15th Sep 2008 07:00
15 September 2008
ReGen Therapeutics Plc
Issue of Shares
As announced by ReGen Therapeutics Plc ("ReGen" or the "Company"), (AIM: RGT) on 14 September 2005, ReGen had entered into a £2,000,000 equity credit facility agreement with Headstart Group of Funds ("Headstart") to provide a drawdown of monies in exchange for shares in the Company (the "Facility").
In accordance with the terms of the Facility and pursuant to a drawdown notice from the Company issued on 18 August 2008, Headstart has now subscribed for 1,052,632 new ordinary shares at 10p per share. Additionally a long term shareholder is subscribing for a further 100,000 shares at the same price. This will provide the Company with £110,000, before expenses.
The 1,152,632 new ordinary shares, which will represent 8.89 per cent of the enlarged issued share capital of the Company (12,968,521 ordinary shares), will rank pari passu in all respects with the existing ordinary shares in the Company.
Application has been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM and dealings in the new ordinary shares are expected to commence on 18 September 2008.
Percy Lomax Chairman of the Company commented that in the tight credit conditions prevailing ReGen's line of equity credit has proved very useful and the Company is careful to match its expenditure to its anticipated revenues and cash resources.
For further information, please contact:
Percy Lomax
ReGen Therapeutics Plc
Tel: 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish Limited
Tel No 020 7628 3396
David Scott/Nick Bealer
Alexander David Securities Limited
Tel: 020 7448 9800
Adrian Duffield/Jon Davies
College Hill Associates
Tel No 020 7457 2020
Related Shares:
TILS.L