Venn Life Sciences Holdings PLC Result of General Meeting (1806J)
April 01 2015 - 6:14AM
UK Regulatory
TIDMVENN
RNS Number : 1806J
Venn Life Sciences Holdings PLC
01 April 2015
Venn Life Sciences Holdings Plc
("Venn" or the "Company")
01 April 2015
Result of General Meeting
Venn Life Sciences (AIM: VENN), a growing Clinical Research
Organisation (CRO) providing clinical trial management and
resourcing solutions to pharmaceutical, biotechnology and medical
device clients, announces that at the General Meeting held earlier
today, all the resolutions put to shareholders were duly
passed.
As a result, the Placing announced on 13 March 2015 of
10,526,316 new ordinary shares at 19 pence per ordinary share (the
"Placing Shares"), is now conditional only on Admission which is
expected to take place on 2 April 2015.
The Directors intend to use the net proceeds of the Placing to
allow further investment in working capital to aid expansion,
particularly in the key commercial areas of business development,
support systems and the hiring of clinical operations staff. These
investments are becoming increasingly important to the Company as
it tenders for, and wins, larger contracts. The Company also has a
strategy of increasing the scope and scale of Venn's service
offering through acquisitions. The net proceeds of the Placing will
provide additional flexibility when opportunities arise.
In addition, the Company will issue a further 342,095 shares at
a price of 19 pence per share under existing authorities to satisfy
further investor demand (the "Additional Shares"). These shares
will also admit to trading on 2 April 2015.
Following Admission of the Placing shares and the Additional
Shares, the Company's issued share capital will consist of
39,227,632 ordinary shares. There are no ordinary shares held in
treasury. Therefore, in accordance with the FCA's Disclosure and
Transparency Rule 5.6.1, the Company confirms that following
Admission, the total number of voting rights in the Company will be
39,227,632.
Enquiries:
Venn Life Sciences Holdings www.vennlifesciences.com
Plc
Tony Richardson, Chief Executive Tel: +353 154 99 341
Officer
Orla McGuinness Tel: +353 1 30826707
Zeus Capital Limited (Nominated
Adviser and Broker)
Ross Andrews/Andrew Jones Tel: 0161 831 1512
Alex Davies Tel: 020 7533 7727
Walbrook PR Ltd Tel: 020 7933 8787 or
venn@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
About Venn Life Sciences Limited
Venn Life Sciences is a Clinical Research Organisation providing
clinical trial management solutions and resourcing solutions to
pharmaceutical, biotechnology and medical device organisations.
With dedicated operations in France, Germany, the Netherlands, the
UK and Ireland and Europe wide representation - Venn specialises in
rapid deployment and management of multisite projects. Venn has
established an innovation division - Innovenn - focused primarily
on breakthrough development opportunities in Skin Science.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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