Theragenetics Ltd10 Jul 2009 08:19
This developer of detection and analysis technology aimed primarily at the pharmaceutical and healthcare markets, with additional applications in the industrial and security sectors, is pleased to announce that further to the acquisition of Theragenetics Limited on 14 January 2009 and agreement of the Completion Accounts, additional consideration of £596,000 of the maximum additional consideration of £1,050,000 will be paid. This additional consideration has been satisfied by the issue of 11,542,534 ordinary shares of 0.1p ("Ordinary Shares") and £249,724 of Convertible Loan Notes convertible into 8,324,133 Ordinary Shares.AVCT has received conversion notices from each of the holders of the Convertible Loan Notes. Accordingly, the Company has issued 8,324,133 Ordinary Shares in respect of the additional consideration and 13,644,055 Ordinary Shares in respect of the Convertible Loan Notes issued on 14 January 2009.Number of shares which have been issued is 33,510,722 Ordinary Shares ("the Consideration Shares"). Following the issue of the Consideration Shares, the total number of Ordinary Shares in issue is 1,151,751,371. The Consideration Shares to be admitted to trading on AIM, which is expected to take place on 15 July 2009