8th Apr 2009 07:00
For immediate release
8 April 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 existing and new investors 2,149,332 shares at 3p per share raising £64,480 before expenses.
The 2,149,332 new ordinary shares, which will represent 9.46 per cent of the enlarged issued share capital of the Company (22,729,882 ordinary shares), will rank pari passu in all respects with the existing ordinary shares in the Company.
Mr Tim Shilton a Director of the Company has purchased 166,666 shares bringing his total holding to 193,632 this represents 0.85 per cent of the enlarged issued share capital of the Company.
Percy Lomax Chairman and Chief Executive commented:
'ReGen has now raised £238,185 this year in a very difficult 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 and would point out this share allocation represents 9.46 per cent of the enlarged share capital.'
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 15 April 2009.
For further information, please contact:
Percy LomaxReGen Therapeutics PlcTel: 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