Thursday 19th January 2012
THIS ANNOUNCEMENT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, SOUTH
AFRICA, THE REPUBLIC OF IRELAND OR AUSTRALIA OR ANY OTHER STATE OR JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Tissue Regenix Group plc
("Tissue Regenix or the "Company)
Placing to Raise £25 million ("Placing)
pleased to announce a conditional placing of 181,818,182 new Ordinary Shares of 0.5p each ("Placing
Shares), at a price of 13.75 pence per share ("Placing Price) to raise £25 million before expenses (£24.2
million net of expenses).
Highlights
· The Placing proceeds will potentially enable the Company to progress its key programmes through a
range of key value inflection points;
- fund the development of further applications of the vascular patch through a mixture of
preclinical and clinical studies;
- develop the porcine heart valve product and seek regulatory approval for a decellularised
version of an existing bioprosthetic heart valve;
- progress existing meniscus project towards CE approval and initiate ligament development
programme targeted at anterior cruciate ligament repair;
- progress the advanced woundcare area with the development of dermis products; and
- fund expanded teams in product development, quality assurance, regulatory affairs and
manufacturing as well as overheads and costs of a planned move into larger premises.
· The Placing Price represents a discount of approximately 2.7 per cent. to the closing mid-market
share price of the Company on 7 December 2011;
· The Placing has attracted both existing and new investors and includes a significant investment in
the Company by Invesco Asset Management Limited;
· The 181,818,182 Placing Shares will represent approximately 38.6 per cent. of the existing issued
share capital of the Company prior to the issue of the Placing Shares;
· The Placing is conditional, inter alia, on Resolutions being passed at a general meeting of the
Company to grant the directors of the Company authority to allot the Placing Shares and disapply
pre-emption rights in connection with the allotment of the Placing Shares; and
· The Placing has been fully underwritten by Peel Hunt LLP who are acting as sole nominated adviser
and broker.
John Samuel, Executive Chairman of Tissue Regenix, said:
"We are delighted to announce this material funding round which will transform our balance sheet and gives
us the firepower to leverage our innovative technology platform. As well as allowing the Company to
develop a range of products simultaneously following the established medical device regulatory route, this
commitment from both existing and new investors is a significant endorsement of the commercial potential
of our broad product pipeline. The Directors continue to believe that our tissue products' ability to retain
2
biomechanical and regenerative capabilities on implantation provides us with an attractive platform from
which we aim to become a significant global player in regenerative medicine.
For further information please contact:
Tissue Regenix Group Plc Tel: +44 (0)190 456 7609
Antony Odell, Managing Director
Ian Jefferson, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker) Tel: +44 (0)20 7418 8900
James Steel
Vijay Barathan
Matthew Brooke-Hitching
FTI Consulting
Tel: +44 (0)20 7831 3113
Ben Atwell
John Dineen
distribué par | Ce noodl a été diffusé par Tissue Regenix Group plc et initialement mise en ligne sur le site http://www.tissueregenix.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-19 17:10:17 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |