AVI Avisen

RNS Number:7374E
Availeon PLC
31 January 2000


Placing and Open Offer Document Posted

Availeon announces that it has today posted to shareholders its circular,
comprising listing particulars, giving details of a Placing and Open  Offer
of  43.3 million new Ordinary Shares at a price of 3p per share. The  new
Ordinary  Shares  have been placed by Ellis & Partners at  3p  per  share
subject   to  the  entitlements  of  qualifying  shareholders  to   acquire
approximately 38.8 million of such shares at 3p per share pursuant to the
proposed  1  for 4 Open Offer. The record date for the Open Offer  is  21
January  2000  and  the latest date for payment in full  and  receipt  of
application  forms  is 22 February 2000. The latest  date  for  splitting
(bona fide market claims only) is 3.00pm on 18 February 2000. Subject to
the  passing  of resolutions at the Extraordinary General Meeting  to  be
held  on 24 February 2000 approving and implementing the Placing and Open
Offer,  dealings in the new Ordinary Shares which are the subject of  the
Placing and Open Offer are expected to commence on 25 February 2000.

The  Company  has also today announced its unaudited Interim Results  for
the six months ended 30 September 1999.

END
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