InnovaDerma PLC Placing (7434R)
14 December 2016 - 8:45PM
UK Regulatory
TIDMIDP
RNS Number : 7434R
InnovaDerma PLC
14 December 2016
This announcement must not be sent or transmitted, directly or
indirectly, into the United States, Australia, Canada or Japan and
is not for distribution, directly or indirectly in the United
States, Australia, Canada or Japan or any other jurisdiction where
the extension or availability of the Fundraising (and any other
transaction contemplated thereby) would (i) result in a requirement
to comply with any governmental or other consent or any
registration filing or other formality which InnovaDerma regards as
unduly onerous, or (ii) otherwise breach any applicable law or
regulation.
InnovaDerma PLC
("InnovaDerma" or the "Company")
Placing
InnovaDerma (LON: IDP), a UK developer of 'at-home' and
clinically proven treatments for hair loss, hair care, self-tanning
and skin rejuvenation, is pleased to announce that the Company has
raised GBP800,000 before expenses through a placing by Hybridan LLP
of 727,273 new ordinary shares (the "Placing Shares") at a placing
price of 110 pence per share.
Use of proceeds
The Company has continued to receive strong demand for its
products and therefore the key funding priority is to build stock
levels at a faster pace to fulfil any increase in demand from
various markets in the second half of our financial year in
2017.
Presentation
The Company has updated its corporate presentation on its
website, http://www.innovaderma.com/investor-relations/ to include
clarifications and corrections to some statements.
Haris Chaudhry, Executive Chairman said:
"Following our recent fundraise, we are delighted with the
further support shown by investors which will ensure we have
adequate levels of stock to meet demand in the second half of our
financial year in 2017."
Details of the Placing
Placing Price 110 pence per share
------------------------------- --------------------
Number of Placing Shares 727,273
------------------------------- --------------------
Gross proceeds receivable GBP800,000.30
by the Company
------------------------------- --------------------
Number of Ordinary Shares
in issue following Admission
of the Placing Shares 11,844,236
------------------------------- --------------------
New Placing Shares as Approximately 6.1%
a percentage of the enlarged
share capital
------------------------------- --------------------
Estimated timetable of principal events
Announcement of the Placing 14 December 2016
------------------------------ ------------------------------
Admission of Placing 22 December 2016
Shares
------------------------------ ------------------------------
New Ordinary Shares in As soon as possible following
uncertificated form expected Admission of the Placing
to be credited to accounts Shares
in CREST
------------------------------ ------------------------------
Settlements and Dealings
Applications will be made for the Placing Shares to be admitted
to the Standard Listing segment of the UK Listing Authority and to
trading on the Main Market of the London Stock Exchange. Admission
of the Placing Shares is expected to become effective on 22
December 2016 and the Placing Shares will rank pari passu with the
existing ordinary shares of the Company. Following Admission, the
Company will have 11,844,236 ordinary shares in issue. This figure
(11,844,236), is the number which may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interests in, the Company under the FCA's Disclosure and
Transparency Rules.
Further enquiries:
InnovaDerma
Haris Chaudhry/Joe Bayer +61 (0)3 9111 0071
--------------------------- -----------------------
Sole broker
Hybridan LLP
Claire Noyce +44 (0)203 764 2341
--------------------------- -----------------------
Cardew Group
Shan Shan Willenbrock
David Roach
Emma Ruttle + 44 (0)20 7930 0777
--------------------------- -----------------------
About InnovaDerma:
InnovaDerma PLC (LSE: IDP) specializes in the research,
manufacture and marketing of clinically proven products in hair
loss, anti-ageing and beauty sectors. InnovaDerma has presence in
the UK, US, Australia, New Zealand, Philippines, South Africa, Hong
Kong and South Korea.
www.innovaderma.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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