Result of General Meeting

RNS Number : 0297V

Angle PLC

18 July 2018

 

For immediate release

18 July 2018

ANGLE plc ("the Company")

Result of General Meeting and update re: EIS/VCT Advanced Assurance

ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy company, is pleased to announce that, further to the announcement on 25 June 2018, the Resolutions put to Shareholders at the General Meeting earlier today were duly passed.

Completion of the Fundraising is conditional on Admission of the EIS/VCT Placing Shares becoming effective ("EIS/VCT Admission") and Admission of the General Placing Shares and General Subscription Shares becoming effective ("General Admission").

The issue of the EIS/VCT Placing Shares is conditional upon the Company receiving advanced assurance from HMRC that an investment in the Company will qualify for EIS and VCT tax reliefs (the "Advanced Assurance") and on EIS/VCT Admission.

The issue of the General Placing Shares is conditional upon General Admission and the EIS/VCT Admission.

The Company received Advanced Assurance from HMRC for the purposes of EIS tax relief on 3 July 2018. Regarding VCT tax relief, in the same correspondence, HMRC requested information on the VCT investment in respect only of the names of investors, the amounts being invested by these investors and confirmation of the terms of investment. This information was provided to HMRC on 3 July 2018, the same day, and the Company is awaiting a response from HMRC for the purposes of advance assurance for VCT tax relief ("VCT Advanced Assurance").

The qualification requirements for EIS and VCT tax relief are the same and consequently the Company expects to receive VCT Advanced Assurance from HMRC in the near term.

Therefore, EIS/VCT Admission is deferred until such time that the VCT Advanced Assurance is received from HMRC. As the issue of the General Placing Shares is conditional upon EIS/VCT Admission, General Admission will also be deferred pending receipt of VCT Advanced Assurance and is expected to occur the Business Day after EIS/VCT Admission.

Further information regarding revised settlement and admission dates will be announced via RNS in due course.

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released on 25 June 2018 unless the context requires otherwise.

For further information ANGLE:

ANGLE plc	[phone]
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
finnCap Ltd (NOMAD and Joint Broker) Corporate Finance - Adrian Hargrave, Simon Hicks, Max Bullen-Smith Corporate Broking - Alice Lane, Nikita Jain	[phone]
WG Partners (Joint Broker) Nigel Barnes, Nigel Birks, Andrew Craig, Chris Lee	[phone]
FTI Consulting Simon Conway, Mo Noonan, Stephanie Cuthbert Evan Smith, Anne Troy (US)	[phone] [phone]

For Frequently Used Terms, please see the Company's website on http://www.angleplc.com/the-parsortix-system/glossary/

Notes for editors

About ANGLE plc     www.angleplc.com 

ANGLE is a world leading liquid biopsy company with sample to answer solutions. ANGLE's proven patent protected platforms include an epitope-independent circulating tumor cell (CTC) harvesting technology and a downstream analysis system for cost effective, highly multiplexed analysis of nucleic acids and proteins.

ANGLE's cell separation technology is called the Parsortix^TM system and it enables a liquid biopsy (simple blood test) to be used to provide the cells of interest. Parsortix is the subject of granted patents in Europe, the United States, Canada, India, China, Japan and Australia and three extensive families of patents are being progressed worldwide. The system is based on a microfluidic device that captures live cells based on a combination of their size and compressibility. The Parsortix system has a CE Mark for Europe and FDA clearance is in process for the United States. 

ANGLE's analysis technology for proteins and nucleic acids of all types is called Ziplex^® and is based on a patented flow through array technology.  It provides for highly multiplexed, rapid and sensitive capture of targets from a wide variety of sample types.  A proprietary chemistry allows for the capture and amplification of over 100 biomarkers simultaneously in a single reaction.  These technologies can be combined to provide fully automated, sample to answer results in both centralised laboratory and point of use cartridge formats.  It is ideal for measuring gene expression and other markers directly from Parsortix harvests.

ANGLE has established formal collaborations with world-class cancer centres.  These Key Opinion Leaders are working to identify applications with medical utility (clear benefit to patients), and to secure clinical data that demonstrates that utility in patient studies.  Details are available here http://www.angleplc.com/the-company/collaborators/

 

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