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Plant Impact Plc Announces Open Offer Of Up To 5,044,463 Ordinary Shares; Completes GBP1,255,000 Placing


Friday, 7 Dec 2012 02:00am EST 

Plant Impact Plc announced that it has completed a placing, subject only to Admission through WH Ireland Limited, to raise approximately GBP1,255,000 from the issue of 8,964,283 new ordinary shares (Ordinary Shares) at a price of 14p per share. Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on December 13, 2012. Following the Placing, the number of Ordinary Shares in issue will increase to 59,408,922. In addition, the Company also announced a share issue to raise up to approximately GBP706,225 (before expenses) through the issue of up to 5,044,463 new Ordinary Shares by way of an open offer at 14 pence per new Ordinary Share. The Open Offer is being made on the basis of 1 Ordinary Share for every 10 Ordinary Shares held and Shareholders will be able to apply for more Open Offer Shares pursuant to the Excess Application Facility.The funds raised from the Placing and the Open Offer will be used to fund: the recruitment of local teams to support the Company's planned launches in the European horticulture, US turf and Brazilian soya markets; the establishment of a marketing function that will refine further the priority sectors for the Company and develop marketing and sales campaigns in support of the lead opportunities; and investment in research & development to leverage the collaboration opportunities consequent upon the Company's move to the Rothamsted Agricultural Research Institute. 

Company Quote

26.5
0.0 +0.00%
19 Sep 2014