Result of Placing

Ardana PLC
12 October 2006

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                                   Ardana plc

                        Result of Placing and Open Offer


Edinburgh, UK, 12 October 2006 - Ardana plc (LSE: ARA) ('Ardana' or the 
'Company') has announced that by 11.00 a.m. on 11 October 2006, being the latest
time for receipt of application forms and payment in full under the Open Offer
announced on 20 September 2006, valid applications had been received from
Qualifying Shareholders in respect of 1,595,931 New Ordinary Shares,
representing 16.65 per cent. of the 9,585,380 New Ordinary Shares available
under the Open Offer.  This amount includes 44,573 New Ordinary Shares the
subject of irrevocable commitments to accept the Open Offer entered into by Dr
Maureen Lindsay, Graham Lee, Dr John Brown and Carol Ferguson, all Directors of
the Company.


A further 5,493,362 New Ordinary Shares which certain Qualifying Shareholders
had irrevocably undertaken not to take up under the terms of the Open Offer were
conditionally placed firm by Piper Jaffray.  Accordingly, a total of 7,089,293
New Ordinary Shares (being 73.96 per cent. of the New Ordinary Shares available
under the Placing and Open Offer) were either placed firm by Piper Jaffray or
were the subject of valid applications from Qualifying Shareholders.


Therefore the balance of 2,496,087 New Ordinary Shares not applied for by
Qualifying Shareholders under the Open Offer or placed firm by Piper Jaffray
will be taken up by institutional investors under the Placing pursuant to the
Placing Agreement.


The New Ordinary Shares to be issued pursuant to the Placing and Open Offer will
rank pari passu with the existing Ordinary Shares in all respects.


The Placing and Open Offer remains conditional upon, inter alia, the passing of
the resolutions at the EGM today at noon and admission of the New Ordinary
Shares to the Official List and to trading on the London Stock Exchange's market
for listed securities.  Application has been made to the FSA for the New
Ordinary Shares to be admitted to the Official List and to be admitted to
trading on the London Stock Exchange's markets for listed securities.  It is
expected that Admission will become effective and dealings in the New Ordinary
Shares will commence at 8.00 a.m. on 13 October 2006.


Terms defined in the Prospectus dated 20 September 2006 have the same meaning in
this announcement.  A copy of the Prospectus has been submitted to the FSA , and
is available for inspection at the FSA's Document Viewing Facility, which is
situated at: Financial Service Authority, 25 The North Colonnade, Canary Wharf,
London E14 5HS.


For further information, please contact:


Ardana plc
Tel: [phone]
Dr. Maureen Lindsay, Chief Executive Officer
Graham Lee, Chief Financial Officer


Piper Jaffray Ltd.
Tel: [phone]
Jamie Adams
James Steel


Financial Dynamics
Tel: [phone]
Julia Phillips
John Gilbert





Piper Jaffray Ltd., which is authorised and regulated in the United Kingdom by
the Financial Services Authority and is a member of the London Stock Exchange,
is acting for the Company and no-one else in connection with the Placing and
Open Offer and will not be responsible to anyone other than the Company for
providing the protections afforded to its customers or for providing advice in
relation to the Placing and Open Offer or any other matter referred to herein.



This press announcement has been issued by Ardana plc and is the sole
responsibility of Ardana plc.


                      This information is provided by RNS
            The company news service from the London Stock Exchange