Last checked at 4 Jan 2024 07:00
4 January 2024
Microsaic Systems plc
("Microsaic" or the "Company")
Update
Capitalised terms in this announcement carry the same meaning as in the Circularor subsequent announcements, unless the context indicates otherwise
Microsaic Systems plc (AIM: MSYS), the developer of micro-electronic instruments and analytical solutions, provides an update on the Revised Fundraising and Acquisition following the completion of the Share Consolidation and Sub-division on 2 January 2024.
Further to the Result of General Meeting announcement made by the Company on 29 December 2023, Microsaic is in the process of securing binding conditional commitments to the Placing through Turner Pope Investments as placing agent to the Revised Fundraising. The Company's ongoing due diligence with regard to the Acquisition and finalisation of the terms of the Acquisition Agreement continue to make positive progress.
A further update will be provided in the coming days in relation to the expected timetable of principal events relating to the Placing, Acquisition, publication of Annual Report and Interim Results, Restoration and Admission. The Company confirms that Cancellation will not become effective at 7.00 a.m. today as previously anticipated.
Further to the Share Capital Reorganisation, Microsaic confirms that the Company's new ISIN code is GB00BMWC8365. CREST accounts have been credited with the New Ordinary Shares of 0.001 pence each and holders of certificated shares need take no further action.
Enquiries:
Microsaic Systems plc Bob Moore, Acting Executive Chairman | +44 (0) 20 3657 0050 via TPI |
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Singer Capital Markets (Nominated Adviser) Aubrey Powell / Angus Campbell / Oliver Platts | +44 (0)20 7496 3000 |
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Turner Pope Investments (TPI) Limited (Broker) Andy Thacker / James Pope | +44 (0) 20 3657 0050 |
About Microsaic Systems
Microsaic has over 20 years' experience in microelectronics and development of instrumentation. The Company has a robust and innovative patent portfolio in cutting-edge technology designed and developed for "Industry 4.0" application serving markets in diversified Industries, Human and Environmental Health. Microsaic's system solutions have enabled analytical detection and characterisation at the point-of-need, whether within a conventional laboratory setting, or within a bioprocessing facility for continuous detection of data at multiple steps in the process workflow.
Microsaic's products and solutions are commercially available through global markets via a network of regional and local partners, targeting its core laboratory, manufacturing and point-of-need applications.