INS.L Regulatory News (INS)

13 Oct 2010 07:00

Instem Life Science First Day of Dealings on AIM RNS Number : 2765U Instem Life Science Systems plc 13 October 2010 This announcement is not an admission document. This announcement does not constitutean offer to sell or the solicitation of an offer to buy Ordinary Shares in any jurisdictionin which such offer or solicitation is unlawful. In particular, this announcementis not for distribution in or into Australia, Canada, Japan, the Republic of Irelandthe Republic of South Africa, or the United States of America. The Ordinary Shares have not been and will not be registered under the United StatesSecurities Act 1933 (as amended) nor under the applicable securities legislationof the United States of America or any province or territory of Australia, Canada,Japan, the Republic of Ireland, or United States of America, territory or possessionwhere to do so may contravene local securities laws or regulations. Accordingly,the Ordinary Shares may not, subject to certain exemptions, be offered or sold directlyor indirectly in or into Australia, Canada, Japan, the Republic of Ireland, the Republicof South Africa, or to the United States of America or to, or for the account orbenefit of, US persons or any national, resident or citizen of the United Statesof America, Australia, Canada, Japan, the Republic of Ireland or the Republic ofSouth Africa. The distribution of this announcement in other jurisdictions may be restricted bylaw and therefore persons into whose possession this announcement comes should informthemselves about and observe any such restrictions. Any failure to comply with theserestrictions may constitute a violation of the securities laws of any such jurisdiction. 13 October 2010 Embargoed for 07:00 Instem Life Science Systems plc ("Instem" or the "Company") COMMENCEMENT OF DEALING IN SHARES Instem Life Science Systems plc (AIM:INS.L), a leading provider of IT applicationsto the global early development healthcare market, is pleased to announce that dealingswill commence today in its Ordinary Shares following its admission to AIM, underthe ticker INS. Instem has raised £9.15 million (prior to expenses) through a placing by Brewin Dolphinof 5,228,376 new Ordinary Shares at the placing price of 175p per share. Followingthe placing, there will be 11,714,286 Ordinary Shares in issue, giving Instem a marketcapitalisation of £20.50 million at the placing price. The percentage of OrdinaryShares in public hands on Admission will be approximately 45 per cent. Based in Staffordshire, Instem is the leading provider of Early Development SafetyAssessment software, providing its services to over 80 customers, including sevenof the top ten global pharmaceutical and biotech companies. The Company has in placea reputable and established business, primarily in North America, Europe and theUK, and expects to grow organically, and where appropriate, acquisitively to accelerateits growth trajectory. General market drivers such as increased R&D productivityrequirements, increasing regulatory pressure, growing Far Eastern markets and theongoing trend to outsource are expected to drive increased demand for Instem's solutions. Phil Reason, CEO of Instem Life Science Systems plc, commented, "We have been delightedwith the response from investors and believe AIM will provide us with an excellentplatform as we seek to further our market leading position through both organic andacquisitive growth." For further information, please contact: Instem Life Science Systems plc +44 (0) 1785 825600 Phil Reason, CEO Jim McLauchlan, CFO Brewin Dolphin - Financial Advisor, Broker & NOMAD +44 (0) 0845 213 4730 Mark Brady Sean Wyndham-Quin Rickitt Mitchell - Joint Financial Advisor to the Company +44 (0) 161 834 0600 Matthew Bryden-Smith Neil Mitchell Threadneedle Communications +44 (0) 20 7653 9850 Caroline Evans-Jones Fiona Conroy Josh Royston About Instem Life Science Systems plc Instem (AIM:INS.L) is a leading supplier of IT solutions to the early developmenthealthcare market. Instem's study management solutions accelerate drug and chemicaldevelopment by increasing productivity, automating processes and enhancing practicesthat lead to safer and more effective drugs. Instem has over 80 customers in North America, Europe, China, India and Japan, includingseven of the top ten pharmaceutical and biotech companies such as GlaxoSmithKlineand AstraZeneca. The Company employs over 100 people in six offices in the U.S,UK, and China; with additional resource locations in India and a full service distributorlocation in Japan. It is estimated that approximately half of the world's pre-clinicaldrug safety data has been collected over the last 20 years via Instem software. To learn more about Instem please visit the Company's website, www.instem-lss.com,or its investor centre http://investors.instem-lss.com/. This information is provided by RNS The company news service from the London Stock Exchange END