12/05/2006
ReGen Therapeutics Plc (‘ReGen’ or the ‘Company’) announces that it has placed through its brokers J M Finn & Co with new and existing shareholders 82,000,000 new ordinary shares at 1p per share to raise £820,000, before expenses (‘Placing’)
Application will be made for 77,500,000 of these 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 25 May 2006. Application will be made for the balance of 4,500,000 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 8 June 2006.
Subsequent to the above Placing, the new enlarged share capital of the Company will be 583,304,442 ordinary shares (the ‘Enlarged Share Capital’).
Mr Peter Garrod, a Director of ReGen, is subscribing for 2,500,000 new ordinary shares in the Placing making his total holding 63,750,000 representing 10.93% of the Enlarged Share Capital.
Executive Chairman Percy Lomax commented, ‘The capital raised will be used to fund the proposed Phase IIa trials of zolpidem and development of Colostrinin(TM) for marketing’.
All new ordinary shares will rank pari passu with the existing ordinary shares of 0.1p each in the Company.
For further information, please contact:
Andrew Marshall
Greycoat Communications
Tel. 020 7960 6007
Mobile: 07785 297111