Issue of Shares to Director (6192Y)

TIDMMEDG

RNS Number : 6192Y

Medgenics Inc

24 December 2010

Medgenics, Inc.

('Medgenics' or the 'Company')

Issue of Shares to Director

24 December 2010 - Misgav, Israel and London, UK -Medgenics (AIM: MEDG and MEDU), the company that has developed a novel technology for the manufacture and delivery of therapeutic proteins continuously in patients using their own tissue, today announces that on 23 December 2010 the Company granted Dr. Eugene Bauer, Executive Chairman of the Company, 2,000,000 restricted common shares of par value of US $0.0001 each ("Common Shares") in compensation for his services in his new role as the executive chairman of the board of the Company. These Common Shares will be fully paid and no consideration is payable by Dr. Bauer as part of this issue.

These Common Shares are restricted in so much as they may not be disposed of and are not entitled to dividends. These restrictions will be removed in relation to 500,000 Common Shares on each of 18 October 2012 and 18 October 2013 and the final 1,000,000 Common Shares on 18 October 2014, following which they will rank pari passu in all respects with the then issued Common Shares.

Following the issue of these Common Shares, Dr. Bauer will be interested in 4,674,559 Common Shares representing 2.6 per cent. of the then issued share capital and options over 7,080,531 Common Shares. Gene Bauer's total interests will therefore be over 11,755,090 Common Shares representing 6.4 per cent. of the issued share capital. The total percentage of Common Shares not in public hands will be 24.9 per cent.

The Company will apply for admission of the 2,000,000 new Common Shares to AIM and admission is expected to become effective on 5 January 2011.

For further information, contact:

 
 Medgenics, Inc.                                Phone: +972 4 902 8900 
  Dr. Andrew L. Pearlman 
---------------------------------------------  ------------------------ 
 Religare Capital Markets (Nominated Adviser)   Phone: +44 207 444 0800 
  James Pinner 
  Derek Crowhurst 
---------------------------------------------  ------------------------ 
 SVS Securities plc (Joint Broker)              Phone: +44 207 638 5600 
  Ian Callaway 
---------------------------------------------  ------------------------ 
 Nomura Code Securities PLC (Joint Broker)      Phone: +44 207 776 1219 
  Jon Senior 
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This information is provided by RNS

The company news service from the London Stock Exchange

END

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