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IN BRIEF: Aptamer raises GBP310,772 through subscription and placing

19th Sep 2023 21:57

Aptamer Group PLC - York-based biotech firm - Raises GBP310,772 through the issue of around 28.3 million shares by way of a subscription and a placing to certain existing shareholders at 1.1p per share. Explains the fundraise was initiated following approaches from existing non-UK shareholders who could not be contacted in time to participate in the August 2023 fundraise and extended to take advantage of demand from other existing shareholders. Notes the fundraise includes a subscription by Adam Hargreaves, a non-executive director, for 5 million shares for a total investment of GBP55,000. Following this further investment, Hargreaves now holds a 4.8% stake in the company. In addition, Nicholas Slater, an existing investor spends GBP50,000 for around 4.5 million shares, taking his holding to 5.6% of the enlarged issued share capital. Net proceeds will be ringfenced to support research and development activities within the business, including the ongoing process improvements. R&D work was reduced as part of the company's new strategy to support cost-cutting in August.

Current stock price: 1.32 pence, up 12% in London on Tuesday

12-month change: down 99%

By Jeremy Cutler, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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