13 Jun 2014 07:30
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") | ||||||||||||||||||||||||||||||||||||
COMPANY NAME: | ||||||||||||||||||||||||||||||||||||
ViaLogy PLC (to be renamed Premaitha Health plc) ("the Company")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : | ||||||||||||||||||||||||||||||||||||
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COUNTRY OF INCORPORATION: | ||||||||||||||||||||||||||||||||||||
UK
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: | ||||||||||||||||||||||||||||||||||||
www.vialogy.com
To be changed following re-admission and change of name to: www.premaitha.com
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: | ||||||||||||||||||||||||||||||||||||
The Company is proposing to acquire the entire issued share capital of Premaitha Health Limited (Premaitha), which constitutes a reverse takeover under AIM Rule 14 and which, if approved by shareholders, will have the effect of changing the status of the Company from an investing company to an operating company. The so enlarged group's operations would thereafter constitute exclusively those of Premaitha.
Premaitha is a molecular diagnostic company based in the UK that has developed the IONA® test, an in vitro diagnostic non-invasive pre-natal screening test for fetal chromosomal abnormalities such as Down's syndrome. The IONA® test is based on the analysis of circulating fetal DNA in the maternal bloodstream, an approach that has been used since 2011 by several pre-natal screening companies, principally in the USA. The directors and proposed directors believe that the IONA® test will be the first regulated CE marked in vitro diagnostic non-invasive pre-natal screening product to market.
The IONA® test is a pre-natal screening test which will be offered to pregnant women to determine the risk that their fetus is affected with Down's Syndrome or other serious genetic diseases. The IONA® test is based on analysis of circulating fetal DNA: an approach that has both a higher detection rate and a lower false positive rate than existing screening tests. This means that expectant mothers can make better informed choices about their pregnancy without risk to them or their fetus.
The Company has entered into conditional acquisition agreements to acquire the entire issued share capital of Premaitha for £10.5 million to be satisfied by the issue of new ordinary shares in the Company.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): | ||||||||||||||||||||||||||||||||||||
188,163,709 new ordinary shares of 10 pence each following share consolidation and issue of consideration shares, placing shares and open offer shares
There are no shares held in treasury
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CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: | ||||||||||||||||||||||||||||||||||||
Capital to be raised: £6.50 million via a placing; up to £0.74 million via an open offer
Anticipated market value: £20.7 million
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: | ||||||||||||||||||||||||||||||||||||
Approximately 55%
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: | ||||||||||||||||||||||||||||||||||||
None
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): | ||||||||||||||||||||||||||||||||||||
Directors:
Proposed Directors:
1 to become a Non-Executive Director immediately following admission
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): | ||||||||||||||||||||||||||||||||||||
1 Rupert Lywood is a member of Animatrix Capital LLP, Loxbridge Research LLP and Zoragen Biotechnologies LLP 2 Charles Roberts is the CEO of Loxbridge Research LLP and is also a member of Zoragen Biotechnologies LLP
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: | ||||||||||||||||||||||||||||||||||||
None
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: | ||||||||||||||||||||||||||||||||||||
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EXPECTED ADMISSION DATE: | ||||||||||||||||||||||||||||||||||||
4 July 2014
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NAME AND ADDRESS OF NOMINATED ADVISER: | ||||||||||||||||||||||||||||||||||||
Cairn Financial Advisers LLP ("Cairn") 61 Cheapside London EC2V 6AX
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NAME AND ADDRESS OF BROKER: | ||||||||||||||||||||||||||||||||||||
Panmure Gordon (UK) Limited One New Change London EC4M 9AF
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: | ||||||||||||||||||||||||||||||||||||
A copy of the admission document containing full details of its securities will be available on the Company's website and at the offices of Cairn.
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DATE OF NOTIFICATION: | ||||||||||||||||||||||||||||||||||||
13 June 2014
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