is expected that Admission will become effective and that dealings in the Subscription Shares will commence at 8.00 a.m. on or around 17 June 2019. The Subscription Shares will rank pari passu with the existing ordinary shares of nominal value 0.1 pence each in the capital of the Company (the \"Ordinary Shares\").\n \nFollowing Admission, Vulpes will have an interest in approximately 16.67 per cent. of the enlarged share capital of Scancell. In addition and subject to Admission and approval by the Board of Directors of Scancell (the \"Board\"), it is proposed that Martin Diggle of Vulpes is appointed to the Board as a Non-Executive Director.\n \nVulpes Investment Management was founded in 2011 by Stephen and Martin Diggle and is designed to enable outside co-investment in a range of strategies that seek to produce real capital appreciation and income by concentrating on a small number of compelling investment opportunities. Vulpes Investment Management established the Vulpes Life Sciences Fund in 2012.\n \nDr John Chiplin, Chairman of Scancell, said:\n \n\"We warmly welcome Vulpes as a shareholder and look forward to working with Martin Diggle. His extensive experience of investment manag...