ALB.L Regulatory News (ALB)

14 Sep 2006 07:50

Bionex Investments PLC14 September 2006 14 September 2006AIM: BNX BIONEX INVESTMENTS PLC ("Bionex" or "the Company") Conditional placing of £8,275,000 Extraordinary General Meeting Change of Name to Albany Capital plc The board of Bionex today announces that it has conditionally raised £8,275,000gross (£8,125,000 after expenses) through the placing of 413,750,000 newordinary shares ("the Placing Shares") at 2 pence per share ("the Placing").The Placing is conditional inter alia on the passing of certain resolutions bythe shareholders of the Company and accordingly an extraordinary general meetingof the Company (the "EGM") will be convened for 11.00am on 9 October 2006. Atthe EGM, the directors of Bionex will seek shareholder approval of theresolutions necessary to carry out the Placing and to change the name of theCompany to Albany Capital plc. Further information on the proposed resolutions is set out in a circularcontaining the notice of EGM (the "Circular") which was posted to shareholdersof the Company today. Copies of the Circular will be available during normalbusiness hours on weekdays (excluding public holidays) for one month fromtoday's date at the offices of W.H. Ireland Limited, Fifth Floor, 24 MartinLane, London EC4R 0DR. Subject inter alia to the passing of the resolutions at the EGM, applicationwill be made for the Placing Shares to trade on AIM and it is expected thatdealings in the Placing Shares will commence on 12 October 2006. The PlacingShares will rank pari passu in all respects with the existing shares in issue. The following director of the Company is proposing to participate in the Placingas set out below: Director Number of Consideration Total holding immediately Percentage of issued ordinary Placing Shares following the Placing share capital immediately following the Placing Tim James 12,500,000 £250,000 22,500,000 3.80% Conditional on admission of the Placing Shares to trading on AIM, the Company isdelighted to announce that John McLean is to be appointed to the board of theCompany as a non-executive director. Mr McLean is a chartered accountant andwas a senior manager at Coopers & Lybrand both in London and New York. He iscurrently managing director of Fairfax Classical Properties and a director ofWestminster Growth Capital, who are investing £3 million in the Placing for150,000,000 shares. Mr McLean is proposing to participate in the Placing as setout below: Proposed Number of Consideration Total holding immediately Percentage of issued ordinaryDirector Placing Shares following the Placing share capital immediately following the Placing John McLean 10,000,000 £200,000 10,000,000 1.69% The Company also announces that Oliver Vaughan, a non-executive director of theCompany, is appointed as Chairman of the board of Bionex with immediate effect. For further information please contact: Bionex Investments PLC Chris Roberts +44 (0) 20 7937 4445 W.H. Ireland Limited Peter Jackson +44 (0) 20 7220 1666 This information is provided by RNS The company news service from the London Stock Exchange