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Xenetic Biosciences (XEN)

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Tuesday 17 January, 2012

Xenetic Biosciences

Acquisition of SymbioTec

RNS Number : 6551V
Xenetic Biosciences PLC
17 January 2012
 



 

Xenetic Biosciences PLC

('Xenetic' or the 'Company')

 

Acquisition of SymbioTec GmbH and completion of arrangements with Serum Institute of India and the proposed Open Offer

 

Xenetic Biosciences plc (AIM: XEN.L), the bio-pharmaceutical company specialising in the development of high-value differentiated biologic drugs and vaccines, is pleased to announce that, further to the Company's announcement of 3rd January 2012, completion under the Sale and Purchase Agreement dated 4th August 2012 has occurred and the Company has, accordingly, allotted 80 million Acquisition Shares to the Sellers (subject always to the relevant 15 million Acquisition Shares to be held in escrow) and has made the relevant Application for Admission to AIM. The Acquisition Shares are expected to be admitted to trading on Friday 20th January 2012.

 

Additionally, the Company has now also concluded all of its proposed arrangements with the Serum Institute of India ("SIIL") under the Master Agreement (et al). These include legal completion of the new Master Agreement, and, by way of consideration, Xenetic has allotted as fully paid, nine million new ordinary shares. SIIL has also subscribed for a further 2.5 million new ordinary shares to be issued at a price of 11 pence per share, thereby raising £275,000 of new capital for the Company.  Application for Admission to trading of the aggregate 11.5 million new ordinary shares issuable to SIIL has been made to AIM and the new ordinary shares are expected to be admitted on Friday 20th January 2012.

As a consequence of the above-noted share allotments the total number of ordinary shares in issue following Admission will be 379,732,255 with notifiable holdings as set out below:

Shareholder

Number of shares

% of Total Voting Rights

Synbio LLC

184,755,238

48.65%

Serum Institute of India and related parties

44,316,415

11.67%

Dr Volker Rusch

16,344,599

4.30%

Klaus Faber AG

15,506,210

4.08%

Pershing Nominees *

13,774,320

3.63%

·    Includes  1,825,420 held by Mr Colin Hill, a director of the Company

With respect to the proposed Open Offer, the Company will monitor market conditions for the next 10 trading days particularly as respects the Ordinary Share price, to determine whether the Open Offer should be pursued.  Accordingly, a definitive announcement on the matter will be made no later than 07:00 hours on Wednesday 1st February 2012.

Defined terms included above shall have the same meaning ascribed to them in the Shareholder Circular dated 4th August 2011.

Enquiries:

Xenetic Biosciences plc

+44 (0)20 7389 5015

M. Scott Maguire, Chief Executive Officer




Singer Capital Markets (NOMAD & Broker)

+44 (0)20 3205 7500

Claes Spång




Walbrook PR

+44 (0)20 7933 8780

Paul McManus

paul.mcmanus@walbrookpr.com

Paul Cornelius

paul.cornelius@walbrookir.com

 


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