14th Apr 2008 07:00
Henderson Morley PLC14 April 2008 14 APRIL 2008 HENDERSON MORLEY PLC (AIM) Business: Drug Discovery Company Placing raises £500,000 Henderson Morley plc ("the Company") announces that it has raised £500,000,before expenses, via a placing ("the Placing") by Hybridan to institutional andother investors of 83,333.332 new Ordinary shares of 0.125 pence in the Companyat a price of 0.6 pence per share. Andrew Knight and Dr Ian Pardoe, directors of the Company, have subscribed£51,000 and £30,000 for 8,500,000 and 5,000,000 new ordinary shares respectivelyas part of the Placing. 6,400,000 and 5,000,000 of these shares will be held intheir respective Self Invested Pension Plans. The Directors, other than MessrsKnight and Pardoe, having consulted with the Company's nominated adviser, BrewinDolphin Investment Banking, believe that the terms of this transaction are fairand reasonable insofar as shareholders are concerned. Following the Placing, Messrs Knight and Pardoe will own 83,653,764 and49,727,751 shares respectively, representing 14.54% and 8.64% respectively ofthe Company's enlarged issued share capital. The purpose of this Placing is to provide the Company with working capital tocontinue to invest in its research and development and intellectual property. The Placing is conditional on the admission of the new ordinary shares totrading on AIM and therefore application has been made for the new shares to beadmitted to AIM and trading in the new shares is expected to commence on 17April 2008. --ENDS-- ENQUIRIES: HENDERSON MORLEY PLC Tel: 0121 442 4600Andrew Knight, Chairman HYBRIDAN LLP Tel: 0203 159 5085Claire Louise NoyceStephen Austin BREWIN DOLPHIN INVESTMENT BANKING Tel: 0113 241 0126Neil Baldwin BISHOPSGATE COMMUNICATIONS LTD Tel: 020 7562 3350Maxine BarnesNick Rome This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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