Integumen PLC Placing and Trading update (2320A)
22 December 2017 - 10:07PM
UK Regulatory
TIDMSKIN
RNS Number : 2320A
Integumen PLC
22 December 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 OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
LEI: 213800M477RQVVHVUD72
Integumen plc
("Integumen" or "the Company")
Placing, Trading Update and
Appointment of co-broker
Integumen (LSE: SKIN), the personal health care company
developing and commercialising technology and products for the
human integumentary system, is pleased to announce that the Company
has conditionally raised GBP500,000 before expenses through a
placing and subscription of 33,333,333 new ordinary shares of 1p
per share (the "Placing Shares") at a price of 1.5p per Placing
Share (the "Placing"), together with the issue of warrants over new
ordinary shares on the basis of one warrant for every one Placing
Share ("Placing Warrants"). The Placing Warrants will be
exercisable at a price of 1.5p per ordinary share at any time up to
five years following the date of admission of the Placing Shares to
trading on AIM ("Admission"). In addition warrants ("Broker
Warrants") will be issued to brokers Hybridan LLP (1,000,000 Broker
Warrants) and Turner Pope Investments (TPI) Limited (300,000 Broker
Warrants). The Broker Warrants will be exercisable at a price of
1.5p per ordinary share at any time up to the date five years
following Admission.
The Placing Shares have been placed with a mixture of existing
shareholders and new investors.
21,666,667 of the Placing Shares were placed by the Company's
brokers, Hybridan LLP and Turner Pope Investments (TPI) Ltd with
11,666,666 Placing Shares being subscribed directly with the
Company. Completion of the Placing and subscription is conditional
upon the terms of a Placing Agreement being fulfilled, and
Admission. Application will be made for the Placing Shares to be
admitted to trading on AIM and dealings are expected to commence on
5 January 2018. The Placing Shares will rank pari passu with the
existing ordinary shares in issue. No application is being made for
the Placing Warrants or Broker Warrants to be admitted to trading
on AIM.
Related Party Transaction
Helium Rising Stars Fund ("Helium") currently holds 17,901,712
ordinary shares in the Company, comprising 9.40% of the current
issued share capital. However Helium has been a "substantial
shareholder", as defined in the AIM Rules for Companies ("AIM
Rules") within the last 12 months, and as such Helium is a treated
as related party under the AIM Rules. Helium is subscribing
GBP50,000 for 3,333,333 Placing Shares.
All of the Company's directors are independent for the purposes
of AIM Rule 13 in relation to Helium's participation in the
Placing. Having consulted with SPARK Advisory Partners Limited, the
Company's nominated adviser, the independent directors consider
that the terms of Helium's participation in the Placing are fair
and reasonable insofar as Shareholders are concerned
Use of Proceeds
The net proceeds of the Placing will be used for:
-- marketing and distribution of the recently acquired Stoer(TM) range of male cosmetics;
-- continuing commercialisation of Visible Youth, a premium
cosmeceutical range of products for the anti-ageing market; and
-- working capital
Trading Update
The Board is reviewing its product lines to identify those that
it believes have the best commercial opportunities going forward.
This is against a background in which some of the existing product
lines are taking longer to generate the level of revenues expected
by the Board whilst others, in the Board's view, have the potential
to outperform. The Board is also reviewing its overall cost base
and will report back to shareholders in the New Year.
Appointment of co-broker
Hybridan LLP have been appointed as co-broker to the Company
with immediate effect.
Total Voting Rights
Following Admission of the Placing Shares the Company's enlarged
issued share capital will comprise 223,685,232 Ordinary Shares. The
Company does not hold any shares in treasury. Therefore, following
Admission the total number of Ordinary Shares with voting rights
will be 223,685,232. Thereafter this figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FCA's Disclosure Guidance and Transparency
Rules.
Declan Service, CEO of Integumen, said:
"We are pleased to have raised this new funding and Board
remains confident that it will maximise long-term shareholder
value"
Declan Service, + 353 (0) 87
Integumen plc CEO 770 5506
------------------------- ----------------------- ---------------------------
SPARK Advisory
Partners Limited Neil Baldwin/Andrew +44 (0) 113 370
(Nominated Adviser) Emmott 8974
------------------------- ----------------------- ---------------------------
+44 (0) 20 3621
Turner Pope Investments Ben Turner/James 4120
(TPI) Ltd (Broker) Pope
Hybridan LLP +44 (0) 203 764
(Broker) Claire Noyce 2341
------------------------- ----------------------- ---------------------------
Cardew Group Shan Shan Willenbrock +44 (0) 20 7930
David Roach 0777
integumen@cardewgroup.com
------------------------- ----------------------- ---------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAFAAAEFXFFF
(END) Dow Jones Newswires
December 22, 2017 06:07 ET (11:07 GMT)
Integumen (LSE:SKIN)
Historical Stock Chart
From Apr 2024 to May 2024
Integumen (LSE:SKIN)
Historical Stock Chart
From May 2023 to May 2024