Microsaic Systems plc Result of GM, Completion of Fundraising & TVR (2492S)
June 22 2018 - 4:40AM
UK Regulatory
TIDMMSYS
RNS Number : 2492S
Microsaic Systems plc
22 June 2018
22 June 2018
Microsaic Systems plc
("Microsaic", "Microsaic Systems" or the "Company")
Result of General Meeting, Completion of Fundraising and Total
Voting Rights
Microsaic Systems plc (AIM: MSYS), the developer of point of
need mass spectrometry ("MS") instruments, is pleased to announce
that, at its General Meeting held earlier today, the Resolution put
to shareholders to authorise the directors of the Company to allot
the New Ordinary Shares in connection with the fundraising of
GBP5.5 million (gross) announced on 5 June 2018 was duly
passed.
Application has been made for the 275,000,000 New Ordinary
Shares to be admitted to trading on AIM and it is expected that
Admission will become effective and trading will commence in the
New Ordinary Shares at 8.00 a.m. on 25 June 2018.
Following Admission the Company's issued share capital will
comprise 456,365,146 Ordinary Shares. From Admission, the figure of
456,365,146 may be used by shareholders of the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Glenn Tracey, Chief Executive Officer of Microsaic,
commented:
"We are delighted to have completed this fundraise with a good
mix of high calibre institutional and private investors. The new
funds have strengthened the Company's balance sheet and will allow
us to continue to further enhance our miniaturised mass
spectrometer instruments to ensure our continued competitiveness,
as well as put Microsaic in a stronger position to support existing
partnerships and further commercial agreements - we have signed six
new OEM distribution partnerships so far this calendar year."
Defined terms used in this announcement will have the meanings
(unless the context otherwise requires) set out in the Circular
dated 6 June 2018, which is available on the Company's website at
http://www.microsaic.com/investors/documents/.
Enquiries:
Microsaic Systems plc
Glenn Tracey, CEO
Bevan Metcalf, FD +44 (0) 1483 751 577
N+1 Singer (Nominated Adviser &
Broker)
Shaun Dobson
Liz Yong +44 (0)20 7496 3000
IFC Advisory Ltd (Financial PR)
Graham Herring
Heather Armstrong
Florence Chandler +44 (0)20 3934 6630
www.microsaic.com
About Microsaic Systems
Microsaic Systems plc (AIM: MSYS) is a high technology company
developing chip-based, bench-top and point-of-analysis mass
spectrometry ("MS") instruments that are designed to improve the
efficiency of pharmaceutical R&D and manufacturing. The Company
is working with established global life science companies to
co-develop new solutions to improve productivity in the development
of small molecule and novel biologic (peptides, antibodies)
medicines. MS is a powerful method of analysis to enable earlier
decision making relating to product identification, purity and
bioactivity, and is the analytical technique of choice for
biochemists across many industry sectors.
Microsaic's core product, the 4500 MiD(R), is a robust and
compact MS system, retaining the functionality of larger
conventional MS systems, is easier to use by non-specialists,
consumes less energy and has lower running costs. For more
information, please go to www.microsaic.com.
This information is provided by RNS, the news service of the
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END
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