06/02/2007
ReGen Therapeutics Plc places 151,841,668 shares
ReGen Therapeutics Plc (‘ReGen’ or the ‘Company’) announces that it has placed through its brokers, HB Corporate, with new and existing shareholders 151,841,668 new ordinary shares at 0.75p per share to raise £1,138,812.51, before expenses (‘Placing’).
Application will be made for these 151,841,668 new ordinary shares to be admitted to the AIM Market of the London Stock Exchange Plc and dealings are expected to commence at 8am on 9 February 2007.
Executive Chairman Percy Lomax commented, ‘This money will be used for the continuing development of the Company’s programmes in nutraceutical Colostrinin(TM), zolpidem and the Colostrinin(TM) peptides for pharmaceutical use.’
All new ordinary shares will rank pari passu with the existing ordinary shares of 0.1p each in the Company.
Five of the Company’s directors are subscribing for new ordinary shares in the placing: Mr Percy Lomax is subscribing for 341,667 new ordinary shares making his total holding 2,623,736 ordinary shares, representing 0.31% of the enlarged share capital. Mr Timothy Shilton is subscribing for 666,667 new ordinary shares making his total holding 1,166,667 ordinary shares, representing 0.14% of the enlarged share capital. Mr Martin Small is subscribing for 333,333 new ordinary shares making his total holding 2,581,333 ordinary shares, representing 0.31% of the enlarged share capital. Mr Keith Corbin is subscribing for 666,667 new ordinary shares making his total holding 1,771,667 ordinary shares, representing 0.21% of the enlarged share capital. Dr Peter Garrod is subscribing for 5,000,000 new ordinary shares making his total holding 71,750,000 ordinary shares representing 8.48% of the enlarged share capital.
For further information, please contact:
Andrew Marshall
Greycoat Communications
Tel. 020 7960 6007
Mobile 07785 297111
Rod Venables/Cecil Jordaan
HB Corporate
Tel. 020 7510 8600
Percy Lomax
ReGen Therapeutics
Tel. 020 7907 0910