TIDMINS
RNS Number : 8993P
Instem plc
23 February 2016
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH
AFRICA, JAPAN OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A
VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY NEW ORDINARY SHARES, NOR SHALL IT (OR ANY PART OF IT), OR
THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN
CONNECTION WITH, OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY
CONTRACT OR COMMITMENT WHATSOEVER WITH RESPECT TO THE PLACING.
Instem plc
("Instem", the "Company" or the "Group")
Result of General Meeting, Director Dealings and Total Voting
Rights
Instem plc (AIM: INS), a leading provider of IT solutions to the
global early development healthcare market, announced on 3 February
2016 the Fundraising, subject to Shareholder approval, by way of a
placing. The gross proceeds of the Fundraising will be GBP5
million.
Result of General Meeting
The Board is pleased to announce that at the General Meeting
held earlier today, all Resolutions proposed were duly passed.
The Placing remains conditional on Admission becoming effective
on or before 8.00 a.m. on 24 February 2016 (or such later time and
/ or date, being no later than 8.00 a.m. on 24 March 2016, as the
Company and N+1 Singer may agree). Application has been made for
the 2,500,000 New Ordinary Shares to be admitted to trading on AIM,
with Admission expected to become effective at 8.00 a.m. tomorrow,
24 February 2016.
Directors' shareholdings
As part of the Placing, Mike McGoun, Non-Executive Director of
the Company purchased 22,500 Ordinary Shares at the Placing Price.
Following Admission Mike McGoun shall own 36,786 Ordinary Shares,
representing 0.2% of the Company's voting rights.
Also as part of the Placing, the trustees of the DG 2008
Discretionary Settlement (of which David Gare (the Company
chairman) and his wife are the trustees) and David Sherwin
(Non-Executive Director) agreed to sell 600,000 and 200,000
Existing Ordinary Shares, respectively, at the Placing Price.
Following Admission, the DG 2008 Discretionary Settlement shall own
1,418,427 Ordinary Shares, representing 9.1% of the Company's
voting rights and David Sherwin shall own 1,380,066 Ordinary
Shares, representing 8.9% of the Company's voting rights.
Total voting rights
On Admission, the Company will have 15,550,217 Ordinary Shares
in issue and there are no Ordinary Shares held in treasury.
Therefore the Company's total number of Ordinary Shares with voting
rights is 15,550,217.
The above figure of 15,550,217 may be used by Shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure and
Transparency Rules.
Defined terms used in this announcement have the same meaning as
in the Company's Circular dated 3 February 2016.
For further information, please contact:
Instem plc +44 (0) 1785 825 600
Phil Reason, CEO
Nigel Goldsmith, CFO
N+1 Singer (Nominated
Adviser & Broker) +44 (0) 20 7496 3000
Richard Lindley
Nick Owen
James White
Walbrook Financial PR +44 (0) 20 7933 8000
Paul Cornelius instem@walbrookpr.com
Helen Cresswell
Sam Allen
Paul Whittington
About Instem plc
Instem is a leading supplier of IT applications to the early
development healthcare market, delivering compelling solutions for
data collection, management and analysis across the R&D
continuum. Instem applications are in use by customers worldwide,
meeting the rapidly expanding needs of life science and healthcare
organisations for data-driven decision making leading to safer,
more effective products.
Instem's portfolio of software solutions increases client
productivity by automating study-related processes while offering
the unique ability to generate new knowledge through the extraction
and harmonisation of actionable scientific information.
Instem supports over 400 clients through full service offices in
the United States, the United Kingdom, India and China, with
additional presence in France and Japan.
To learn more about Instem solutions and its mission, please
visit www.instem.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGZZFFGGVZM
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February 23, 2016 08:32 ET (13:32 GMT)
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