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Abingdon Health PLC (ABDX)

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Thursday 02 December, 2021

Abingdon Health PLC

Open Offer Launch, Posting of Circular, GM Notice

RNS Number : 4427U
Abingdon Health PLC
02 December 2021
 

2 December 2021

 

 

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

 

Abingdon Health plc

("Abingdon Health", the "Group" or the "Company")

 

Launch of Open Offer, Posting of Circular, Notice of General Meeting

 

York, U.K. 2 December 2021: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality and effective rapid tests, is pleased to announce that further to the Company's announcement on 1 December 2021 (the "Proposed Fundraising"), the Company will today post a Circular to Qualifying Shareholders regarding the Open Offer of up to 4,000,000 Open Offer Shares in the Company at the Issue Price of 25 pence per Open Offer Share to raise up to approximately £1 million (before expenses).

 

Pursuant to the Open Offer, Qualifying Shareholders will be given the opportunity to subscribe for:

 

1 Open Offer Share for every 23.9247785 Existing Ordinary Shares

held by each Qualifying Shareholder on the Record Date.

Any Open Offer Shares not subscribed for by Qualifying Shareholders will be available to Qualifying Shareholders under the Excess Application Facility and as such, Qualifying Shareholders seeking to limit their dilution from the Placing, the Subscription and the Primary Bid Offer can also request additional Open Offer Shares ("Excess Shares") under the Excess Application Facility. The Open Offer is not being underwritten. 

 

The  Open   Offer is conditional upon, among other matters, the Second Placing becoming or being declared unconditional in all respects and not being terminated before Second Admission.

 

Posting of Circular

 

Further details regarding the Open Offer are available in the Circular, which has been posted today to Qualifying Shareholders, along with the Application Form (where applicable).   The Circular will also be made available on the Company's website: www.abingdonhealth.com/investors/

 

Notice of General Meeting

A notice convening a General Meeting of the Company is set out at the end of the Circular.  The General Meeting has been convened for 10.30 a.m. on 20 December 2021 at the offices of Abingdon Health plc at York Biotech Campus, Sand Hutton, York, YO41 1LZ.

 

Capitalised terms used in this announcement have the meanings given to them in the Circular, unless the context provides otherwise.

 

Enquiries:

 

Abingdon Health plc

www.abingdonhealth.com/investors/

Chris Yates,   Chief Executive Officer

Via Walbrook PR

Melanie Ross , Chief Financial Officer


Christopher Hand,  Non-Executive Chairman




Singer Capital Markets Securities Limited (Sole Bookrunner and Broker)
Singer Capital Markets Advisory LLP (Nominated Adviser)

Tel: +44 (0)20 7496 3000

Shaun Dobson, Peter Steel, Alex Bond (Corporate Finance)


Tom Salvesen (Corporate Broking)




Walbrook PR Limited

Tel: +44 (0)20 7933 8780 or  [email protected]

Paul McManus / Phillip Marriage

Mob: +44 (0)7980 541 893 / +44 (0)77867 984 082

Alice Woodings

Mob: +44 (0)7407 804 654  

 

 

 

Expected timetable of principal events:

 


2021

Record Date for entitlement under the Open Offer

30 November

Announcement of the Fundraising

7.00 a.m. on 1 December

Announcement of the results of the Placing, the Subscription and the PrimaryBid Offer

1 December

Publication and posting of the Circular, Notice of General Meeting, Form of Proxy and, to Qualifying Non-Crest Shareholders, the Application Form

2 December

Ex-Entitlement Date of the Open Offer

2 December

Open Offer Entitlements and Excess Open Offer Entitlements credited to stock accounts in CREST of Qualifying CREST Shareholders

3 December

Admission of the First Placing Shares to trading on AIM and commencement of dealings

8 a.m. on 3 December

Where applicable, expected date for CREST accounts to be credited in respect of First Placing Shares in uncertificated form

3 December

Latest recommended time and date for requested withdrawal of Open Offer Entitlements

4.30 p.m. on 13 December

Latest time and date for depositing Open Offer Entitlements in CREST

3.00 p.m. on 14 December

Latest time and date for splitting of Application Forms under the Open Offer

3.00 p.m. on 15 December

Latest time and date for receipt of Forms of Proxy and CREST voting instructions

10.30 a.m. on 16 December

Latest time and date for receipt of Application Forms and payment in full under the Open Offer and settlement of relevant CREST instructions (as appropriate)

11.00 a.m. on 17 December

Where applicable, expected date for dispatch of definitive share certificates for First Placing Shares in certificated form

17 December

General Meeting

10.30 a.m. on 20 December

Results of the General Meeting and the Open Offer announced

20 December

Admission of the Second Admission Shares to trading on AIM and commencement of dealings

8 a.m. on 21 December

Where applicable, expected date for CREST accounts to be credited in respect of Second Admission Shares in uncertificated form

21 December

Where applicable, expected date for dispatch of definitive share certificates for Second Admission Shares in certificated form

6 January 2022

 

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