Business
Placing, proposed acquisition and notice of GM
Placing, proposed acquisition and notice of GM.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \nRNS Number : 2298V Venture Life Group PLC 20 July 2018 \n\n \nTHIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT. \n \n \nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \n \nVenture Life Group plc\n(\"Venture Life\" or \"the Company\" or \"the Group\")\n \nProposed placing of up to 46,875,000 new Ordinary Shares at 40 pence per share\nto raise approximately £18.75 million (before expenses)\n \nProposed acquisition of the Dentyl Business\n \nProposed repayment of Convertible Bonds and Biokosmes Vendor Loan Notes\n \nNotice of General Meeting\n \nVenture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the self-care market, is pleased to announce the conditional placing of up to 46,875,000 new Ordinary Shares at a price of 40 pence per Ordinary Share (\"the Placing\") to raise approximately £18.75 million (before expenses), the proposed acquisition of the Dentyl Dual action mouthwash and BB Mints Business for £4.2 million payable in cash (the \"Acquisition\") and the proposed repayment of the Convertible Bonds and Biokosmes Vendor Loan Notes for approximately £3.7 million in aggregate. The balance of the net Placing proceeds will be used to support the continued growth of the business and to explore potential strategic acquisition opportunities. The Placing has been arranged by Cenkos Securities plc in its capacity as sole bookrunner. \n \nHighlights\n· Proposed placing, significantly oversubscribed, to raise up to £18.75 million (before expenses) through the issue of up to 46,875,000 new Ordinary Shares at the Placing price of 40 pence per new Ordinary Share\n· &n...