3rd Nov 2005 15:19
Stem Cell Sciences plc03 November 2005 3 November 2005 Stem Cell Sciences plc (the "Company") On 2 November 2005 the Company granted an option (the "Option") to subscribe for280,000 Ordinary Shares of 50p each in the capital of the Company ("OrdinaryShares") to Brandon Capital Management Pty Limited ("Brandon"). The exercise price for the exercise of the Option is 97p per Share and theOption is exercisable by Brandon on or prior to 22 October 2008. The Option istransferable only with the prior written consent of the Company. The Option is being granted at the request of Australian Biotechnology andHealthcare Fund No.3 Limited ("ABHF"), an existing option holder and shareholderof the Company. On 23 June 2005 ABHF was granted an option to subscribe for280,000 Ordinary Shares at an exercise price of 50p per share and the Option isonly being granted to Brandon on the basis that ABHF is surrendering its rightto exercise its existing option to subscribe for Ordinary Shares. ABHF is subject to an Orderly Marketing Agreement whereby they have undertaken,subject to certain limited exceptions, to sell Ordinary Shares through CollinsStewart Limited (or such other broker appointed by the Company from time totime) provided the Company's broker offers market terms for the carrying out ofsuch sale for a period of year ending on 18 July 2006. Brandon is subject to an Orderly Marketing Agreement whereby they haveundertaken, subject to certain limited exceptions, to sell Ordinary Sharesthrough Collins Stewart Limited (or such other broker appointed by the Companyfrom time to time) provided the Company's broker offers market terms for thecarrying out of such sale for a period ending on 18 July 2006. Following the lapse of the ABHF's option to subscribe for 280,000 ordinaryshares of 50p each (referred to above) ABHF will be interested in 560,000Ordinary Shares representing approximately 2.51% of the issued share capital ofthe Company and Brandon will be interested in 280,000 Ordinary Sharesrepresenting approximately 1.25% of the issued share capital of the Company. Stem Cell Sciences plc 0131 662 9829Hugh Ilyine This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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