2nd Jul 2007 07:01
Amphion Innovations PLC02 July 2007 Amphion Innovations Plc £2.1m Placing 2 July 2007 - Amphion Innovations plc ("Amphion" or the "Company"), thedeveloper of companies in the life sciences and medical technology sectors,announces that on June 29th, 2007 it conditionally raised £2,131,800 (beforeexpenses) through a placing by the Company of 9,690,000 new Ordinary Shares at22 pence per share. The net proceeds of the Placing will be used to invest in new and identifiedopportunities and for the general working capital requirements of the Company In the placing, Richard Morgan, Chief Executive Officer of Amphion has agreed tosubscribe for 3,589,910 new Ordinary Shares. Upon completion of the Placing,Richard Morgan will be interested in 20,076,613 Ordinary Shares, representing18.2 percent of the enlarged issued share capital of Amphion of 110,110,224shares. The placing is conditional only upon the new Ordinary Shares being admitted totrading on AIM. Application will be made for admission of the 9,690,000 newOrdinary Shares to trading on AIM, and dealings are expected to commence on 6July 2007. Richard C.E. Morgan, Chief Executive Officer of Amphion, commented: "We are delighted to have completed this placing with the strong support of ourcurrent shareholders as well as first time investors from the UK, Europe and theMiddle East. The completion of this placing enables us to pursue the developmentof our key programs and provides us with additional capital to continue oursupport of our Partner Companies which continue to make rapid progress." For further information, please contact: Amphion Innovations plc +1 (212) 21062Josh Berkman, Media Relations +1 (646) 7477158 Financial Dynamics 0207 831 3113John GilbertBen Atwell Seymour Pierce 020 7107 8000David NewtonSarah Jacobs About Amphion Innovations plc Amphion Innovations plc is listed on the AIM Market in London under the symbolAMP. Amphion's business is the formation, financing, management and developmentof life sciences and technology companies, primarily in the US and UK, workingin partnership with corporations, governments, universities and entrepreneursseeking to commercialize their intellectual property. Amphion currently holds astake in seven Partner Companies, and is continually evaluating newopportunities. Amphion is based in New York, NY and London, England. On the web:www.amphionplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMP.L