Omega Diagnostics Group PLC Result of Proposed Fundraising (7598J)
30 June 2017 - 9:13PM
UK Regulatory
TIDMODX
RNS Number : 7598J
Omega Diagnostics Group PLC
30 June 2017
THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL ("RESTRICTED JURISDICTION"). THIS ANNOUNCEMENT IS
NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. THE
SECURITIES DISCUSSED HEREIN HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US
SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER
THE US SECURITIES ACT. NO PUBLIC OFFERING OF THE SECURITIES
DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES AND THE
INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFERING OF
SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN,
SINGAPORE OR THE REPUBLIC OF SOUTH AFRICA.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION
TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN OMEGA
DIAGNOSTICS GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER
OR SOLICITATION WOULD BE UNLAWFUL.
30 June 2017
Omega Diagnostics Group plc
Confirmation of successful GBP2.6 million fundraise subject to
shareholder approval
Omega (AIM: ODX), the medical diagnostics company focused on
allergy, food intolerance and infectious disease, is pleased to
announce that, following the announcement of earlier today, the
Company has raised a total of GBP2.6 million (before expenses) with
new and existing investors of 13,116,881 Placing Shares and
1,166,666 Subscription Shares at a price of 18 pence per share.
Richard Sneller and Legal & General Investment Management
Limited have agreed to subscribe for 2,222,222 and 1,840,533 New
Ordinary Shares respectively as part of the Placing. These
investors are related parties of the Company for the purposes of
the AIM Rules by virtue of their status as substantial shareholders
of the Company. The Directors consider, having consulted with the
Company's nominated adviser, finnCap, that the terms of the
Fundraising with such related parties are fair and reasonable
insofar as the Company's shareholders are concerned.
David Evans, Andrew Shepherd, Colin King, Kieron Harbinson and
Jag Grewal have agreed to subscribe for 1,111,111, 111,111,
277,777, 55,555 and 53,333 New Ordinary Shares respectively as part
of the Fundraising. Each of them is a related party of the Company
for the purposes of the AIM Rules by virtue of their status as
Directors of the Company. William Rhodes, being the independent
director for this purpose, considers, having consulted with the
Company's nominated adviser, finnCap, that the terms of the
Fundraising with such related parties is fair and reasonable
insofar as the Company's Shareholders are concerned.
The Fundraising is subject to the passing of the Resolutions at
the General Meeting. Shareholder approval in respect of the
Fundraising will be sought at the General Meeting which is being
convened for 10:00 a.m. on 18 July 2017 at the offices of the
Company at Omega House, Hillfoots Business Village, Alva FK12 5DQ.
Provided that the Resolutions are passed and the Fundraising has
otherwise become unconditional, completion of the Fundraising is
expected to take place on 19 July 2017.
A Circular and a Notice of General Meeting will be posted to
Shareholders shortly and will be available shortly on Omega's
website, www.omegadiagnostics.com
Capitalised terms not otherwise defined in this announcement
shall have the same meaning ascribed to such terms in the
announcement released earlier today unless the context requires
otherwise.
Andrew Shepherd, CEO of Omega, commented:
"We are delighted to have received such strong support from both
existing and new shareholders for this fundraising. Combined with
internally generated cash, the funding will allow the Board to
capitalise on opportunities identified across all three of our
business segments in order to accelerate the Company's growth
profile and generate future growth in shareholder value."
Contacts:
Omega Diagnostics Group Tel: 01259 763 030
PLC
Andrew Shepherd, Chief www.omegadiagnostics.com
Executive
Kieron Harbinson, Group
Finance Director
Jag Grewal, Group Sales
and Marketing Director
finnCap Ltd Tel: 020 7220 0500
Geoff Nash/James Thompson
(Corporate Finance)
Mia Gardner (Corporate
Broking)
Walbrook PR Limited Tel: 020 7933 8780 or
omega@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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