Result of Open Offer

RNS Number : 3659P

Byotrol PLC

31 August 2017

 

31 August, 2017

Byotrol Plc

("Byotrol" or the "Company") 

Result of Open Offer

On 3 August 2017, Byotrol announced details of a Placing, Subscription and Open Offer to raise gross proceeds of approximately £4.3 million through the issue of 106,787,000 New Ordinary Shares at a price of 4 pence per share, with 103,787,000 shares subject to the Placing and 3,000,000 shares subject to the Subscription. In addition, a further 26,805,156 shares were made available through the Open Offer.

The Open Offer closed for acceptances at 11.00 a.m. on 30 August 2017. Byotrol is pleased to announce that it has received valid applications under the Open Offer, including those received under the Excess Application Facility, in respect of 17,140,787 Open Offer Shares from Qualifying Shareholders. This represents approximately 64 per cent. of the Open Offer Shares. Qualifying Shareholders who have validly applied for Open Offer Shares and Excess Shares will receive their application in full.

The Placing, Subscription and Open Offer remain conditional, inter alia, upon the Resolutions being passed at the General Meeting to be held at 11.00 a.m. on 4 September 2017 and Admission. Byotrol expects to announce the results of the General Meeting as soon as practicable on 4 September 2017 after the meeting concludes. It is expected that Admission will become effective on 5 September 2017.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given to them in the Company's circular dated 3 August 2017.

Enquiries:

Byotrol plc                                                                                                                                    01925 742 000

David Traynor - Chief Executive

finnCap Ltd                                                                                                                                  020 7220 0500

(Nominated Adviser & Broker)

Geoff Nash/Carl Holmes/James Thompson - Corporate Finance

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Notes to Editors:
 

Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer of residual antimicrobial technologies, identifying, developing, formulating and commercialising cutting-edge antimicrobial solutions.

 

Our patented suite of technologies deliver powerful broad-spectrum efficacy with residual performance optimised against commonly occurring and industry-specific pathogens

Founded in 2005, the Company has developed the technology that creates easier, safer and cleaner lives

For more information, please go to www.byotrol.co.uk

 

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