Issue of Equity
22 2월 2008 - 12:06AM
UK Regulatory
DERMASALVE SCIENCES PLC
ISSUE OF EQUITY
The Directors of DermaSalve Sciences plc (the "Company") are pleased to
announce that the Company has raised �260,000 through the placing of 6,933,333
new ordinary shares of 1p each (the "Placing Shares") at a price of 3.75p per
share (the "Placing").
Certain of the Directors have subscribed for Placing Shares as detailed below:
Director Placing Shares No. of shares held % of shares held
being subscribed immediately immediately
for following the following the
Placing Placing
Dr. Mark Randle 2,000,000 11,365,249 10.33%
Phil Pattison 400,000 651,980 0.59%
Dr. Clive Morton 133,333 142,423 0.13%
Graham Ashley 533,333 2,033,333 1.85%
Dr. David Stone 400,000 400,000 0.36%
Dr. Erling Refsum 133,333 133,333 0.12%
The participation of the Directors in the Placing constitutes a related party
transaction under the AIM Rules for Companies. Karl Watkin and Neil Wilson, the
Directors who are not participating in the Placing, consider, having consulted
with Hanson Westhouse Limited, the Company's nominated adviser, that the terms
of the placing of shares with Directors are fair and reasonable insofar as
shareholders are concerned.
Application is being made for the Placing Shares to be admitted to trading on
AIM, which is expected to take place on 27 February 2008. Following the
Placing, the enlarged share capital of the Company will be 110,017,891 ordinary
shares of 1p each. The Placing Shares will represent 6.3 per cent of the issued
share capital of the Company as enlarged by the Placing.
The Placing Shares rank pari passu in all respects with the existing issued
ordinary shares of 1p each, with each share carrying the right to one vote.
Dr. Mark Randle, Chief Executive Officer, said: "The proceeds of the Placing
will be used to fund the initial supply of stock to deliver against firm
contracts which we expect will result in the positive cash flow that we have
all been working towards. I am pleased to see such widespread support for this
share issue from my fellow board members."
Enquiries
Dermasalve Sciences plc Dr. Mark 0191 260 5070
Randle
Hanson Westhouse Limited Tim Feather / 0113 246 2610
Matthew Johnson
St Helens Capital 020 7628 5582
Andy McLintock
Hansard Group Brendan Adams 020 7245 1100
END
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