TILS.L Regulatory News (TILS)

14 Jun 2007 13:34

ReGen Therapeutics PLC14 June 2007 ReGen Therapeutics Plc ReGen Therapeutics Plc raises £1,348,062 through placing of new ordinary shares ReGen Therapeutics Plc ("ReGen" or the "Company") announces that it has todayplaced directly and through its brokers, HB Corporate, 179,741,600 new ordinaryshares of 0.1p each ("Ordinary Shares") at 0.75p per share with new and existinginvestors (the "Placing") and as a result has raised £1,348,062 before expensesof the issue. Following the Placing the Company will have in issue 1,025,887,710Ordinary Shares. The Ordinary Shares to be issued pursuant to the placing willrepresent 17.52 per cent of the enlarged issued share capital of the Company andwill rank pari passu in all respects with the existing Ordinary Shares. Application will be made to the London Stock Exchange for the 179,741,600 newOrdinary Shares to be admitted to trading on AIM and dealings in the newOrdinary Shares are expected to commence on 20 June 2007. Three of the Company's directors are subscribing for new Ordinary Shares in theplacing: Mr Martin Small is subscribing for 800,000 new Ordinary Shares makinghis total holding 3,382,069 Ordinary Shares, representing 0.33% of the enlargedshare capital. Mr Keith Corbin is subscribing for 1,333,333 new Ordinary Sharesmaking his total holding 3,105,000 Ordinary Shares, representing 0.30% of theenlarged share capital. Dr Peter Garrod is subscribing for 3,000,000 newOrdinary Shares making his total holding 74,750,000 Ordinary Shares representing7.29% of the enlarged share capital. Executive Chairman Percy Lomax commented, "This is the second tranche of afundraising programme begun in January 2007. This programme was designed tosupport ReGen in the run up to ColostrininTM coming to market and generatingsales and results being obtained in relation to the Company's zolpidem trials.The proceeds of this tranche will be used to continue working towards finalisingColostrininTM development, the veterinary trial, the completion of the zolpidemtrial and continuing a programme of developing the peptides to preclinicalcandidate level." For further information, please contact: Andrew MarshallGreycoat CommunicationsTel: 020 7960 6007Mobile No: 07785 297111 Rod Venables/Cecil JordaanHB CorporateTel: 020 7510 8600 Percy LomaxReGen Therapeutics PlcTel: 020 7153 4920 This information is provided by RNS The company news service from the London Stock Exchange