Approval of Share Capital Reorganisation

RNS Number : 6674C

ReNeuron Group plc

23 January 2018

 

 

23 January 2018

AIM: RENE

ReNeuron Group plc

("ReNeuron" or the "Company")

Share Capital Reorganisation - Result of General Meeting and Admission of New Consolidated Ordinary Shares to AIM

Capitalised terms not otherwise defined herein shall have the same meaning given to such terms in the circular issued by the Company on 5 January 2018 (the "Circular").

ReNeuron Group plc (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, announced on 5 January 2018 details of a proposed Share Capital Reorganisation of the existing ordinary share capital of the Company. 

The Board is pleased to announce that at today's General Meeting of the Company, Shareholders approved all of the Resolutions set out in the Circular, as necessary to give effect to the Share Capital Reorganisation by the relevant majorities.  Consequently the proposed Sub-Division, Consolidation, Buy-Back and Cancellation, together with the sale of all Fractional Entitlements arising in connection with the Share Capital Reorganisation, each as further described in the Circular, will be implemented after today's market close. 

All Shareholders on the register as at 6.00 p.m. on 23 January 2017 (the "Record Date") will receive one New Consolidated Ordinary Share of 1 pence each for every 100 Existing Ordinary Shares of 1 pence each.  Save for any adjustment for Fractional Entitlements, Shareholders will retain the same percentage interest in the Company post consolidation as previously held. The New Ordinary Shares arising on implementation of the Capital Reorganisation will have the same rights as the Existing Ordinary Shares, including voting and other rights.

It is expected that Admission of the 31,646,186 New Consolidated Ordinary Shares, representing the entire issued share capital of the Company, will become effective and dealings will commence in such shares at 8.00 a.m. on Wednesday, 24 January 2018.  Following Admission, the Company will have 31,646,186 Ordinary Shares in issue, all with voting rights. The Company holds no Ordinary Shares in treasury.  The Company's ISIN will change to GB00BF5G6K95 and its new SEDOL will be BF5G6K9. The Company's ticker symbol, RENE, will remain unchanged.

The figure of 31,646,186 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. 

Following the Share Capital Reorganisation, replacement share certificates will be dispatched in respect of the New Consolidated Ordinary Shares which are to be held in certificated form.  These new share certificates are expected to be dispatched by 7 February 2018.  Share certificates dated on or before the Record Date should be destroyed as they will cease to be valid.

In relation to Existing Ordinary Shares which are held in uncertificated form, CREST accounts will be credited with the New Consolidated Ordinary Shares on 24 January 2018.

ENQUIRIES: ReNeuron [phone] Olav Hellebø , Chief Executive Officer Michael Hunt, Chief Financial Officer Buchanan [phone] Mark Court, Sophie Wills, Stephanie Watson Stifel Nicolaus Europe Limited [phone] Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Joint Broker) Nplus1 Singer Advisory LLP [phone] Mark Taylor (Joint Broker)

About ReNeuron

ReNeuron is a leading, clinical-stage cell therapy development company.  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 has therapeutic candidates in clinical development for disability as a result of stroke, for critical limb ischaemia and for the blindness-causing disease, retinitis pigmentosa.   

ReNeuron is also advancing its proprietary exosome technology platform as a potential new nanomedicine targeting cancer and as a potential delivery system for drugs that would otherwise be unable to reach their site of action.

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.

 

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