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Henderson Morley plc (“the Company”)
announces that it has raised £500,000, before expenses, via a placing (“the
Placing”) by Hybridan to institutional and other investors of 83,333.332 new
Ordinary shares of 0.125 pence in the Company at a price of 0.6 pence per
share.
Andrew Knight and Dr Ian Pardoe, directors of the Company, have
subscribed £51,000 and £30,000 for 8,500,000 and 5,000,000 new ordinary shares respectively
as part of the Placing. 6,400,000 and 5,000,000
of these shares will be held in their respective Self Invested Pension
Plans. The Directors, other than Messrs Knight and Pardoe, having consulted
with the Company’s nominated adviser, Brewin Dolphin Investment Banking, believe
that the terms of this transaction are fair and reasonable insofar as
shareholders are concerned.
Following the Placing, Messrs Knight
and Pardoe will own 83,653,764 and 49,727,751 shares respectively, representing
14.54% and 8.64% respectively of the Company’s enlarged issued share capital.
The purpose of this Placing is to
provide the Company with working capital to continue to invest in its research
and development and intellectual property.
The Placing is conditional on the admission
of the new ordinary shares to trading on AIM and therefore application has been
made for the new shares to be admitted to AIM and trading in the new shares is
expected to commence on 17 April 2008. |
