GBP1.2m Successful Placing


 

TIDMLPX 
 
RNS Number : 5875J 
Lipoxen PLC 
01 April 2010 
 

+---------------------------------+---------------------------------+ 
| For immediate release           |                    1 April 2010 | 
+---------------------------------+---------------------------------+ 
 
 
 
                                  Lipoxen plc 
                          ('Lipoxen' or 'the Company') 
 
                           GBP1.2m Successful Placing 
Lipoxen plc (AIM: LPX), a bio-pharmaceutical company specialising in the 
development of high-value differentiated biologicals, vaccines and siRNA 
delivery, is pleased to announce a placing of 17,516,546 new ordinary shares of 
.5 pence each (the "New Ordinary Shares") to raise approximately GBP1.2 million 
(before expenses) (the "Placing"). The Placing is being priced at 7 pence per 
New Ordinary Share which is within the bid and offer spread of the closing share 
price on 31 March 2010. 
The New Ordinary Shares have been placed with several institutional investors 
and certain of the directors of the Company and the proceeds of the Placing will 
be used to strengthen the Company's balance sheet. 
Scott Maguire, Chief Executive, said: "We are very pleased with the demand and 
support from existing and new shareholders in this exercise to strengthen our 
balance sheet. As with the fund raising in May last year, management is making 
another significant financial commitment such is our belief in the future of 
Lipoxen." 
Application has been made to AIM, a market of the London Stock Exchange plc, for 
admission to take place on 8 April 2010. The New Ordinary Shares will, when 
issued, rank pari passu in all respects with the existing ordinary shares. 
Following admission of the New Ordinary Shares it is expected that the Company 
will have 171,913,776 ordinary shares in issue. 
For further information, please contact: 
Enquiries 
+------------------------------------------+--------------------+ 
| Lipoxen plc                              |     +44 (0)20 7691 | 
|                                          |               3583 | 
+------------------------------------------+--------------------+ 
| M. Scott Maguire, Chief Executive        |                    | 
| Officer                                  |                    | 
+------------------------------------------+--------------------+ 
|                                          |                    | 
+------------------------------------------+--------------------+ 
| Singer Capital Markets (nominated        |     +44 (0)20 3205 | 
| adviser)                                 |               7500 | 
+------------------------------------------+--------------------+ 
| Jeff Keating / Claes Spång               |                    | 
+------------------------------------------+--------------------+ 
|                                          |                    | 
+------------------------------------------+--------------------+ 
| Buchanan Communications                  |     +44 (0)20 7466 | 
|                                          |               5000 | 
+------------------------------------------+--------------------+ 
| Lisa Baderoon, Catherine Breen           |                    | 
+------------------------------------------+--------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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