Angle PLC Offer to Shareholders (4613G)
March 04 2015 - 2:01AM
UK Regulatory
TIDMAGL
RNS Number : 4613G
Angle PLC
04 March 2015
For immediate release 4 March 2015
ANGLE plc
("ANGLE" or "the Company")
OFFER TO SHAREHOLDERS TO RAISE UP TO GBP1.5 MILLION
On 16 February 2015, ANGLE plc (AIM: AGL and OTCQX: ANPCY), the
specialist medtech company, announced an issue of equity to raise
GBP7.3 million (before expenses) by way of a Placing and
Subscription. In conjunction with the Placing and Subscription, the
Board also announced details of an Offer to Qualifying Participants
to raise up to an additional GBP1.5 million (before expenses)
through the issue of up to 2,307,692 New Ordinary Shares at an
Issue Price of 65 pence per Ordinary Share.
The Company is pleased to announce that the Offer, which closed
at 11.00 a.m. on 2 March 2015, was more than four times
oversubscribed. The Offer raised the Offer Maximum of GBP1.5
million and, accordingly, 2,307,692 New Ordinary Shares have been
issued. It is expected that Qualifying Participants that applied
for the Offer will each receive approximately 21.75% of their
applications.
Application has been made for 2,307,692 New Ordinary Shares to
be admitted to trading on AIM. It is expected that admission to AIM
will become effective on 10 March 2015.
Further details of the Placing, Subscription and Offer were set
out in the announcement published by the Company on 16 February
2015.
Unless otherwise defined, capitalised terms shall have the same
meaning as defined in the circular posted to Shareholders on 16
February 2015 (the "Circular"), which is available to view on the
Company's website at www.angleplc.com.
ANGLE's Founder and Chief Executive, Andrew Newland,
commented:
"We are delighted to have received such a strong level of
support from our retail shareholders with the Offer more than four
times over-subscribed. In total we have raised GBP8.2 million net
of expenses in our Placing, Subscription and Offer, which puts
ANGLE in a strong position to progress its first clinical
application in ovarian cancer."
For further information:
ANGLE plc 01483 685830
Andrew Newland, Chief Executive
Ian Griffiths, Finance Director
Cenkos Securities
Stephen Keys, Dr Christopher Golden
(Nominated adviser)
Russell Kerr, Oliver Baxendale (Sales) 020 7397 8900
Buchanan
Mark Court, Sophie Cowles, Jane Glover 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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