23rd Jul 2013 07:00
Plant Impact plc
("Plant Impact" or the "Company")
Completion of Share Subscription
The Board of Plant Impact are delighted to announce that the Company has completed a subscription,subject only to Admission (as defined below), to raise £854,225 (before expenses) from the issue of 3,635,000 new ordinary shares in the Company ("Ordinary Shares") at a price of 23.5p per Ordinary Share (the "Subscription") to FIL Investments International ("Fidelity"). Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 26 July 2013 ("Admission").
The proceeds of the Subscription will be used to support the Company's activities in Brazil in relation to the commercialisation and marketing of its newly developed Veritas™ product under the recently signed agreement with Bayer CropScience which was announced by the Company on 18 July 2013.
John Brubaker, Chief Executive Officer of Plant Impact commented "The Company's recent launch of its business in Brazil is a key milestone in our strategic development. We are pleased for the support of Fidelity Investments at this important junction."
Following the Subscription, Fidelity will be interested in 3,635,000 Ordinary Shares representing 5.60% of the total voting rights in the issued share capital of the Company and the number of Ordinary Shares in issue will increase to 64,896,513.
There are no shares held in treasury. The above 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 to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.
As previously announced, Plant Impact is today, hosting a site visit where attendees will be able to see the operations and facilities at Rothamsted, Harpenden. The visit will include a presentation by the management team focussing on the Company's future strategy.
No material new information or update on trading will be provided.
For more information please contact:
Plant Impact plc David Jones, Chairman John Brubaker, Chief Executive Officer |
Tel: +44 (0)1582 465540 |
WH Ireland Limited Nominated Adviser and Broker to Plant Impact | |
Dan Bate | Tel: +44 (0) 161 832 2174 |
About Plant Impact
Plant Impact is a leader in plant science innovation. The Company develops and formulates products that realise and enhance crop capacity, enabling growers to improve quality and deliver consistently higher marketable yields. The Company's products and technologies are backed by a robust research and development programme, managed from its head office and research facilities at Rothamsted, Harpenden, United Kingdom. Plant Impact's shares are publicly traded on the AIM market of London Stock Exchange plc, where its ticker is PIM.
For further information please visit www.plantimpact.com
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