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Pin to quick picksVenture Life Regulatory News (VLG)

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Market Cap: £79.80m
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28 Nov 2014 07:00

RNS Number : 2513Y
Venture Life Group PLC
28 November 2014
 



Venture Life Group plc

("Venture Life" or "the Company" or "the Group")

 Share Placing

 

Bracknell, UK - 28 November 2014: Venture Life Group plc (AIM: VLG), the international consumer products group addressing the self-care needs of the ageing population, announces that it has raised £4,230,000 (gross) through a subscription by existing institutional shareholders for 4,500,000 new ordinary shares of 0.3 pence per share ("Subscription Shares") at a price of 94 pence per share representing a discount of 0.5 per cent. to the closing mid-market price on 27 November 2014 (the "Subscription").

 

The Company intends to use the net proceeds of the Subscription to invest further in Business Development resource and New Product Development, as well as in the Group's manufacturing facility in Italy.

 

The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of 0.3p each in Venture Life ("Ordinary Shares"). Application has been made to the London Stock Exchange for admission to trading on AIM of the Subscription Shares ("Admission"). Completion of the Subscription is conditional on, inter alia, Admission.

 

It is expected that Admission will become effective and that dealings in the Subscription Shares will commence at 8.00 a.m. on or around 3 December 2014.

 

Following the issue and allotment of the Subscription Shares, the Company's enlarged issued ordinary share capital will comprise 34,403,534 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure of 34,403,534 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

- Ends -

 

For further information please contact:

Venture Life Group PLC

Jerry Randall, Chief Executive Officer

James Hunter, Chief Financial Officer +44 (0) 1344 742 870

 

Panmure Gordon (UK) Limited Freddy Crossley / Duncan Monteith +44 (0) 20 7886 2500Corporate Finance

Tom SalvesenCorporate Broking

 

Square1 Consulting

David Bick +44 (0) 20 7929 5599

Mark Longson

About Venture Life

Venture Life is an international consumer self-care company focused on developing, manufacturing and commercialising products for the ageing population. The Group's product range and pipeline currently include food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.

 

Through its topical development and manufacturing business, Biokosmes, the Group also provides development and manufacturing services to companies in the medical device and cosmetic sectors.

The Group's own branded products are currently sold or partnered in over 50 countries and currently include:

· food supplements to maintain brain function and memory;

· dermo-cosmetics for addressing the signs of skin ageing and hair loss, and

· medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.

 

The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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