RENE.L Regulatory News (RENE)

18 May 2009 07:00



FINAL CLOSING OF THE PLACING  AND CAPITALISATION OF LOAN NOTES

Guildford, UK, 18 May 2009: ReNeuron Group plc (LSE: RENE.L) announced on 12 March 2009 its intention to raise up to £3 million via a placing of up to 100,000,000 new ordinary shares of 1 pence each ("Ordinary Shares") credited as fully paid up at a price of 3 pence per Ordinary Share (the "Placing"). The Company has subsequently announced three successive closings of the Placing, with the issue and allotment of 66,211,111 Ordinary Shares in aggregate as a result.

The Company today announces that a further 33,722,223 Ordinary Shares have been allotted and issued at fourth and final closing of the Placing, bringing the aggregate gross proceeds of the Placing to the full £3 million. In connection with the Placing, 85,526,648 Ordinary Shares have been allotted and issued on capitalisation of £2.5 million of outstanding loan notes (together with accrued interest thereon) at a price of 3 pence per Ordinary Share. Application has been made to admit such Ordinary Shares to trading on AIM, which is expected to occur on 21 May 2009.

The Placing comprised four closings to enable certain placees to take advantage of UK Enterprise Investment Scheme ("EIS") tax treatment.

Following the fourth and final closing of the Placing and the issue of Ordinary Shares on capitalisation of all outstanding Loan Notes (together with accrued interest thereon), the issued share capital of ReNeuron Group plc now comprises 339,627,516 Ordinary Shares. Therefore, the total number of voting rights in the Company is 339,627,516. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Services Authority's Disclosure and Transparency Rules.

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About ReNeuron

ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need.

ReNeuron recently received regulatory approval to commence a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. The Company is developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina.

ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell® products for use in academic and commercial research. The Company's ReNcell®CX and ReNcell®VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation.

ReNeuron's shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.

Collins Stewart Europe Limited, Daniel Stewart & Company plc and Matrix Corporate Capital LLP, are each authorised and regulated by the Financial Services Authority, and are each acting for the Company and for no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to their respective customers or for affording advice in relation to the matters referred to herein. None of Collins Stewart Europe Limited, Daniel Stewart & Company plc and Matrix Corporate Capital LLP accepts any liability whatsoever for the accuracy or opinions contained in this document (or for the omission of any material information) and none of Collins Stewart Europe Limited, Daniel Stewart & Company plc and Matrix Corporate Capital LLP shall not be responsible for the contents of this document.