Result of General Meeting

RNS Number : 7779W

ReNeuron Group plc

21 August 2015

 

21 August 2015                                                                                                                   AIM: RENE

ReNeuron Group plc

("ReNeuron" or the "Company")

Result of General Meeting

Guildford, UK, 21 August 2015: ReNeuron Group plc, a leading UK-based stem cell therapy company, announced on 10 July 2015 the details of a Placing in which it had conditionally raised proceeds of £68.4 million before expenses.  The Board is pleased to announce that at today's General Meeting of the Company, shareholders approved all the resolutions by the relevant majorities. 

As a consequence of the passing of the Resolutions which included the Rule 9 Waiver, Woodford Investment Management will hold a total of 1,119,883,005 Ordinary Shares, representing 35.5 per cent. of the issued share capital of the Company following Admission.

It is expected that Admission will become effective and dealings will commence at 8.00 a.m. on Tuesday, 25 August 2015. Following Admission, the Company will have 3,156,239,639 Ordinary Shares in issue, all with voting rights. The Company holds no Ordinary Shares in treasury.  The figure of 3,156,239,639 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Capitalised terms in this announcement have the same meaning as in the announcement of 10 July 2015 and the circular posted to shareholders on 29 July 2015 except where otherwise indicated.

Olav Hellebø, ReNeuron's CEO, commented:

"We are delighted to have received strong support in this Placing from Woodford Investment Management, Aviva and the Welsh Life Sciences Fund along with other new and existing institutional investors. The funds raised will enable us to drive forward the development of our therapeutic platforms, thereby creating multiple opportunities to generate value for shareholders."

Enquiries:

ReNeuron                                                                                                           [phone]

Olav Hellebø, Chief Executive Officer

Michael Hunt, Chief Financial Officer

Cenkos Securities                                                                                            [phone]

Stephen Keys, Dr Christopher Golden (NOMAD and Broker)

Russell Kerr (Sales)

Buchanan                                                                                                            [phone]

Mark Court, Sophie Cowles, Stephanie Watson

About ReNeuron

ReNeuron is a leading, clinical-stage cell therapy development business.  Based in the UK, its primary objective is the development of novel cell-based therapies targeting areas of significant unmet or poorly met medical need.  

ReNeuron has used its unique stem cell technologies to develop cell-based therapies for significant disease conditions where the cells can be readily administered "off-the-shelf" to any eligible patient without the need for additional immunosuppressive drug treatments.  The Company's therapeutic candidates for stroke disability and critical limb ischaemia are in clinical development and its cell-based treatment for the blindness-causing disease, retinitis pigmentosa, is about to enter the clinic in the US.    

ReNeuron is also advancing a proprietary platform technology to exploit nanoparticles (exosomes) secreted by stem cells as potential new drug candidates targeting a range of cancers.

ReNeuron's shares are traded on the London AIM market under the symbol RENE.L.  Further information on ReNeuron and its products can be found at www.reneuron.com.

 

END

 

 

ROMSEFFEFFISELA