Instem plc Result of General Meeting, Issue of Equity and TVR (2483T)
July 16 2020 - 7:27AM
UK Regulatory
TIDMINS
RNS Number : 2483T
Instem plc
16 July 2020
Instem plc
("Instem" or the "Company")
Result of General Meeting, Issue of Equity and Total Voting
Rights
Instem plc (AIM: INS), a leading provider of IT solutions to the
global life sciences market, announces that at the General Meeting
held earlier today, all Resolutions, as set out in the Circular and
Notice of General Meeting dated 30 June 2020, were duly passed by
Shareholders.
The Company has therefore raised gross proceeds of GBP15.75
million further to the announcement made in connection with the
Placing on 26 June 2020.
Issue of Equity
Accordingly, the Company confirms the issue and allotment of (i)
3,620,690 New Ordinary Shares ; and (ii) 187,427 Option Shares
following an exercise of options by Phil Reason, the Company's
Chief Executive Officer.
Application has been made to the London Stock Exchange for the
New Ordinary Shares and the Option Shares to be admitted to trading
on AIM. It is anticipated that Admission will become effective and
that dealings in the New Ordinary Shares and the Option Shares will
commence at 8.00 a.m. on or around 17 July 2020. The New Ordinary
Shares and the Option Shares rank pari passu in all respects with
the existing Ordinary Shares, including the right to receive any
dividends and other distributions declared following Admission.
Total voting rights
Following Admission, the Company will have 20,481,909 Ordinary
Shares in issue . No Ordinary Shares are held in treasury.
Accordingly, immediately following Admission, the total number of
voting rights will be 20,481,909. This figure may be used by
Shareholders as the denominator for the calculation by which they
will determine whether they are required to notify their interest
in, or a change to their interest in, the Company under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
Sale Shares
In addition to the above arrangements, a total of 692,066 Sale
Shares have been placed, raising gross proceeds of GBP3.0 million
for the Selling Shareholders which included certain of the
Company's PDMRs and their PCAs as outlined in the Company's Result
of Placing announcement released at 2.00 p.m. on 26 June 2020. All
disclosures required by Article 19(3) of the EU Market Abuse
Regulation No 596/2014 in relation to PDMR dealings will be made
shortly following Admission.
Capitalised terms used in this announcement unless defined in
this announcement or unless the context provides otherwise, bear
the same meaning ascribed to such terms in the Circular and Notice
of General Meeting dated 30 June 2020, a copy of which is available
to view on the Company's website at
https://investors.instem.com/news/articles/0620-publication-of-circular.php
.
For further information please contact:
Instem PLC
Phil Reason, Chief Executive Officer
Nigel Goldsmith, Chief Financial
Officer +44 (0) 1785 825 600
N+1 Singer - NOMAD and Broker
Peter Steel (Corporate Finance)
Rachel Hayes (Corporate Broking) +44 (0) 20 7496 3000
Walbrook Financial PR
Tom Cooper
Nick Rome +44 (0) 20 7933 8000
About Instem plc
Instem is a leading provider of IT solutions & services to
the life sciences market delivering compelling solutions for Study
Management and Data Collection; Regulatory Solutions for
Submissions and Compliance; and Informatics-based Insight
Generation.
Instem solutions are in use by over 500 customers worldwide,
including all the largest 25 pharmaceutical companies, enabling
clients to bring life enhancing products to market faster. 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 products and services now address aspects of the entire
drug development value chain, from discovery through to market
launch. Management estimate that over 50% of all drugs on the
market have been through some part of Instem's platform at some
stage of their development.
To learn more about Instem solutions and its mission, please
visit www.instem.com .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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