12th Jun 2009 12:05
For immediate release
12 June 2009
ReGen Therapeutics Plc
Issue of Shares
ReGen Therapeutics Plc ("ReGen" or the "Company"), (AIM: RGT) is pleased to announce that it has placed, with an existing shareholder, 500,000 shares at 3p per share raising £15,000 before expenses for general working capital purposes.
The 500,000 new ordinary shares, which will represent 1.85 per cent of the enlarged issued share capital of the Company (27,029,882 ordinary shares), will rank pari passu in all respects with the existing ordinary shares in the Company.
Percy Lomax Chairman and Chief Executive commented:
'ReGen has now raised £367,185 this year in a very difficult but improving market and in view of the Company's reduced Working Capital requirements the sums raised go a long way to satisfying the Company's need for capital until we reach sustainable profitability. I know shareholders are concerned about dilution but would point out that this share allocation represents 1.85% per cent of the enlarged share capital and has been issued to an existing investor whose ongoing support and faith in the Company is reassuring in these economic conditions.'
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 or around Thursday 18 June 2009.
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 9820
Related Shares:
TILS.L