Venn Life Sciences Holdings PLC: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Armscote Investment Co PLC Announces Proposed Acquisition of Venn Life Sciences Limited; Placing To Raise GBP2.50 Million; Name Change
Armscote Investment Co PLC announced an agreement to acquire Venn Life Sciences Limited (Venn), a Clinical Research Organisation (CRO) for a total consideration of GBP2.88 million to be satisfied by the issue of 9,600,000 Ordinary Shares at 30 pence per share. The Company also announced that it is proposing to raise GBP2.5 million (before expenses) by way of a conditional placing by the Company with investors of the Placing Shares at the Placing Price. The Placing Shares will represent approximately 41.5% of the Enlarged Share Capital at Admission. Pursuant to the Placing Agreement, entered into between the Company, the Directors, Proposed Directors and Zeus Capital, Zeus Capital has agreed to use its reasonable endeavours to place the Placing Shares and the Company and the Directors and Proposed Directors have given certain warranties and the Company has given an indemnity to Zeus Capital, all of which are normal for this type of agreement. The estimated net proceeds of the Placing are approximately GBP2.05 million and will be used for working capital. The Placing Shares will rank pari passu in all respects with the Ordinary Shares and will be issued credited as fully paid. The Company also announced change of name of the Company to Venn Life Sciences Holdings plc.
Latest Developments for Venn Life Sciences Holdings PLC
- Venn Life Sciences Holdings PLC announces acquisition of Belfast based CRO
- Venn Life Sciences Holdings PLC Announces Launch of Innovation Division and Co-Development Initiative
- Venn Life Sciences Holdings PLC Announces Senior Management Appointments
- Venn Life Sciences Holdings PLC Establishes Joint Venture in Russia
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