AMP.L Regulatory News (AMP)

7 Apr 2008 15:46

Amphion Innovations PLC07 April 2008 Amphion Innovations plc Fundraising and Directors Dealings London and New York, 7 April 2008 - Amphion Innovations plc (LSE: AMP)("Amphion" or the "Company"), the developer of medical and technologybusinesses, today announces that it has raised £250,000 (before expenses) by theissue of 1,136,364 new ordinary shares of 1p each in the capital of the Company(the "New Ordinary Shares") to an institutional investor by way of subscriptionat an issue price of 22 pence per New Ordinary Share to enable the Company toinvest in current and new Partner Companies and to provide working capital forthe Company. The New Ordinary Shares will represent approximately 0.87 per centof the existing Amphion share capital. Application will be made to the London Stock Exchange for the New OrdinaryShares to be admitted to trading on AIM. The New Ordinary Shares will, whenissued, rank equally in all respects with the existing Ordinary Shares,including the right to receive any dividend or other distribution declared, madeor paid following Admission. It is expected that Admission will become effectiveand that dealings in the New Ordinary Shares will commence 11 April 2008. Amphion also announces today that New Ordinary Shares have been issued to Boardmembers Richard Mansell-Jones and R. James Macaleer who, in lieu of theirdirectors' fee for the period 1 January to 31 March 2008, received their fullremuneration in the form of Ordinary Shares priced at 22p being the closingmid-market price on 1 April 2008. Richard Mansell-Jones, Chairman of Amphion, received 40,227 Ordinary Shares,bringing his total holdings of the Company to 2,602,792 representing 2 per centof the Company's issued Ordinary Share capital. Pursuant to Rule 13 of the AIMRules this constitutes a related party transaction and the independent Directorsconsider having consulted with its Nominated Adviser that the terms of thetransaction are fair and reasonable insofar as its shareholders are concerned. R. James Macaleer received 20,114 Ordinary Shares, bringing his total holding ofthe Company to 19,871,563 representing 15.26 per cent of the Company's issuedOrdinary Share capital. Chief Executive Officer, Richard Morgan and President and Chief FinancialOfficer, Robert Bertoldi, who are also both Board members, have received NewOrdinary Shares as part of their incentive compensation. Richard Morgan received379,056 Ordinary Shares priced at 22p, bringing his total holdings of theCompany to 21,173,211 representing 16.26 per cent of the Company's issuedordinary share capital. Robert Bertoldi received 31,607 Ordinary Shares pricedat 22p, bringing his total holdings of the Company to 5,674,844 representing4.36 per cent of the Company's issued Ordinary Share capital. In addition to the 410,663 Ordinary Shares issued to Richard Morgan and RobertBertoldi, 50,893 Ordinary Shares were also issued to five employees of theCompany as part of their incentive compensation. Admission of the 1,658,261 New Ordinary Shares, ranking pari passu, is expectedon 11 April 2008. Following admission of the New Ordinary Shares, the Company will have130,196,893 ordinary shares in issue with each ordinary share holding one votingright. For further information please contact Amphion Innovations plcCharlie Morgan, Director of Communications+1 212 210 6224 Cardew GroupTim Robertson/ Jamie Milton/ Matthew Law+44 020 7930 0777 Charles Stanley Securities - Nominated AdviserMark Taylor / Freddy Crossley+44 20 7149 6000 About Amphion Innovations plc Amphion (LSE: AMP) builds shareholder value in high growth companies in themedical and technology sectors, by using a focused, hands-on company buildingapproach, based on decades of experience in both the US and UK. Amphion has significant shareholding in 10 Partner Companies developing proventechnologies targeting substantial commercial marketplaces, each in excess of $1billion. Each Partner Company is chosen with the goal of achieving an exitvaluation in excess of $100 million. On the web: www.amphionplc.com This information is provided by RNS The company news service from the London Stock Exchange