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Henderson Morley plc, the AIM quoted
biotechnology company, announces that the Board has, today, issued and allotted
a total of 146 million new ordinary shares through a Placing by Hybridan LLP to
Institutional shareholders and other investors at 0.2 pence per share, raising
£292,000 (gross) for the Company.
Andrew Knight and Dr Ian Pardoe, Directors of the Company, have each
subscribed £50,000 for 25 million new ordinary shares as part of the Placing.
It is intended that 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, believe that the terms of this
transaction are fair and reasonable insofar as shareholders are concerned. Following the Placing A Knight and
Dr I Pardoe will own 111,153,764 and 74,727,751 shares respectively,
representing 15.41% and 10.36% respectively of the Company’s enlarged issued
share capital of 721,261,963 shares in issue.
Mr Michael Dunne has also subscribed
£20,000 for 10 million shares and is now interested in 6.44% of the Company’s
enlarged issued share capital.
The Placing is to fund additional
working capital for the Company. Application has been made for the
new shares to be admitted to AIM and trading in the new shares is expected to
commence on 4 February 2009. |
