Results of Placing and Subscription

RNS Number : 8858D

Plant Health Care PLC

24 February 2020

 

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

24 February 2020

Plant Health Care

( " Plant Health Care ", " PHC" or the " Company")

Results of Placing and Subscription

Plant Health Care, a leading provider of novel patent-protected biological products to global agricultural markets, announces that, further to its announcement at 7.00 a.m. today, it has successfully completed the Fundraising which is now closed.

The conditional Placing and Subscription has raised approximately $4.6 million (before expenses) through the placing of new Ordinary Shares of £0.01 each ( " Ordinary Shares ") with investors at an Issue Price of 8 pence per share.  The Fundraising was substantially over-subscribed.

Director participation

The following Directors of the Company participated in the Fundraising:

Name of Director	Number of Fundraising Shares subscribed for	Total Ordinary Shares following the Fundraising	Total interest in the enlarged issued share capital
Chris Richards	500,000	2,733,015	1.1%
Richard Webb	250,000	1,265,264	0.5%
Jeffrey Tweedy	48,460	66,364	<0.0%
Jeffrey Hovey	29,076	29,076	<0.0%
William Lewis	193,843	630,463	0.3%

General Meeting

A Circular explaining the background to and reasons for the Placing and Subscription, and containing the Notice of General Meeting which will take place at 11.00 a.m. on 16 March 2020 at the offices of DWF Law LLP at 20 Fenchurch Street, London, EC3M 3AG, will be posted on 25 February 2020. A copy of the Circular and Notice of General Meeting will be made available on the Company ' s website.

Admission

Completion of the Placing and Subscription remains subject, inter alia, to the passing of the Fundraising Resolutions at the General Meeting and to Admission of the Fundraising Shares. It is expected that dealings in the Fundraising Shares will commence at 8.00 a.m. on 18 March 2020 (or such time and/or date as the Company and Arden may agree, being not later than 31 March 2020).

Chris Richards, CEO of PHC, said:

" The Board of Plant Health Care is delighted to have the support of shareholders in this fund-raise.  The Company is committed to delivering profitable revenue growth in line with market expectations and to driving the successful launch of the first products from the PREtec platform.  These additional funds will ensure that the Company is well resourced to deliver on this plan."

Capitalised terms in this Announcement shall have the same meanings given to such terms in the Company ' s announcement at 7.00 a.m. today.

For further information, please contact:

Plant Health Care plc

Chris Richards, CEO    Tel: [phone]

Arden Partners plc - Nomad & Broker

John Llewellyn-Lloyd / Dan Gee-Summons                                Tel: [phone]

 

END

 

 

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