Collagen Solutions PLC (LON:COS)

Collagen Solutions PLC (LON:COS)


Share Price
3.85 p
Change
0 (0.00 %)
Market Cap
£17.08 m
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Collagen Solutions PLC RNS Release

Result of General Meeting and Open Offer


RNS Number : 2507B
Collagen Solutions PLC
05 June 2019
 

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN.

 

 

5 June 2019

 

Collagen Solutions plc

("Collagen Solutions", the "Company" or the "Group")

 

Result of General Meeting and Open Offer

 

Resolutions passed relating to fundraising of £5.96 million, including a £4.18 million strategic investment from Rosen's Diversified Inc.

 

Collagen Solutions plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, is pleased to announce that all resolutions put to shareholders in connection with the proposed Subscription, Placing and Open Offer to raise up to £6.0m were duly passed at the General Meeting of the Company held earlier today.

 

On 20 May 2019, the Company, announced a strategic investment by Rosen's Diversified Inc of £4.18 million (before expenses) (the "Subscription"). In addition to this Subscription, the Company announced a Placing and Open Offer of up to an additional £1.83 million (before expenses).

 

The Open Offer (which also included for these purposes a direct subscription by one of the directors) closed at 11:00 am on 4 June 2019 and will raise a total of approximately £0.53 million. Accordingly, the aggregate amount raised pursuant to the Subscription, Placing and Open Offer is approximately £5.96 million (before expenses). The Subscription, Placing and Open Offer were conducted at a price of 5.0p per share.

 

The funds raised from this new strategic partner and new and existing shareholders are expected to fund manufacturing expansion, product development and working capital.

 

An application has been made for the 119,166,429 new Ordinary Shares relating to the Subscription, Placing and Open Offer to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective at 8:00am on 6 June 2019. Following Admission, the Company will have 443,682,981 Ordinary Shares in issue admitted to trading on AIM.

 

Further details of the Subscription, Placing and Open Offer were set out in the Circular published by the Company on 20 May 2019.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

 

 

 

 

 

Enquiries: 

 

Collagen Solutions Plc

 

Jamal Rushdy, CEO 

Via Walbrook

Hilary Spence, CFO

 

 

 

Cenkos Securities Plc (Nominated Adviser and Broker)

 

Giles Balleny / Stephen Keys

Tel: 0207 397 8900

 

 

 

 

Walbrook PR Ltd

Tel: 020 7933 8780 or [email protected] 

Anna Dunphy

Mob: 07876 741 001

 

 

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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