Business
Issue of Equity - Replacement
Issue of Equity - Replacement.
About this update from Valirx Plc
[{"type":"text","content":"\n RNS Number : 5740K ValiRx PLC 21 April 2010 \n \n\nThe following amendment has been made to the announcement of the issue of equity and Directors shareholdings released on 1 April 2010 at 10.06 under RNS 6058J. In the table under \"Directors' interests,\" the revised shareholdings and percentages of enlarged share capital shown were incorrect. All other details remain unchanged. The full amended text is shown below.\n \n \n \nValiRx plc\n \nIssue of Equity and Directors' shareholdings\n \n \n \nValiRx plc (the \"Company\") is pleased to announce that it has conditionally raised £500,000, before expenses, through a placing by Hybridan LLP of 142,857,143 new ordinary shares of 0.1p each (\"New Ordinary Shares\") at a price of 0.35 pence per share (the \"Placing\").\n \nBackground to and reasons for the Placing\n \nThe directors believe that additional funds are required for the further development of the business and are dependent upon raising additional equity share capital for this purpose. The proceeds of the Placing will be used to provide additional working capital. \n \nReorganisation of share capital\n \nThe Placing is conditional, inter alia, on the approval by shareholders of a proposed reorganisation of the Company's share capital, further details of which are set out in a circular which is expected to be posted to shareholders today and which will be the subject of a separate announcement. Under the proposals, each issued ordinary share of 1p will be sub-divided into one New Ordinary Share and one deferred share of 0.9p.\n \nThese proposals are subject to shareholder approval at a General Meeting of the Company to be held at 2.30 pm on 21 April 2010 at the offices of Rooks Rider Solicitors, Challoner House, 19 Clerkenwell Close, London EC1R 0RR.\n \nDirectors' interests\n \nThe following directors have participated in the Placing and have also been conditionally issued with an aggregate number of 35,714,284 New Ordinary Shares in satisfaction of amounts due to them by the Company, amounting in aggregate to £125,000, at an issue price of 0.35 pence per share.\n \n\n\n\n\n\n\n\nNew Ordinary Shares subscribed for\n\n\nNew Ordinary Shares issued re. amounts owing\n\n\nRevised holding\n\n\n% of enlarge...