Results of General Meeting

RNS Number : 5411F

Microsaic Systems plc

24 May 2013

 



24 May 2013

Microsaic Systems plc

("Microsaic" or the "Company")

Results of General Meeting and Completion of Placing

Microsaic Systems plc (AIM: MSYS), the developer of chip-based scientific instruments, announces that a general meeting of the Company was held at 11.00 a.m. (UK time) this morning, further to previous announcements made on 3 and 7 May 2013.

The Company is pleased to announce that all resolutions proposed at the general meeting were passed and that the conditional placing of 9,951,443 new ordinary shares of 0.25p each has completed subject to admission of those shares (expected on 29 May 2013) becoming effective in accordance with the AIM Rules for Companies. 

The net proceeds of the placing will provide the Company with additional capital to execute its organic revenue growth plans, as well as to invest in the development and production of its instruments and technologies.

Enquiries:

Microsaic Systems plc	via Citigate Dewe Rogerson
Colin Jump, CEO
Eric Yeatman, Chairman
Numis Securities Limited	[phone]
Stuart Skinner (Nominated Adviser)
James Serjeant (Broker)
Citigate Dewe Rogerson (Financial PR)	[phone]
Chris Gardner, Mark Swallow, Malcolm Robertson

About Microsaic Systems plc

Microsaic Systems develops chip-based scientific instruments for the identification of substances in solids, liquids and gases. The Company's products are based on the 'gold-standard' scientific technique of mass spectrometry (MS).

Microsaic Systems has developed a miniaturised mass spectrometer product, based on its patented, chip-based technologies (ionchip®, spraychip® and vac-chip™), that is smaller, lighter, quieter, more energy efficient and cheaper to run than conventional MS systems.

Mass spectrometry (MS) is used across multiple sectors, including government, energy, utilities, pharmaceutical, diagnostics and healthcare, environmental, food and drink, security and defence, and industrial chemicals - a combined market of $3 billion in 2012.

Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.

www.microsaic.com

 

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