Issue of Ordinary Shares

RNS Number : 4030A

ReNeuron Group plc

30 March 2012

 



30 March 2012

AIM: RENE

ReNeuron Group Plc

Issue of Ordinary Shares

Guildford, UK, 30 March 2012: ReNeuron Group plc ("Company") (LSE: RENE.L) today announces that the Company has approved the issue of 187,784 ordinary shares of 1p each in the capital of the Company ("Shares") at a price of 5.025p per Share (being the mid-market closing price as at 28 March 2012) pursuant to an incentive agreement with one of its research consultants. The Shares rank equally with the Company's existing issued ordinary shares.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence, on 4 April 2012.

Following the issue of the New Ordinary Shares, the number of Ordinary Shares in issue, including shares issued under its block-listing facility, will increase to 623,403,084. For the purposes of the Financial Services Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following this allotment consists of 623,403,084 Shares with voting rights attached (one vote per Share). There are no Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, ReNeuron under the Disclosure and Transparency Rules.

Enquiries:

ReNeuron                                                                               [phone]

Michael Hunt, Chief Executive Officer

Pat Huggins, Head of Finance 

Buchanan                                                                              [phone]

Mark Court, Sophie Cowles                                                           

Cenkos Securities                                                                [phone]

Stephen Keys, Adrian Hargrave (NOMAD and Broker)

Andy Roberts (Sales)

About ReNeuron

ReNeuron is a leading, clinical-stage stem cell business.  Its primary objective is the development of novel stem cell 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.  ReNeuron's lead candidate is its ReN001 stem cell therapy for the treatment of patients left disabled by the effects of a stroke. This therapy is currently in clinical development.  The Company is also developing stem cell therapies for other conditions such as peripheral arterial disease, a serious and common side-effect of diabetes, and blindness-causing diseases of the retina.

ReNeuron has also developed a range of stem cell lines for non-therapeutic applications - its ReNcell^® products for use in academic and commercial research.  The Company's ReNcell^®CX and ReNcell^®VM neural cell lines are marketed worldwide under license by USA-based Merck Millipore.

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.

This announcement contains forward-looking statements with respect to the financial condition, results of operations and business achievements/performance of ReNeuron and certain of the plans and objectives of management of ReNeuron with respect thereto. These statements may generally, but not always, be identified by the use of words such as "should", "expects", "estimates", "believes" or similar expressions. This announcement also contains forward-looking statements attributed to certain third parties relating to their estimates regarding the growth of markets and demand for products. By their nature, forward-looking statements involve risk and uncertainty because they reflect ReNeuron's current expectations and assumptions as to future events and circumstances that may not prove accurate.  A number of factors could cause ReNeuron's actual financial condition, results of operations and business achievements/performance to differ materially from the estimates made or implied in such forward-looking statements and, accordingly, reliance should not be placed on such statements.

 

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