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ReNeuron Group Plc RNS Release

Further re Share Capital Reorganisation


RNS Number : 5473B
ReNeuron Group plc
11 January 2018
 

 

11 January 2018

AIM: RENE

 

ReNeuron Group plc

("ReNeuron" or the "Company")

 

Share Capital Reorganisation - Allotment of Ordinary Shares

& Irrevocable Undertaking

 

Capitalised terms not otherwise defined herein shall have the same meaning given to such terms in the circular issued by the Company on 5 January 2018 (the "Circular").

 

ReNeuron Group plc (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, today makes the following announcement in connection with the proposed Share Capital Reorganisation of the existing ordinary share capital of the Company announced on 5 January 2018 (the "Announcement"). 

 

As notified in the Announcement, the Company intended to issue 59 new Ordinary Shares to Michael Hunt, the Company Secretary and Chief Financial Officer.  Such shares were to be issued to ensure, for the purposes of the Share Capital Reorganisation, that the Company's issued share capital is exactly divisible by 100 and to finance the Buy-Back of the New Deferred Shares. 

 

The Company today announces that Michael Hunt has been issued 59 new Ordinary Shares of 1 pence each in the capital of the Company, at a subscription price of 1.825 pence per share. 

 

Following this share subscription, Michael Hunt's total beneficial interest in the Company is 2,008,530 Ordinary Shares, representing 0.063% per cent of the Company's total voting rights.

 

The Company now has 3,164,618,600 Ordinary Shares in issue, all with voting rights. The Company holds no Ordinary Shares in treasury.  The figure of 3,164,618,600 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

Since the publication of the Announcement and Circular the Company has received a further irrevocable undertaking from Invesco Asset Management Limited. This is in addition to the irrevocable undertakings which the Company had previously received from each of Woodford Investment Management Ltd (acting as discretionary investment manager and agent for and on behalf of the investment funds managed by it) and the Wales Life Sciences Investment Fund LP, as previously announced.

 

Consequently, irrevocable undertakings have now been received in respect of, in aggregate, 1,721,894,944 Existing Ordinary Shares representing, in aggregate, approximately 55.41 per cent. of the Existing Ordinary Shares to vote in favour, or procure the vote in favour, of the Resolutions to be proposed at the General Meeting.

 

 

 

ENQUIRIES:

 

ReNeuron

+44 (0)20 3819 8400

Olav Hellebø , Chief Executive Officer


Michael Hunt, Chief Financial Officer

 


Buchanan

+44 (0) 20 7466 5000

Mark Court, Sophie Wills, Stephanie Watson

 




Stifel Nicolaus Europe Limited

+44 (0) 20 7710 7600

Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Joint Broker)

 


Nplus1 Singer Advisory LLP

+44 (0) 20 7496 3000

Mark Taylor (Joint Broker)





 

About ReNeuron

 

ReNeuron is a leading, clinical-stage cell therapy development company.  Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need.  

 

ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments. The Company has therapeutic candidates in clinical development for disability as a result of stroke, for critical limb ischaemia and for the blindness-causing disease, retinitis pigmentosa.   

 

ReNeuron is also advancing its proprietary exosome technology platform as a potential new nanomedicine targeting cancer and as a potential delivery system for drugs that would otherwise be unable to reach their site of action.

 

ReNeuron's shares are traded on the London AIM market under the symbol RENE.L.  Further information on ReNeuron and its products can be found at www.reneuron.com .

 

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail in connection with the share subscription:

 

1.

Details of PDMR / person closely associated with them

a)

Name

 

 

Michael Hunt

b)

Position / status

 

 

Chief Financial Officer

c)

Initial notification / amendment

 

 

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

 

ReNeuron Group plc

b)

LEI  

 

2138003TU12CQ5TZO137

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument

 

Identification code

 

Ordinary Shares of £0.01

 

 

TIDM: RENE

ISIN: GB00B0DZML60

b)

Nature of the transaction

 

 

Subscription for 59 Ordinary Shares in the capital of the Company. 

This is not linked to the exercise of a share option programme.

 

c)

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

1.825 pence (GBP) per Ordinary Share

59 Ordinary Shares

d)

Aggregated information

Aggregated volume Price

 

 

NA

e)

Date of the transaction

 

 

 

2018-01-11

GMT

f)

Place of the transaction

 

London Stock Exchange, AIM Market

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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