12 June 2007
Lipoxen Plc ('Lipoxen' or 'the Company')
ISSUE OF EQUITY
London, UK, 12 June, 2007 - Lipoxen plc, a biopharmaceutical company
specialising in the development of high value differentiated biologicals,
vaccines and oncology drugs, today announces that 750,000 new ordinary shares
have been issued pursuant to Mr. Scott Maguire's formal exercising of 750,000
Scott Maguire is the Company's CEO, and, as a result of the above exercise, he
now holds 750,000 ordinary shares representing 0.63% of the voting rights of the
Application for admission to trading on AIM of the 750,000 new ordinary shares
has been submitted and dealings are expected to commence on 18 June 2007.
By way of update, the Company notes that in an announcement made on 22 February
2006 it was disclosed that Mr. Maguire was granted options over 6,575,366
ordinary shares of the Company at an exercise price of 1p per ordinary share.
This figure was based on the commitment to Mr. Maguire that he was entitled to
options equating to 6.75% of the issued share capital of the Company, and was
calculated as at the date of re-admission to AIM.
At that date the Company had acquired approximately 90% of the equity in Lipoxen
Technologies Limited but with an absolute commitment to compulsorarily purchase
the remaining minority (as disclosed in the Company's admission document).
Following completion of the purchase of the minority, Mr. Maguire's gross
entitlement became options over 6,950,250 ordinary shares of the Company at an
exercise price of 1p per ordinary share.
Having now exercised 750,000 of those options, Mr. Maguire remains interested in
options over 6,200,250 ordinary shares at an exercise price of 1p per ordinary
M. Scott Maguire, CEO +44 (0)20 7691 3583
Grant Thornton Corporate Finance
Philip J Secrett +44 (0)20 7383 5100
Citigate Dewe Rogerson
Yvonne Alexander +44 (0)20 7638 9571
This information is provided by RNS
The company news service from the London Stock Exchange