Result of GM, Completion of Fundraising & TVR

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 £5.5 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	[phone]
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson Liz Yong	[phone]
IFC Advisory Ltd (Financial PR) Graham Herring Heather Armstrong Florence Chandler	[phone]

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®, 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.  

 

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