Genedrive PLC Equity Prepayment Facility drawdown (1233V)
30 November 2023 - 4:25AM
UK Regulatory
TIDMGDR
RNS Number : 1233V
Genedrive PLC
29 November 2023
genedrive plc
("genedrive" or the "Company")
Equity Prepayment Facility drawdown
Application for Listing
Total Voting Rights
genedrive plc (LSE: GDR), the point of care molecular
diagnostics company, today announces a further scheduled GBP300,000
draw down under the terms of the GBP5m Equity Prepayment Facility,
which was previously announced by the Company on 31 March 2023.
Investors have been granted 1,614,669 warrants equal to 40% of this
drawdown divided by the Reference Price of 7.43186 pence. The
exercise price of the warrants payable to the Company will be 140%
of the Reference Price equating to 10.4046 pence.
Capitalised terms in this announcement shall, unless the context
demands otherwise, bear the meanings given to such terms in the
announcement of the Facility made via RNS on 31 March 2023.
In order to support the further drawdown and delivery of the
GBP5m Equity Prepayment facility that was announced on 31 March
2023, application will be made for the Admission to trading on AIM
of 3,300,000 new Ordinary Shares of 1.5p each ("New Ordinary
Shares"). Admission of the New Ordinary Shares ("Admission") is
expected to occur on 5 December 2023. Following Admission, the New
Ordinary Shares will rank pari passu in all respects with the
Company's existing ordinary shares.
Following Admission the Company's issued share capital will
consist of 111,739,946 Ordinary Shares of 1.5p each and this figure
may be used by shareholders as the denominator for the calculations
by which they should determine if they are required to notify their
interest in, or change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.
For further details please contact:
genedrive plc +44 (0)161 989 0245
James Cheek: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser
and Joint Broker) +44 (0)20 7418 8900
James Steel / Patrick Birkholm
Walbrook PR Ltd (Media & Investor +44 (0)20 7933 8780 or genedrive@walbrookpr.com
Relations)
Anna Dunphy +44 (0)7876 741 001
About genedrive plc ( http://www.genedriveplc.com )
genedrive plc is a pharmacogenetic testing company developing
and commercialising a low cost, rapid, versatile, simple to use and
robust point of need pharmacogenetic platform for the diagnosis of
genetic variations. This helps clinicians to quickly access key
genetic information that will help them make the right choices over
the right medicine or dosage to use for an effective treatment.
Based in the UK, the Company is at the forefront of work on Point
of Care pharmacogenetics. Pharmacogenetics looks at how your
genetics impacts a medicines ability to work for you. Therefore by
using pharmacogenetics, medicines can be made safer and more
effective. The Company has launched its flagship product, the
Genedrive(R) MT-RNR1 ID Kit, which is a single-use disposable
cartridge which circumvents the requirement for cold chain
logistics by providing temperature stable reagent test kits for use
on their proprietary test platform. This test allows clinicians to
make a decision on antibiotic use within 26 minutes, ensuring vital
care is delivered with no negative impact on the patient
pathway.
The Company has a clear commercial strategy focused on
accelerating growth through maximising in-market sales, geographic
and portfolio expansion and strategic M&A, and operates out of
its facilities in Manchester.
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END
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