Issue of Ordinary Shares

RNS Number : 3498D

ReNeuron Group plc

01 December 2009

 



1 December 2009

ReNeuron Group plc

ISSUE OF ORDINARY SHARES

ReNeuron Group plc (LSE: RENE.L; "the Company") today announces that, pursuant to the terms of the Flexible Use Small Capital Increase Agreement ("FUSCIA") entered into with Matrix Corporate Capital LLP ("Matrix"), 2,127,643 Ordinary Shares in the Company will be alloted and issued to Matrix in satisfaction of the arrangement fee for the facility. Application has been made to admit these Ordinary Shares to trading on AIM, which is expected to occur shortly.

Following the allotment described above, the issued share capital of the Company will comprise 341,755,159 Ordinary Shares. The Company holds no shares in treasury. Therefore, the total number of voting rights in the Company is 341,755,159. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Services Authority's Disclosure and Transparency Rules.

Enquiries:

Michael Hunt, Chief Executive Officer ReNeuron Group plc	[phone]
Jonathan Birt, Susan Quigley Financial Dynamics	[phone]
Simon Leathers, Emma Earl Daniel Stewart & Company plc	[phone]
Alastair Stratton, Tim Graham  Matrix Corporate Capital LLP	[phone]

About the FUSCIA

The FUSCIA will enable the Company to service its ongoing working capital requirements by drawing on this facility, as required, over the next two years.  The Company will control the timing and amount of any draw-down and is under no obligation to make any such draw-down.  If a draw-down is made, the Company will issue new Ordinary Shares to Matrix at a discount of 5% to a trading price, calculated by reference to a formula based on the daily trading volume of the Company's Ordinary Shares, and volume-weighted average price, over relevant trading periods.  The facility also incorporates an over-allotment option to enable larger draw-downs to be made, should market conditions allow at the time.

 

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