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Increase holding by 2%
On London Stock Exchange
genedrive plc (AIM: GDR), the near patient molecular diagnostics company, confirms that, further to the announcement on 5 May 2020, the Broker Option has now closed. The Broker Option was oversubscribed, will be exercised in full and will raise a total of £1 million for the Company (before expenses).
The Bookrunners had regard for soft pre-emption rights of existing shareholders in respect of the proportion of Broker Option Shares received relative to their existing holdings as were confirmed by their stockbrokers, however, due to the issue being oversubscribed by Shareholders alone, allocations have been scaled back. Therefore, being an existing shareholder in genedrive will not guarantee a full pro-rata entitlement or any allocation of Broker Option Shares.
The Bookrunners expect to notify stockbrokers of the number of Broker Option Shares they have been allocated later today by way of contract notes. Stockbrokers who have placed an order will receive a single allocation, and are in turn responsible for apportioning their allocation to their underlying clients and for confirming whether the shares should be EIS or VCT qualifying, any allocation being subject to the relevant limit of eligible shares.
As already confirmed, Peel Hunt and finnCap have determined all Broker Option Share allocations at their discretion (after consultation with the Company) including any scale back of orders for this purpose on such basis as Peel Hunt and finnCap may determine, including scaling back to zero allocation.
The following Directors of the Company have agreed to subscribe for Broker Option Shares, as set out in the Result of Placing announcement on 5 May 2020, pursuant to the terms of the Broker Option. Following Admission the beneficial interests of such Directors/PDMR will be as follows:
Shareholder
Number of Broker Option Shares subscribed for
Amount payable for the Broker Option Shares
Number of Ordinary Shares held after Admission
Percentage of Enlarged Share Capital (%)
Dr Ian Gilham
12,500
£10,000
503,174
1.12
David Budd
25,000
£20,000
213,710
0.48
Matthew Fowler
12,500
£10,000
99,457
0.22
https://total-market-solutions.com/2020/04/20/emmerson-plc-3/
The Broker Option of up to 1,250,000 new Ordinary Shares, which would raise £1 million if taken up in full, will be open until 5.00 p.m. on 11 May 2020.
To subscribe for Broker Option Shares, investors should communicate their bid to Peel Hunt or finnCap via their stockbroker as neither Peel Hunt nor finnCap can take direct orders from individual private investors. Investors who wish to register their interest in participating in the Broker Option Shares should instruct their stockbroker to call Peel Hunt on +44 (0)20 7418 8900 or finnCap on +44 (0)20 7220 0500. Each bid should state the number of Broker Option Shares the investor wishes to subscribe for at the Placing Price.
Share consolidation
Yes just try’ed to top up
Placing to raise £650,000
At 1.49 Jesus wept
By close .
By close
At 1.10
Is anyone buying with hl