2nd Jun 2006 07:30
Tepnel Life Sciences PLC02 June 2006 Tepnel Life Sciences plc ('Tepnel' or 'the Company') Issue of equity Manchester, UK, 02 June, 2006 - Tepnel Life Sciences PLC (AIM: TED), theUK-based international Molecular Diagnostics and Research Products & Servicesgroup, is pleased to announce that it has successfully raised £1.2m (beforeexpenses) by placing 17,034,160 new ordinary shares of 1p each ("Placing Shares") at 7p per share with institutional shareholders ("the Placing"). These fundswill be used in part for the completion of the Company's new 18,000ft2 facilityin Livingston, Scotland and will also provide additional working capital asrequired by an increase in sales. This facility will allow for theconsolidation of operations in Edinburgh and Glasgow and will incorporatepharmaceutical services including high throughput genotyping and proteinanalysis. 4,258,540 warrants to subscribe for 4,258,540 new ordinary shares of 1p each arebeing made available under the Placing on the basis of one warrant for everyfour Placing Shares subscribed for under the Placing ("Warrants"). The Warrantsare exercisable at any time up to the fifth anniversary of admission on thePlacing Shares to trading on AIM at a price of 8.05p per Warrant. The Warrantswill not be listed on AIM or any other stock exchange. Ben Matzilevich, CEO commented "We are executing against our strategic plan. Wecontinue to improve our results while increasing our market share with major UKpharmaceutical companies. This facility in Scotland is an essential componentof the long term strategy and should also allow us to offer gene analysis,sequencing and proteomics." Application has been made for the admission of the Placing Shares to trading onthe AIM market of the London Stock Exchange on 6 June 2006. The Placing Shareswill rank pari passu with the existing ordinary shares of the Company. - ends - Enquiries: For Further Information: Tepnel Life Sciences plcBen Matzilevich, CEO0161 946 2200 De Facto CommunicationsRichard Anderson020 7861 3838 Notes to Editors About Tepnel Life Sciences plc Tepnel is a UK-based international life sciences company focused on moleculardiagnostics and research products and services including DNA purification kitsand reagents, scientific services for nucleic acid purification, drug analysis,genotyping and genetically modified foods. Tepnel was founded in 1992 to exploitDNA technology generated at UMIST (University of Manchester Institute of Scienceand Technology) and is quoted on the AIM market of the London Stock Exchange(AIM: TED). More information on Tepnel can be found at www.tepnel.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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