TILS.L Regulatory News (TILS)

15 Sep 2005 08:05

ReGen Therapeutics PLC15 September 2005 15 September 2005ReGen Therapeutics Plc ReGen Therapeutics Plc places £1,556,000 of shares FIRM PLACING ReGen Therapeutics Plc ("ReGen" or the "Company") announces that it has todayplaced through its brokers J M Finn & Co with new and existing shareholders89,000,000 new ordinary shares at 1p per share to raise £890,000, beforeexpenses ("Placing") Application will be made for these 89,000,000 new ordinary shares to be admittedto the AIM Market of the London Stock Exchange Plc. CONDITIONAL PLACING In addition to the above, ReGen has also placed through J M Finn & Co with newand existing shareholders 66,600,000 new ordinary shares at 1p per share toraise £666,000, before expenses, conditional upon shareholder approval.Accordingly, in this regard ReGen will shortly send to shareholders a circularcontaining a notice convening an extraordinary general meeting of the Company(the "Circular") for 10.00 a.m. on 10 October 2005 (the "EGM"). The Directors of the Company are also seeking at the EGM authorities to grantwarrants over 4,000,000 new ordinary shares to J M Finn & Co in connection withthe Placing. In addition, the Directors of the Company are also seeking at theEGM renewal of their general authorities to issue shares and/or othersecurities, such general authority being last granted to them at the AnnualGeneral Meeting of the Company held on 26 April 2005. If shareholder approval is granted at the EGM, application will be made for66,600,000 new ordinary shares to be admitted to the AIM Market of the LondonStock Exchange Plc and dealings are expected to commence at 8 a.m. on 13 October2005. Subsequent to the above firm and conditional placing, the new enlarged sharecapital of the Company on 13 October 2005 will be 499,741,942 ordinary shares(the "Enlarged Share Capital"). Five directors are subscribing for new ordinary shares in the Placing: Mr PeterGarrod is subscribing for 22,500,000 new ordinary shares making his totalholding 61,250,000, representing 12.26% of the Enlarged Share Capital. Mr PercyLomax is subscribing for 500,000 new ordinary shares making his total holding2,282,069 representing 0.46% of the Enlarged Share Capital. Mr Martin Small issubscribing for 900,000 new ordinary shares making his total holding 2,248,736representing 0.45% of the Enlarged Share Capital. Mr Norman Lott is subscribingfor 150,000 new ordinary shares making his total holding 182,000 representing0.04% of the Enlarged Share Capital. Mr Tim Shilton is subscribing for 500,000new ordinary shares which is his total shareholding in the Company andrepresents 0.1% of the Enlarged Share Capital. Executive Chairman Percy Lomax commented, "This fundraising will enable ReGen tocontinue its development programme. I would remind investors that we are stillanticipating revenue generation from our ColostrininTM activities in 2006". All new ordinary shares will rank pari passu with the existing ordinary shares of 0.1p each in the Company. Copies of the Circular will be available, for collection only, free of charge tothe public, from the Company, Suite 406, Langham House, 29-30 Margaret Street,London W1W 8SA during normal office hours on any day (Saturdays, Sundaysexcepted) from 19 September 2005 until 14 October 2005. For further information, please contact: Andrew MarshallMarshall Robinson RoeTel. 020 7960 6007 This information is provided by RNS The company news service from the London Stock Exchange