RESULT OF GENERAL MEETING AND CLOSING OF THE FUNDRAISING
Synairgen announced, on 27 May 2011, its intention to raise £2.65 million (gross) by means of a placing with institutional investors of 9,359,262 new Ordinary Shares (the "Placing") and a subscription by the Directors and others for 455,553 new Ordinary Shares (the 'Subscription'), all at a price of 27p per Ordinary Share (together the 'Fundraising').
Synairgen today announces that the shareholder approval necessary to permit the Fundraising was given at a General Meeting of the Company held earlier today and that 9,814,815 Ordinary Shares have been allotted and issued. Application has been made to admit such Ordinary Shares to trading on AIM and admission is expected to occur on 14 June 2011.
Following closing of the Fundraising, the issued share capital of Synairgen now comprises 69,560,064 Ordinary Shares. The Company holds no shares in treasury. Therefore, the total number of voting rights in the Company is 69,560,064. 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.
For further information, please contact:
Tel: + 44 (0) 2380 512 800
Richard Marsden, CEO
John Ward, Finance Director
Matrix Corporate Capital
Tel: + 44 (0) 20 3206 7000
Tel: + 44 (0) 20 7653 9850
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