18 Feb 2009 07:00
For immediate release 18 February 2009
ReGen Therapeutics Plc
Issue of Shares
Shareholdings
ReGen Therapeutics Plc ("ReGen" or the "Company"), (AIM: RGT) announces that it has placed with existing and new investors 2,171,834 shares at 3p per share raising £65,155.02p before expenses.
The 2,171,834 new ordinary shares, which will represent 11.98 per cent of the enlarged issued share capital of the Company (18,128,884 ordinary shares), will rank pari passu in all respects with the existing ordinary shares in the Company.
Percy Lomax, the Chairman and Chief Executive has acquired 166,000 new ordinary share in this placing on the same terms making his total share holding 219,787 shares which represents 1.21 per cent of the enlarged share capital of the Company.
Percy Lomax commented:
'ReGen is delighted with the support of existing shareholders and we are also pleased to have attracted a further outside investor who may provide further support. The Company draws attention to the fact that it believes its trading position is improving. The product is now on sale in Poland and Cyprus in the European Union. We have recently signed a significant deal in Turkey and further significant deals are expected within the first half of 2009.'
The Company have been informed that further to shares acquired under the placing, Mr Andrew Hooker now holds 677,076 ordinary shares or 3.73 per cent of the enlarged share capital.
At the same time Mr Tigran Kalaydjian has accepted through Unokal Limited 100,000 shares, which will rank pari passu will all existing ordinary shares, valued at 10p per share in return for services performed through Unokal Limited. This together with his existing shares represents a total holding of 643,000 shares or 3.55 per cent of the enlarged share capital.
Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM and dealings in the new ordinary shares are expected to commence on or around 23 February 2009.
For further information, please contact:
Percy Lomax
ReGen Therapeutics Plc
Tel: 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish Limited
Tel No 020 7628 3396
David Scott/Nick Bealer
Alexander David Securities Limited
Tel: 020 7448 9820