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24 Jan 2014 15:22
ViaLogy plc ("ViaLogy" or "the Company")
Result of Open Offer
On 7 January 2014, the Board of ViaLogy plc announced details of a conditional Placing to raise £1.1 million (before expenses) through the issue of 1,100,000,000 Ordinary Shares at an Issue Price of 0.1p per share and an Open Offer to raise up to a further £519,820 through the issue of up to 519,820,122 Ordinary Shares at an Issue Price of 0.1p per share.
The Open Offer closed for acceptances at 11.00a.m. on 22 January 2014. The Company is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 878,895,138 Open Offer Shares, including applications for 510,908,276 Open Offer Shares under the Excess Application Facility. This represents 169 per cent of the maximum Open Offer Shares available under the Open Offer and as such the Open Offer has been oversubscribed.
Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement and, following a pro-rata scaling back, approximately 29.718 per cent of any Open Offer Shares they applied for under the Excess Application Facility. The Company has therefore raised the maximum gross proceeds of £519,820 (before expenses) through the Open Offer.
Both the Placing and Open Offer remain conditional upon, amongst other things, the approval by Shareholders of the Resolutions at the General Meeting of the Company to be held at 11a.m. on 27 January 2014, and the Placing Agreement becoming unconditional in all respects.
It is expected that Admission will become effective and dealings in the Open Offer Shares will commence on 28 January 2014.
Capitalised terms used in this announcement are as defined in the shareholder circular.
A further announcement will be made in due course.
For further information:
ViaLogy PLC
Mark Collingbourne mark.collingbourne@vialogy.com
Nominated Advisor to ViaLogy PLC (Cantor Fitzgerald Europe)
Mark Percy / Catherine Leftley - Corporate Finance +44 (0) 207 894 7000
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