Issue of Equity

20 Nov 2007 15:32

EpiStem Holdings plc20 November 2007 For release: 20th November 2007 Placing Announcement Epistem Holdings Plc (the "Company"), the biotechnology company whichcommercialises adult stem cells in the areas of oncology and gastrointestinaldiseases, announced today that it has raised £1,065,703.78 by a placing of653,806 Ordinary Shares of £0.015 each at an issue price of £1.63 per share, themid market price at the time the placing was agreed. The Company will use the proceeds of this placing to accelerate the developmentof its high sensitivity gene expression biomarker technology. The biomarkerplatform analyses changes in gene expression from RNA extracted from cellslocated at the base of a single human plucked hair. Epistem has developed thebiomarker platform to identify drug-induced changes in gene expression forapplication in preclinical and clinical drug development. The shares issued pursuant to the Placing were placed on 15th November 2007 withthe following existing shareholders of the Company: 306,903 Ordinary Shares with Calculus Capital Limited; 306,903 Ordinary Shares with Helium Special Situations Fund; and 40,000 Ordinary Shares with New Star Asset Management. The Company confirms that it has sufficient authorised but unissued sharecapital to effect the Placing and that the directors have been granted thenecessary authority by the shareholders under section 80 of the Companies Act1985 and that the statutory pre-emption rights under section 89 of the CompaniesAct 1985 have been disapplied in relation to the Placing Shares. The PlacingShares will rank pari passu with the existing ordinary shares of £0.015 in thecapital of the Company. The Placing has been arranged by Landsbanki Securities(UK) Limited. As a result of the Placing, the issued share capital of the Company willincrease to 7,191,883 Ordinary Shares of £0.015 each. The above figure of 7,191,883 Ordinary Shares may be used by shareholders in theCompany as the denominator for the calculations by which they will determine ifthey are required to notify their interest in, or a change in their interest in,the share capital of the Company under the FSA's Disclosure and TransparencyRules. Application has been made for, and the Placing is conditional upon, admission ofthe 653,806 shares to trading on AIM. It is expected that Admission will becomeeffective and dealings will commence at 8:00 a.m. on 21 November 2007. For further information, please contact: Matthew WallsCEO Epistem Holdings PlcTel: +44 (0)161 606 7258 Thilo HoffmanLandsbanki Securities (UK) LimitedTel: +44 (0)207 426 9000 Mike Wort / Anna DunphyMC Bio-Communications LimitedTel: +44 (0)207 744 7711 This information is provided by RNS The company news service from the London Stock Exchange