Last checked at 12 Jun 2017 11:10
12 June 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, THE REPUBLIC OF Ireland, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY ORDINARY SHARES OR OTHER SECURITIES OF THE COMPANY AND NEITHER THIS ANNOUNCEMENT NOR ANYTHING HEREIN FORMS THE BASIS FOR ANY CONTRACT OR COMMITMENT WHATSOEVER. ORDINARY SHARES OR OTHER SECURITIES OF THE COMPANY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OF AMERICA ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION AND THE ORDINARY SHARES DESCRIBED HEREIN WILL BE SOLD IN ACCORDANCE WITH ALL APPLICABLE LAWS AND REGULATIONS.
NetScientific plc
("NetScientific" or the "Company")
Result of Placing, Subscription and Additional Fundraising
London, UK - 12 June 2017: On 25 May 2017, NetScientific, the transatlantic healthcare IP commercialisation Group, announced a conditional Placing and Subscription to raise approximately £8.1m, (the "Initial Offer"), and an Additional Fundraising (the "Additional Fundraising") both before expenses.
The Additional Fundraising closed for acceptances at 11.00 a.m. on 9 June 2017. The Company is pleased to announce that it has received valid requests for subscriptions in respect of 45,700 Additional Fundraising Shares. This represents 0.1 per cent. of the Company's share capital as enlarged by the Initial Offer and the Additional Fundraising. The Company has therefore raised a total of £8.1 million, before expenses, from Initial Offer and Additional Fundraising.
The New Ordinary Shares to be issued pursuant to the Initial Offer and Additional Fundraising remain subject to the passing of the Resolutions at the General Meeting to be held at the offices of DLA Piper UK LLP, 3 Noble St, London EC2V 7EE at 11.00 a.m. today and Admission (as defined below).
Capitalised terms in this announcement have the meanings given to them in the Circular dated 26 May 2017.
Applications have been made to the London Stock Exchange for 17,962,362 New Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission, subject to the passing of the Resolutions, is expected to commence at 8.00 am on 13 June 2017. Following Admission, the New Ordinary Shares will rank pari passu with the existing Ordinary Shares.
On Admission, the Company's issued share capital will comprise 69,038,057 Ordinary Shares, none of which will be held in treasury. Each Ordinary Share carries the right to one vote and therefore the total number of voting rights in the Company on admission will be 69,038,057. This figure may be used by shareholders and other investors as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
Inside Information
This announcement contains inside information. The person responsible for arranging for the release of this announcement on behalf of the Company is Ian Postlethwaite, the Company's Chief Financial Officer.
A copy of this announcement has been posted on the Company's website at http://www.netscientific.net/
For more information, please contact:
NetScientific plc | ||||
François R. Martelet, M.D., CEO | Tel: +44 (0)20 3514 1800 | |||
Ian Postlethwaite, CFO | ||||
Stifel Nicolaus Europe Limited (NOMAD, broker and bookrunner) | Tel: +44 (0)20 7710 7600 | |||
Jonathan Senior / David Arch / Ben Maddison | ||||
Liberum Capital Limited (placing agent) | Tel: +44 (0)20 3100 2000 | |||
David Parsons / Christopher Britton | ||||
Consilium Strategic Communications Mary-Jane Elliott / Jessica Hodgson / Chris Welsh / Laura Thornton netscientific@consilium-comms.com |
Tel: +44 (0)20 3709 5700
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About NetScientific
NetScientific is an IP commercialisation group focused on healthcare with an investment strategy focused on sourcing, funding and commercialising technologies that significantly improve the health and well-being of people with chronic diseases. For more information, please visit the website at www.netscientific.net
Stifel Nicolaus Europe Limited ("Stifel") is authorised and regulated by the FCA in the United Kingdom and is acting exclusively as nominated adviser and bookrunner to the Company (for the purposes of the AIM Rules for Companies) and no one else in connection with Admission, the Placing and the matters set out in this announcement. Stifel will not regard any other person as its customer or be responsible to any other person for providing the protections afforded to customers of Stifel nor for providing advice in relation to the transactions and arrangements detailed in this announcement for which the Company and the Directors are solely responsible and, without limiting the statutory rights of any recipient of this announcement, no liability is accepted by Stifel for the accuracy of any information or opinions contained in this announcement or for omissions of any material information for which it is not responsible. Stifel is not making any representation or warranty, express or implied, as to the contents of this announcement. The responsibilities of Stifel as the Company's nominated adviser and bookrunner solely for the purposes of the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or any Director or to any other person in respect of his decision to invest in the Company in reliance on any parts of this announcement.
Liberum Capital Limited ("Liberum"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for the Company and no other person in connection with the Placing. Liberum will not regard any other person as its customer or be responsible to any other person for providing the protections afforded to customers of Liberum nor for providing advice in relation to the transactions and arrangements detailed in this announcement for which the Company and the Directors are solely responsible and, without limiting the statutory rights of any person to whom this announcement is issued, no liability is accepted by Liberum for the accuracy of any information or opinions contained in this announcement or for the omission of any material information for which it is not responsible. Liberum is not making any representation or warranty, express or implied, as to the contents of this announcement.