Last checked at 19 Mar 2015 07:00
19 March 2015
MICROGEN plc ("Microgen" or the "Company")
RETURN OF VALUE AND LISTING OF NEW ORDINARY SHARES
At the General Meeting of Microgen held on 18 March 2015, Shareholders approved the Return of Value of approximately £20 million, by way of a B/C Share Scheme of 27 pence for each Existing Ordinary Share held at 6.00 p.m. on 18 March 2015 and the consolidation of Existing Ordinary Shares on the basis of 7 New Ordinary Shares in place of every 9 Existing Ordinary Shares.
40,052,751 B Shares and 34,557,918 C Shares will be issued and allotted at 8.00 a.m. today to Shareholders who were on the register of members of the Company at 6.00 p.m. on 18 March 2015.
No application will be made to the United Kingdom Listing Authority or to the London Stock Exchange, respectively, for any of the B Shares or C Shares to be admitted to the Official List or to trading on the main market for listed securities, nor will the B Shares or C Shares be listed or admitted to trading on any other securities or investment exchange.
74,610,669 Existing Ordinary Shares will today be consolidated into 58,030,520 New Ordinary Shares of 6 3/7 pence each. Application has been made for the New Ordinary Shares to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities with a premium listing and will commence trading at 8.00 a.m. today.
Further details of the Return of Value and Share Capital Consolidation are contained in the circular to Shareholders dated 25 February 2015 (the "Circular"). All definitions used in the Circular to Shareholders apply to this announcement. To view the Circular, please visit the Company's website at www.microgen.com.
Contacts
Martyn Ratcliffe, Chairman 020-7496-8100
Philip Wood, Group Finance Director