Placing
March 05 2010 - 5:17AM
UK Regulatory
TIDMHML
RNS Number : 1489I
Henderson Morley PLC
05 March 2010
5 March 2010
HENDERSON MORLEY PLC
("Henderson Morley" or the "Company")
(AIM: HML)
PLACING
Henderson Morley plc, the Aim quoted biotechnology company, announces that it
has raised GBP444,597 before expenses, via a placing ('the Placing') by
Rivington Street Corporate Finance to institutional and other investors of
246,998,333 million New Ordinary Shares of 0.125 pence in the Company at a price
of 0.18 pence per share.
Andrew Knight and Dr Ian Pardoe, Directors of the Company, have each undertaken
to subscribe GBP60,000 and GBP40,000 for 33,333,333 and 22,222,222 New Ordinary
Shares respectively as part of the Placing. The Directors, other than Messrs
Knight and Pardoe, having consulted with the Company's nominated adviser, Brewin
Dolphin, believe that the terms of this transaction are fair and reasonable
insofar as shareholders are concerned.
The funds raised through the Placing will be used for working capital whilst
further pre sale due diligence continues on the ICVT platform and whilst the
Company works towards its stated strategy of becoming a pure play vaccine
company by 2011.
The Placing is conditional on the admission of the New Ordinary Shares to
trading on AIM. 224,776,111 New Ordinary Shares have today been allotted, and
application has been made for these shares to be admitted to AIM. Trading in the
new shares is expected to commence on 10 March 2010. It is expected that the
further 22,222,222 New Ordinary Shares (11,111,111 to Mr. A Knight and
11,111,111 to Dr I Pardoe) will be allotted by 20 April 2010, at which time a
further announcement will be made.
Following Admission of the 224,776,111 shares allotted today, Mr. A Knight and
Dr I Pardoe will own 159,640,986 and 110,338,862 shares respectively,
representing 11.57% and 8.00% respectively of the Company's enlarged issued
share capital of 1,379,498,574 shares in issue.
-END-
Enquires
HENDERSON MORLEY PLC
0121 442 4600
Andrew Knight, Chairman
RIVINGTON STREET CORPORATE FINANCE 0207
562 3380
Dru Edmonstone
BREWIN DOLPHIN INVESTMENT BANKING 0113
241 0126
Neil Baldwin
BISHOPSGATECOMMUNICATIONS LTD
0207 562 3350
Maxine Barnes
Gemma O'Hara
This information is provided by RNS
The company news service from the London Stock Exchange
END
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